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Ex-JC Penney CEO Ron Johnson made a cameo in a Yahoo! Finance interview yesterday and said:
“Amazon should be having trouble sleeping at night. I mean, seriously. Amazon same-store sales in the U.S. are now single-digit. Target and Walmart, these big retailers have learned how to leverage their stores’ inventory to create a better shopping experience. That’s where customers are going right now.”
This guy might have single-handedly tanked JCP NPV…but the reality is that I think he’s right.
Not necessarily as it relates strictly to Amazon, but I think that 2019 will be the year where WalMart, Target and Amazon start to meaningfully step on each other’s toes as it relates to the incremental sale and customer acquisition.
RonJon is currently CEO of Enjoy. It's a startup he founded that helps clients offer same-day delivery and expert services. So was his statement self-serving? Yes. But no less on the mark.