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“The problem with a convenience store (a small store with a small inventory and few fixtures) is that it is hard to invest enough money to let the people be productive enough to justify high wages and benefits. I had put the cart—the high wages—before the horse—the convenience market. Perhaps, as the young lady from Stanford commented in 1986, I had done the right thing for the wrong reason. Much of my career was spent trying to find ways to pay the high wages to which I was totally committed. First we upped the investment ante by taking only prime locations, which could generate the most sales, even though the rents were higher.”

Joe Coulombe, Becoming Trader Joe: How I Did Business My Way and Still Beat the Big Guys
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Becoming Trader Joe: How I Did Business My Way and Still Beat the Big Guys Becoming Trader Joe: How I Did Business My Way and Still Beat the Big Guys by Patty Civalleri
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