The death knell for any enterprise is to glorify the past -- no matter how good it was.

Percentage margins are not one of the things we are seeking to optimize. It’s the absolute dollar free cash flow per share that you want to maximize, and if you can do that by lowering margins, we would do that. So if you could take the free cash flow, that’s something that investors can spend. Investors can’t spend percentage margins.

My own view is that every company requires a long-term view.

Real estate is the key cost of physical retailers. That's why there's the old saw: location, location, location.

In the end, we are our choices.

Invention requires a long-term willingness to be misunderstood.

I'm not prepared to make any multi-decade commitments.