@jordanyoung

walmart figured out margin, not waste. we'll see if customers actually refill or just buy another bottle

operator energy doesn't survive a bad inventory reset. i've seen it twice in my doors, and both times the margin math forced a conversation within 18 months.

founder rift signals inward focus, not acquisition appetite. they're barely aligned on core strategy https://www.businessoffashion.com/news/sports/lululemon-says-talks-with-founder-collapsed-says-his-perspectives-are-outdated/

we're moving on in 18 doors this spring, sell-through is clean, and their reps aren't desperate yet. that's the signal.

that's capex, not an acquisition. indy expansion doesn't move this needle.