Joshua Ketter

Walmart Chief eCommerce Officer is now CEO of the entire U.S. business💡 David Guggina will take over Walmart US from February 1, 2026 — a role that traditionally goes to leaders with decades of store-operations experience. Let’s read between the lines: - Walmart is saying e-commerce is no longer a channel - Digital is now the operating system of retail - Stores, platforms, data, ads, AI and logistics must run as one If the world’s largest retailer puts its e-commerce chief in charge of 4,700 U.S. stores, that tells you exactly where retail power has shifted.

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You may find it odd that a CFO is sharing this piece, but I think this is a great article from Chip Wilson, distributed in the Wall Street Journal this week on how Lululemon lost its soul. The issue with Lululemon is not that they had (or didn't have) smart financial people. This is a crucial part of any successful business. The classic error occurred when the main conversation was on how to maximize profit(s) in the short term, rather than how to create amazing products for amazing guests with amazing people first and then financial management being used to support this dream first mentality. When you lose sight of the north star of amazing products, with amazing people, for amazing guests, you begin to take short cuts that lead to long term decline. This does not mean unfettered growth with no financial metrics in place, but a relentless focus on the important things first in conversations (innovation, culture, product and customer experience) followed then by conversations on how to make this profitable and sustainable over time (not necessarily in one or two quarters). These two functions can work beautifully together but finance must be second and support the creation of true business value, not just short term, unsustainable profit(s). I have found that the companies that succeed over many years and decades are ones that adopt a founder led/visionary mentality first, innovate constantly and then are supported by absolute excellence in business operations and finance. The reverse can work for a time and is celebrated by Wall Street in the short term but it does not create long term business value. When I think about the CFO I strive to be, it’s not just about bringing absolute excellence in financial and operational management.  It’s about aiding the dreams of visionaries and founders to create amazing products and services for amazing guests and to develop/support amazing team members. It will be interesting to see how Lululemon reacts to this article.

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US Dept of E-Commerce Quarterly E-Commerce data for Q2 2025 is out. Q2 2025 US e-commerce were up 5.33% over Q2 2024. Significantly slower than the ten year average of 15%, but a bit faster than brick and mortar which grew 3.58% in the same period. E-Commerce is now 22.79% of core retail (retail less resturants, automotive dealers, and gas stations), which is slightly ahead of the Covid peak which was 22.1%.

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Same-day grocery is easy to promise and very hard to do profitably. Most retailers start with the P&L. They ask: how do we make same-day work without destroying margins? They add fees, cut assortment, outsource the experience. On paper it looks fine. In reality, NPS drops, repeat rates fall and the unit economics never really improve. At Rohlik Group we took the opposite path. We started from customer obsession: would I be proud to offer this to my own family? That meant same-day delivery as a standard, 15-min time windows, ultra-fresh product and almost perfect availability. NPS became our daily report card. I still read NPS comments every morning. Every late van, every bad substitution, shows up immediately as a lower NPS, and we treat it as a defect in the system, not a problem with the customer. To deliver same-day at scale while keeping a very high NPS (80+ in all markets), you cannot rely on spreadsheets and point solutions. You need an AI-native operating system that: • Sees the whole journey end-to-end – from demand to fulfilment to last mile. • Orchestrates people, robots and vans in real time to keep every promise. • Optimises every decision for both customer happiness (NPS) and contribution margin. When you do this, customer obsession and economics stop fighting each other. You can be faster, more reliable and more personal than the local store, and still be profitable order by order. That is exactly the system we built inside Rohlik. And we are opening it up as Veloq – an AI-driven operating platform that helps grocers deliver same-day service with top-tier NPS and strong unit economics. Let me know if you are interested in learning more!

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Though I advocate tech to be enabler for effective Supply Chain my belief remains in the people who make it work. In any of the operating models of warehouses, eCom fulfillment, and last mile, I’ve watched one pattern unfold seamlessly: Systems scale only when teams scale first. You can buy a WMS, install RF guns, automate a sorter, even launch a dark store in record time but if your supervisors aren’t confident, your planners don’t trust the numbers, and your frontline feels unheard, the performance will always leak. Whether I’m setting up a new fulfillment operation, optimizing routes, or stabilizing a go-live, I focus on the same basics 1. Recruit for attitude, train for skill 2. Make leaders on the floor, not only in meetings 3. Coach daily, not yearly 4. Fix the process, but protect the people My simplest advice to youngsters I come across learn fast, listen deeply, lead by example. Relationships beat rigid SOPs every time.

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The courage to say 'This isn't working' - Kroger's Bold Move "We're not profitable at this point." Kroger's interim CEO just said what most retail leaders won't admit about their e-commerce operations. After investing heavily in 20 automated fulfillment centers with Ocado (only 8 operational), growing e-commerce 15% in Q1, and creating a dedicated digital unit under their CDO... They're still bleeding money online. Here's what happened: 1. Put all e-commerce eggs in one (expensive) basket 2. Scaled infrastructure before proving unit economics 3. Ocado just clawed back $152M under contract terms 4. Now conducting a complete strategy review The uncomfortable truth? Most "digital transformation success stories" are revenue growth stories, not profit stories. Kroger's transparency is refreshing. While competitors tout e-commerce growth metrics, Kroger is asking the harder question: "How do we make this sustainable?" Three lessons I take away from this: 1. Growth ≠ Success - Revenue metrics without profit margins are vanity metrics 2. Balance speed with economics - Scaling before proving unit economics is expensive learning 3. Audit honestly - Sometimes the best strategy is admitting your current one isn't working Kroger isn't retreating from digital. They're getting real about making it work. In a world of growth-at-all-costs thinking, sometimes the most innovative move is hitting pause to build something sustainable. What's your take? Have you seen similar "profitable growth" challenges in your industry? #DigitalTransformation #EcommerceStrategy #RetailTech #ProfitableGrowth #Leadership #TechStrategy #BusinessStrategy #CEO #RetailInnovation #StrategicThinking

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Everyone loves a clean dashboard, but sometimes the most telling system metric doesn’t show up in a chart. One underrated signal I always pay attention to? Timing. Specifically, what’s running when, and what else is trying to run at the same time. In a global ERP environment, it’s rarely just one thing. Finance, payroll, people systems; they’re all sharing space. And if you're not paying attention to scheduling, threading, and global time zones, it's easy to overload the system. I used to joke that it's like dumping food in a bowl and watching 10 puppies charge in; there's always one that gets left behind. And that happens in our systems, too, when everything runs at once or when we assume “off hours” exist (spoiler: they don’t in a global business). System performance isn’t just about speed or uptime; it’s about orchestration. And getting that right makes everything else run smoother. #ERP #SystemPerformance #TechOps

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The End of an Odd Alliance: What Kohl's Decision to Drop Amazon Returns Tells Us About Retail Partnerships After years of accepting Amazon returns at its stores, Kohl's is quietly pulling back from this arrangement in select locations across Massachusetts, Missouri, and Wisconsin. As someone who's spent decades analyzing retail strategy, this doesn't surprise me one bit. The partnership was pitched as a win-win: Kohl's would gain foot traffic from Amazon customers, while Amazon would offload its return logistics. But the reality? Kohl's has suffered through 12 consecutive quarters of declining same-store sales despite handling millions of Amazon returns. This arrangement always raised eyebrows in the industry. Why would a traditional retailer willingly become a service center for its biggest disruptor? Kohl's employees were tasked with processing returns that created operational burdens with minimal conversion to actual Kohl's purchases. What's particularly telling is Kohl's shifting focus toward partnerships with brands like Sephora and Babies R Us - companies that complement rather than compete with their core business. Meanwhile, Amazon customers are being redirected to UPS stores - interesting timing given UPS's own decision to reduce Amazon volume by 50%. The lesson here is clear: retail partnerships must be genuinely symbiotic. Foot traffic alone isn't enough if those customers have no intention of shopping with you. What retail partnerships have you seen that truly deliver mutual value? And would you have advised Kohl's differently back in 2019? #RetailStrategy #EcommercePartnership #RetailInnovation #AmazonEffect

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If you treat data as decoration, you’ll get outmaneuvered. Companies using real-time metrics outperform peers by 33%. Imagine a retailer during peak season suddenly facing a logistics hiccup. Without live shipment updates leadership scrambles to reallocate inventory, leaving shelves bare and customers frustrated. Now envision a company where dashboards alert executives the moment a delivery delays. Teams reroute resources, adjust staffing, and notify key accounts in real time. Customer satisfaction stays high, sales targets are met, and profit margins widen. Or picture a field hospital during a hypothetical crisis. Bed occupancy rates, supply levels, and staffing status feed into a central system visible to administrators and medics alike. When supplies dip below critical thresholds alerts trigger restock orders before shortages occur. Treatment delays vanish and outcomes improve. These scenarios aren’t science fiction, they’re the payoff for embedding real-time metrics into every decision. When facts flow without friction you turn reactive firefighting into proactive strategy. That advantage compounds across projects, markets, and entire industries. #RealTimeData #BusinessResults #Performance #Analytics #OperationalExcellence

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🔍 Target’s Grocery Play: Can It Compete with Walmart, Amazon, and Kroger? The grocery sector is a $1.5 trillion battleground, and Target is making moves to strengthen its position. With new supply chain investments, digital growth, and a focus on omnichannel fulfillment, Target is positioning itself as a contender. But can it truly compete with Walmart, Amazon, and Kroger—the giants that dominate U.S. grocery? Here’s a deep dive into how Target stacks up against its rivals and what the future holds. 📦 Supply Chain: The Backbone of Grocery Success To stay competitive, Target has: ✅ Opened 3 new food-distribution centers (and another coming in Colorado) ✅ Invested in AI and automation to improve inventory flow ✅ Grown same-day services by 14% and digital grocery sales by 8.7% But how does this compare? 🔹 Walmart has converted its vast store network into fulfillment hubs, allowing 5 billion same-day deliveries last year—far surpassing Target. 🔹 Amazon continues to innovate with autonomous checkout and cashier-less stores, setting new standards for speed and convenience. 🔹 Kroger has doubled down on automated fulfillment centers and AI-driven logistics, helping drive 11% growth in digital grocery sales. 📊 Key Takeaway: Target is improving its supply chain, but competitors are operating on a larger scale with more advanced infrastructure. 📈 Market Share & Revenue Trends When it comes to market dominance, here’s how the past 24 months have played out: 🛒 Walmart: Grocery accounts for ~60% of its revenue, with total sales reaching $681B annually. Its market share jumped from 21.9% (2021) to 23.6% (2023). 🛒 Kroger: The #2 U.S. grocer, but losing share—down from 11.2% (2021) to 10.1% (2023). 🛒 Amazon: Online grocery sales hit $49.3B in 2023, growing 5.3% year-over-year. 🛒 Target: Food & beverage sales contribute about $6.5B per quarter, but it holds just 3-5% market share—well behind competitors. 📊 Key Takeaway: While Target’s grocery segment is growing, it remains a secondary business, whereas Walmart, Kroger, and Amazon see grocery as a core revenue driver. 💰 Profitability & Margins Grocery is a low-margin business, so efficiency is key. Here’s how operating profit margins stack up: 💵 Amazon: 8% (boosted by AWS & advertising) 💵 Target: 4.7% (down from 5.8%) 💵 Walmart: 3% (but growing due to operational efficiencies) 💵 Kroger: ~2% (high volume, low-margin model) 📊 Key Takeaway: Walmart and Kroger win on scale and cost-efficiency, while Amazon’s diversified business allows it to invest aggressively. Target’s margins have declined, making its grocery growth more challenging. 🏆 The Competitive Outlook: What’s Next for Target? 🚀 Strengths: ✔️ Well-established omnichannel strategy integrating digital & in-store ✔️ High customer brand loyalty in general merchandise ✔️ Continued expansion in fulfillment capabilities See additional commentary in replies below. Brittain Ladd - would love to hear your take

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Simplify your logistics when launching And not just logistics but every aspect of a CPG biz in Year 1. Trying to gain extra margin points on a brand or worrying about spending a little extra on shipping isn’t going to break the bank when you are starting at $0 in revenue. 5 margin points on $100k of sales is $5k. Once you starting scaling and have gone through the learning phases of building a brand, then start to really take action on dialing in. Don’t wait and put it off until later but also dont let a couple grand here or there bog you down from moving the ship. Thoughts?

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AI is more than just a headline. Lineage believes they will generate $110 million in additional EBITDA over the next 5 years as they deploy their new warehouse software platform, LinOS. It wasn't cheap. Lineage has invested or committed $450 million to create this system, along with adoption of other valuable AI and related technologies. But the payoff is clear and significant. This is great news for Pallet, AutoScheduler.AI, ReverseLogix, Parcel Perform and other AI-powered supply chain software companies that are demonstrating the value of their technology to drive productivity gains. https://lnkd.in/eDSFx8JZ

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Kroger has become very good at explaining itself. It is less clear why customers should choose it. For many shoppers today, Kroger exists as “the grocery store near me.” That is not a scale problem. It is an identity problem. In brick-and-mortar retail right now, convenience is not differentiation. Price alone is not either. The retailers pulling ahead are the ones that meet a core customer desire and then organize the business to deliver that experience consistently in stores, through people, and over time. Kroger’s recent history shows what happens when that coherence weakens. The company invested heavily in supply chain automation intended to modernize fulfillment, only to take a multi-billion-dollar impairment when those systems failed to meet operational and financial expectations. At the same time, the default response to pressure has been store closures, administrative reductions, and headcount cuts. Decisions customers and associates feel immediately. Technology was expected to absorb complexity. Instead, it exposed it. This is the context Greg Foran steps into as CEO. Foran is a serious operator. At Walmart U.S., he led at massive scale where grocery was central and razor-thin food margins were balanced by a broader assortment of higher-margin categories. That reality forced discipline. Stores had to work. Execution failures showed up immediately. That experience matters for Kroger right now. The company does not need more initiatives. It needs tighter fundamentals, clearer priorities, and leadership that understands how quickly trust erodes when execution slips. Foran has led in environments where complexity could not be wished away and performance depended on making fewer, better decisions. But this role will also require him to lean into challenges specific to Kroger’s moment. Grocery labor dynamics are not a background variable. Union relationships, staffing levels, and associate engagement shape the customer experience every day. Kroger’s recent leadership disruption and labor tension make that unavoidable. The dominant narrative right now is that people are the problem and technology is the solution. Kroger’s own experience suggests the opposite. The business invested heavily in automation, reduced human capacity, and ended up more fragile, not stronger. The real work ahead is rebuilding coherence. Between strategy and stores. Between leadership decisions and associate reality. Between what Kroger claims to stand for and what customers actually experience. Kroger does not need reinvention. It needs leadership judgment under constraint. That means recognizing that people are not the drag on performance. They are the capability that determines whether a strategy actually shows up in the real world.

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