Toys R Us built a kingdom and the world’s biggest toy store. Then, they lost it.

Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. In its heyday in th


Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. In its heyday in th
Toys R Us built a kingdom and the world’s biggest toy store. Then, they lost it. Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-26  Authors: lauren hirsch, eduardo munoz, jacques m chenet, corbis, getty images, scott mlyn, peter foley, bloomberg, jason alden
Keywords: news, cnbc, companies, written, toy, biggest, toys, worlds, built, went, store, lost, stores, lazarus, world, week, kingdom, important


Toys R Us built a kingdom and the world's biggest toy store. Then, they lost it.

The toy emporium that Charles P. Lazarus envisioned has been reduced to dusty floors and empty shelves.

Much has been said about the demise of the toy empire, which this week announced its plan to liquidate. There have been fingers pointed at corporate raiders, Amazon and big-box stores. All contributed to its undoing.

Ultimately, though, Toys R Us’ collapse is a story of loyalty run dry. The store in its early days fostered devotion from customers and toymakers. In the end, it lost hold on both.

Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. It didn’t invest in its stores, even as it was adding to the fleet, leaving it vulnerable when new competition moved in.

The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. By 1978, he had created a toy superstore large enough to become a public company.

In its heyday in the 1980s and 1990s, it was the most important toy store in the country, if not the world. Its strength grew as competitors Kiddie City and Child World went out of business.


Company: cnbc, Activity: cnbc, Date: 2019-01-26  Authors: lauren hirsch, eduardo munoz, jacques m chenet, corbis, getty images, scott mlyn, peter foley, bloomberg, jason alden
Keywords: news, cnbc, companies, written, toy, biggest, toys, worlds, built, went, store, lost, stores, lazarus, world, week, kingdom, important


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This NY farmhouse was built in 1687 and is now listed for $1.3M: Take a look inside


This NY farmhouse was built in 1687 and is now listed for $1.3M: Take a look inside Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-21
Keywords: news, cnbc, companies, ny, listed, built, farmhouse, look, inside, 1687, 13m



Company: cnbc, Activity: cnbc, Date: 2018-10-21
Keywords: news, cnbc, companies, ny, listed, built, farmhouse, look, inside, 1687, 13m


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Ford pokes fun at tech visionaries in new Bryan Cranston ad campaign

Ford, which is wrestling with slowing sales and a stock price at its lowest level in nine years, is trying to overhaul its image and juice its sales with a new ad campaign. “Breaking Bad” star Bryan Cranston anchors the new “Built Ford Proud” ad campaign that kicks off with a series of television commercials set to air during college football games this weekend. “Talk doesn’t get things done, building does … like we have for the last 115 years,” Cranston says against a variety of scenes that p


Ford, which is wrestling with slowing sales and a stock price at its lowest level in nine years, is trying to overhaul its image and juice its sales with a new ad campaign. “Breaking Bad” star Bryan Cranston anchors the new “Built Ford Proud” ad campaign that kicks off with a series of television commercials set to air during college football games this weekend. “Talk doesn’t get things done, building does … like we have for the last 115 years,” Cranston says against a variety of scenes that p
Ford pokes fun at tech visionaries in new Bryan Cranston ad campaign Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-18  Authors: phil lebeau, source, ford motor co
Keywords: news, cnbc, companies, ad, pokes, ford, stock, tech, wrestling, bryan, built, sales, campaign, building, fun, cranston, weekendtalk, visionaries


Ford pokes fun at tech visionaries in new Bryan Cranston ad campaign

Ford, which is wrestling with slowing sales and a stock price at its lowest level in nine years, is trying to overhaul its image and juice its sales with a new ad campaign.

“Breaking Bad” star Bryan Cranston anchors the new “Built Ford Proud” ad campaign that kicks off with a series of television commercials set to air during college football games this weekend.

“Talk doesn’t get things done, building does … like we have for the last 115 years,” Cranston says against a variety of scenes that poke fun at today’s high-tech visionaries while touching on the company’s historical American roots and “Built Ford Tough” slogan of past campaigns. “Let the other guys keep dreaming about the future. We’ll be the ones building it.”

The ads come at a crucial time for Ford. Its overall U.S. sales are down 2.4 percent this year and Ford brand sales have fallen 11.3 percent. By comparison, it’s being outperformed by the rest of the auto industry’s sales, which are down by an average of less than 1 percent. GM’s sales are down 1.2 percent this year and Fiat Chrysler’s are up 6.4 percent. Morgan Stanley analyst Adam Jonas downgraded Ford’s stock Friday, saying its earnings and cash flow are under pressure and its dividend is at risk.


Company: cnbc, Activity: cnbc, Date: 2018-10-18  Authors: phil lebeau, source, ford motor co
Keywords: news, cnbc, companies, ad, pokes, ford, stock, tech, wrestling, bryan, built, sales, campaign, building, fun, cranston, weekendtalk, visionaries


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Parts of a virtual border wall built with tech behind driverless cars

A virtual wall would not offer a physical deterrence, but some people believe it would be cheaper to build and maintain. In June, after more than 4,000 employees protested the project, Google withdrew from an effort to build artificial intelligence for the Defense Department. Joe Martinez, Val Verde County’s sheriff, has helped test the Quanergy sensors. What’s more, lidar sensors are expensive. But Mr. Aguilar said he believed that demands on the border for new sensors and new artificial intell


A virtual wall would not offer a physical deterrence, but some people believe it would be cheaper to build and maintain. In June, after more than 4,000 employees protested the project, Google withdrew from an effort to build artificial intelligence for the Defense Department. Joe Martinez, Val Verde County’s sheriff, has helped test the Quanergy sensors. What’s more, lidar sensors are expensive. But Mr. Aguilar said he believed that demands on the border for new sensors and new artificial intell
Parts of a virtual border wall built with tech behind driverless cars Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-18  Authors: cade metz, tamir kalifa, the new york times
Keywords: news, cnbc, companies, cars, technology, tech, valley, intelligence, sensors, artificial, quanergy, technologies, parts, virtual, lidar, driverless, wall, border, built, rio


Parts of a virtual border wall built with tech behind driverless cars

DEL RIO, Tex. — In this tiny town at the edge of South Texas brush country, a black steel fence runs along the Mexican border. About 15 feet high and topped by small metal spires that bend toward Mexico, it stretches west from a Border Patrol checkpoint for about a mile and a half. Then it stops.

Where the fence ends, a creek snakes off the Rio Grande, up through a private ranch where cattle wander between the mesquite trees. There, beside the creek gully, a small black cylinder sits atop a metal pole, looming over the small trees. It is a lidar sensor, the same laser-based technology that gives sight to self-driving cars. From its perch, it captures a three-dimensional image of anyone who walks into the area.

The sensor belongs to a Silicon Valley start-up called Quanergy, one of a number of companies trying to land business along the Mexican border. While President Trump still vows to build a physical border wall, these companies hope to help build a “virtual wall” that some policymakers believe would be more effective than miles of concrete and metal. A virtual wall would not offer a physical deterrence, but some people believe it would be cheaper to build and maintain.

More from The New York Times:

Border patrol agent arrested in connection with murders of 4 women

Trump says hispanic-american border patrol agent ‘speaks perfect english’

Trump has it backward: many migrants are victims of crime

“The only way to have operational control of the border is to look at all 2,000 miles of it at the same time,” said Representative Will Hurd, a Republican who represents Val Verde County, west of San Antonio. “And the only way to do that is through technology.”

Founded in 2012 and backed by more than $160 million in funding, Quanergy was one of the many lidar makers created amid a rush to develop driverless cars. Over the last year, that investment boom started to feel like a glut as autonomous vehicle technology improved more slowly than some had hoped. Border control is another potential market for lidar, which can spot objects and people in all sorts of conditions, day or night.

Working with the Val Verde County Sheriff’s Office, Quanergy has spent the past year testing its lidar sensors on the ranch in Del Rio, angling for a contract with United States Customs and Border Protection.

A range of technologies being developed in Silicon Valley is well suited to border control. When combined with recent advances in artificial intelligence, digital cameras, lidar and other sensors can identify and track people and objects with considerable accuracy.

But many tech workers have made it clear in recent months that they don’t want to work on military or government surveillance projects. In June, after more than 4,000 employees protested the project, Google withdrew from an effort to build artificial intelligence for the Defense Department. Border and immigration enforcement is even more controversial. Microsoft and Salesforce employees, for example, have protested the companies’ contracts with Immigration and Customs Enforcement.

Still, where some see a moral quandary, others see a business opportunity. More than 20 companies have worked on the Pentagon project that Google pulled out of.

Another start-up, Anduril, is testing technology in the Rio Grande Valley that uses things like digital cameras and artificial intelligence to track people coming across the border. Its founders included Palmer Luckey, who built the virtual reality company Oculus and sold it to Facebook for $2 billion in 2014.

Mr. Luckey left Facebook two years later after it was revealed that he supported a political action group that spread anti-Hillary Clinton memes. Not long after, he started working on his new company. Trae Stephens, the investor who founded Anduril with Mr. Luckey, tried to distance the company from Mr. Luckey’s history of political provocation when asked about it in an interview.

“It is a national security company,” he said.

Quanergy’s executives also hope to keep politics at arm’s length. In a recent interview, Louay Eldada, a founder and the chief executive of Quanergy, said the company always planned to expand beyond driverless cars. Border control, he said, was an obvious candidate.

Cogniac, another Silicon Valley start-up that offers technology for identifying people and objects in camera images, is exploring similar work.

Customs and Border Protection already uses a wide variety of technology on the border, including video cameras, flying drones, aerostat blimps, infrared goggles and pressure sensors. But these technologies are deployed in a piecemeal way, and officials have yet to use artificial intelligence that can automatically analyze data captured by cameras and other sensors.

In many areas along the Texas border, there is no technology in place — not even fences. Border Patrol agents still use trucks to drag old tires up and down the border, smoothing the dirt on roads and paths so they can spot footprints later. They call it “sign cutting.”

Mr. Hurd, the congressman, is advocating for a wider technological system. “The question is: How do you cut for sign in the digital age?” he said. “We should get to a point where we see absolutely everything coming across our border.”

That could include the kinds of sensors tested by Quanergy in Del Rio, which can capture activity across 360 degrees and a distance of about 100 meters. Using this three-dimensional view of an area, software can automatically pinpoint people moving past and alert border agents.

If lined up in large numbers and paired with cameras that snap images when movement is detected, these sensors could provide a more detailed picture of border activity and help agents organize their activities.

But the devices are limited. If left unprotected, they are easily vandalized. And they require both electrical power and a network connection. Quanergy has tested its sensors with solar panels, which eliminate the need for power lines. Still, along most parts of the border, the authorities would have to install new fiber lines or cell towers.

Joe Martinez, Val Verde County’s sheriff, has helped test the Quanergy sensors. He said he believed they could be a big help along some parts of the border. But if these sensors were used in the vast, rocky, undulating spaces in the western part of his county, he said, border and other law enforcement agents would have difficulty responding to alerts within any reasonable amount of time.

“The needs to the west are different,” Mr. Martinez said. “And the needs to the south are different.”

What’s more, lidar sensors are expensive. Quanergy charges a few thousand dollars per unit. Old tires are considerably cheaper.

Such sensors, Mr. Martinez and others said, are best used in tandem with a wide variety of other methods under development. “This is about a layering of technologies,” said David Aguilar, a former acting commissioner of Customs and Border Protection and a principal at Global Security and Innovative Strategies, a consulting firm in Washington. Current officials with the agency said it was testing many technologies with companies in Silicon Valley, with the goal of deploying new artificial intelligence techniques in the field.

Some question whether these technologies will eat away at the privacy of residents. Much of the land at the border is private.

Guadalupe Correa-Cabrera, a professor at the University of Texas Rio Grande Valley who specializes in border protection issues, said authorities should concentrate on border checkpoints, where a large portion of illegal crossings occur.

“None of these things make sense to me,” said Ms. Correa-Cabrera, who is also a fellow at the Wilson Center, a think tank in Washington. “Why would we continue to spend on technology that is not solving the problem?”

But Mr. Aguilar said he believed that demands on the border for new sensors and new artificial intelligence would grow.

“We started talking about this many years ago,” he said. “But the technology wasn’t as mature as it is now.”


Company: cnbc, Activity: cnbc, Date: 2018-09-18  Authors: cade metz, tamir kalifa, the new york times
Keywords: news, cnbc, companies, cars, technology, tech, valley, intelligence, sensors, artificial, quanergy, technologies, parts, virtual, lidar, driverless, wall, border, built, rio


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From Spice Girl to fashion icon: How Victoria Beckham built her clothing empire

Victoria Beckham the fashion brand started off small, she told CNBC’s Tania Bryer, speaking at London Fashion Week on Sunday. “At the beginning, it was 10 dresses and I showed the dresses and then I sold the dresses and now it’s so much more complicated,” she said. So I’ve learnt a lot from my team and I’ve learnt a lot about the business. Beckham showed a collection for the first time at London Fashion Week on Sunday, having previously showed her clothing in New York. An art gallery next to her


Victoria Beckham the fashion brand started off small, she told CNBC’s Tania Bryer, speaking at London Fashion Week on Sunday. “At the beginning, it was 10 dresses and I showed the dresses and then I sold the dresses and now it’s so much more complicated,” she said. So I’ve learnt a lot from my team and I’ve learnt a lot about the business. Beckham showed a collection for the first time at London Fashion Week on Sunday, having previously showed her clothing in New York. An art gallery next to her
From Spice Girl to fashion icon: How Victoria Beckham built her clothing empire Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-17  Authors: lucy handley, tim roney, getty images, victoria beckham
Keywords: news, cnbc, companies, dresses, beckham, icon, fashion, started, clothing, week, empire, told, london, victoria, team, showed, lot, girl, built, ive, spice


From Spice Girl to fashion icon: How Victoria Beckham built her clothing empire

Victoria Beckham the fashion brand started off small, she told CNBC’s Tania Bryer, speaking at London Fashion Week on Sunday. “At the beginning, it was 10 dresses and I showed the dresses and then I sold the dresses and now it’s so much more complicated,” she said.

She’s not a trained designer and has relied on her team to help build the brand, now stocked in more than 400 stores.

“There was two of us when I first started and it was just dresses, whereas now, we’ve grown. It’s not just dresses, it’s tailoring, it’s knitwear, it’s a complete wardrobe, plus accessories as well. So I’ve learnt a lot from my team and I’ve learnt a lot about the business. I’ve had to, I hadn’t done this before, so I’ve surrounded myself with the right people and the team has grown each season,” Beckham told Bryer.

Beckham showed a collection for the first time at London Fashion Week on Sunday, having previously showed her clothing in New York. An art gallery next to her Mayfair boutique was the location for the catwalk collection, shown to an audience of 250.


Company: cnbc, Activity: cnbc, Date: 2018-09-17  Authors: lucy handley, tim roney, getty images, victoria beckham
Keywords: news, cnbc, companies, dresses, beckham, icon, fashion, started, clothing, week, empire, told, london, victoria, team, showed, lot, girl, built, ive, spice


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This life-size, driveable Bugatti Chiron supercar is built entirely from Legos — take a look

The Lego Bugatti Chiron is fully functional and can fit two passengers inside. Lego says the car can accelerate to slightly over 12 miles per hour (theoretically up 18 miles per hour) and weighs over 3,000 pounds. It also boasts 5.3 horsepower, as well as real Bugatti Chiron wheels. Although there is no gas or acceleration pedal (as the car is driven by voltage level), there is a working pedal for the brake. “[F]rom 20 meters away it’s not obvious that you are looking at a Lego car.


The Lego Bugatti Chiron is fully functional and can fit two passengers inside. Lego says the car can accelerate to slightly over 12 miles per hour (theoretically up 18 miles per hour) and weighs over 3,000 pounds. It also boasts 5.3 horsepower, as well as real Bugatti Chiron wheels. Although there is no gas or acceleration pedal (as the car is driven by voltage level), there is a working pedal for the brake. “[F]rom 20 meters away it’s not obvious that you are looking at a Lego car.
This life-size, driveable Bugatti Chiron supercar is built entirely from Legos — take a look Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-31  Authors: sarah berger, source
Keywords: news, cnbc, companies, lifesize, built, entirely, yes, pedal, miles, lego, driveable, hour, car, wheels, working, supercar, chiron, legos, bugatti, look


This life-size, driveable Bugatti Chiron supercar is built entirely from Legos — take a look

The Lego Bugatti Chiron is fully functional and can fit two passengers inside. Lego says the car can accelerate to slightly over 12 miles per hour (theoretically up 18 miles per hour) and weighs over 3,000 pounds. It also boasts 5.3 horsepower, as well as real Bugatti Chiron wheels. Two batteries in the car serve as its overall power source. Although there is no gas or acceleration pedal (as the car is driven by voltage level), there is a working pedal for the brake.

And yes, it’s been taken for a spin — by former champion racer Andy Wallace.

“[F]rom 20 meters away it’s not obvious that you are looking at a Lego car. I can only imagine how much time and effort went into making this model,” says Wallace.


Company: cnbc, Activity: cnbc, Date: 2018-08-31  Authors: sarah berger, source
Keywords: news, cnbc, companies, lifesize, built, entirely, yes, pedal, miles, lego, driveable, hour, car, wheels, working, supercar, chiron, legos, bugatti, look


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Functioning Apple computer built in 1970s up for auction

A piece of computer history that helped launch a trillion dollar company is hitting the auction block. A fully functioning Apple-1 being auctioned by Boston-based RR Auction in September is one of only 60 or so remaining of the original 200 that were designed and built by Steve Jobs and Steve Wozniak in 1976 and 1977. It was restored to its original, operational state by Apple expert Corey Cohen. It shows the humble beginnings of Cupertino, California-based Apple, which recently became the world


A piece of computer history that helped launch a trillion dollar company is hitting the auction block. A fully functioning Apple-1 being auctioned by Boston-based RR Auction in September is one of only 60 or so remaining of the original 200 that were designed and built by Steve Jobs and Steve Wozniak in 1976 and 1977. It was restored to its original, operational state by Apple expert Corey Cohen. It shows the humble beginnings of Cupertino, California-based Apple, which recently became the world
Functioning Apple computer built in 1970s up for auction Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-26  Authors: justin sullivan, getty images
Keywords: news, cnbc, companies, steve, 1970s, worlds, functioning, computer, original, trillionthe, valued, company, auction, apple, built, wozniak, trillion


Functioning Apple computer built in 1970s up for auction

A piece of computer history that helped launch a trillion dollar company is hitting the auction block.

A fully functioning Apple-1 being auctioned by Boston-based RR Auction in September is one of only 60 or so remaining of the original 200 that were designed and built by Steve Jobs and Steve Wozniak in 1976 and 1977.

It was restored to its original, operational state by Apple expert Corey Cohen. The system was operated without fault for approximately eight hours in a test. It even includes the original keyboard from the 1970s.

It shows the humble beginnings of Cupertino, California-based Apple, which recently became the world’s first publicly traded company to be valued at $1 trillion.

The Apple 1 originally sold for about $666. It could get $300,000 or more at auction.


Company: cnbc, Activity: cnbc, Date: 2018-08-26  Authors: justin sullivan, getty images
Keywords: news, cnbc, companies, steve, 1970s, worlds, functioning, computer, original, trillionthe, valued, company, auction, apple, built, wozniak, trillion


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The 2018 Fiat 124 Spider Lusso is like a quieter and more luxurious Miata

The Fiat 124 is built along the same lines as the Mazda MX-5 Miata in Japan. It has the same underpinnings, but with a few tweaks like a Fiat engine and a larger trunk. That’s a far cry from the original Fiat 124 Spider from which this car gets its name, which was built in Italy by Pininfarina. Still, if you’re going to borrow, borrow from the best. A lot of what makes the Miata great still shines through in the 124 Spider, as the Fiat is still a brilliant little thing to drive.


The Fiat 124 is built along the same lines as the Mazda MX-5 Miata in Japan. It has the same underpinnings, but with a few tweaks like a Fiat engine and a larger trunk. That’s a far cry from the original Fiat 124 Spider from which this car gets its name, which was built in Italy by Pininfarina. Still, if you’re going to borrow, borrow from the best. A lot of what makes the Miata great still shines through in the 124 Spider, as the Fiat is still a brilliant little thing to drive.
The 2018 Fiat 124 Spider Lusso is like a quieter and more luxurious Miata Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-24  Authors: mack hogan
Keywords: news, cnbc, companies, 124, underpinnings, 2018, fiat, quieter, miata, lusso, tweaks, borrow, luxurious, spider, built, trunkthats, youre


The 2018 Fiat 124 Spider Lusso is like a quieter and more luxurious Miata

The Fiat 124 is built along the same lines as the Mazda MX-5 Miata in Japan. It has the same underpinnings, but with a few tweaks like a Fiat engine and a larger trunk.

That’s a far cry from the original Fiat 124 Spider from which this car gets its name, which was built in Italy by Pininfarina. Still, if you’re going to borrow, borrow from the best.

A lot of what makes the Miata great still shines through in the 124 Spider, as the Fiat is still a brilliant little thing to drive. The Spider’s steering feels notably less direct than the Miata, but it still provides plenty of feedback and feel.


Company: cnbc, Activity: cnbc, Date: 2018-08-24  Authors: mack hogan
Keywords: news, cnbc, companies, 124, underpinnings, 2018, fiat, quieter, miata, lusso, tweaks, borrow, luxurious, spider, built, trunkthats, youre


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How Todd Brooks built TripAdvisor fave Brooks Gourmet Burgers & Dogs

We really started shaking hands with people in town that third year. We took really good care of people who came through, and that’s what started changing things.” “Naples is full of elite restaurants, and you come in here and I’m like ‘Hey! Still, it didn’t occur to Brooks that all the right ingredients for a successful restaurant — great burgers, great design and great hospitality — would carry the eatery’s notoriety beyond Naples. “Right around the fourth year of us being around, in 2013, we


We really started shaking hands with people in town that third year. We took really good care of people who came through, and that’s what started changing things.” “Naples is full of elite restaurants, and you come in here and I’m like ‘Hey! Still, it didn’t occur to Brooks that all the right ingredients for a successful restaurant — great burgers, great design and great hospitality — would carry the eatery’s notoriety beyond Naples. “Right around the fourth year of us being around, in 2013, we
How Todd Brooks built TripAdvisor fave Brooks Gourmet Burgers & Dogs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-15  Authors: jimmy im, brooks burgers
Keywords: news, cnbc, companies, told, gourmet, great, started, come, built, naples, fave, tripadvisor, thats, todd, dogs, restaurants, really, brooks, restaurant, burgers


How Todd Brooks built TripAdvisor fave Brooks Gourmet Burgers & Dogs

Eventually, the couple started to get out into the community more.

“We were still so new in Naples and never had the time to meet anyone since we were working so much. We really started shaking hands with people in town that third year. We took really good care of people who came through, and that’s what started changing things.”

Brooks had upgraded the beef from Lindburgers’ variety when he opened the place, but since then it wasn’t a new menu or different food — word-of-mouth marketing became the secret sauce, so to speak, and the restaurant gradually started making money.

“Naples is full of elite restaurants, and you come in here and I’m like ‘Hey! Have a seat! Make yourself at home!’ and people are like, ‘Wow, I love this,'” says Brooks.

If anyone ever had a complaint about anything, it never went unanswered, says Brooks. “I followed every social media site that was out there to respond to reviews. Every phone call and letter I responded to was like, ‘Hey, you are the most important person in the world for us. Come back and let me fix this.’ People actually came back and said ‘We never had anyone invite us back, apologize, then cook for us,’ and they became our advocates and they told people to come by. They told everyone about us, and it just started snowballing.”

Still, it didn’t occur to Brooks that all the right ingredients for a successful restaurant — great burgers, great design and great hospitality — would carry the eatery’s notoriety beyond Naples.

“Right around the fourth year of us being around, in 2013, we got voted the top 10 local restaurants in Naples by TripAdvisor,” Brooks says.

“I was like ‘that’s kinda cool’ and didn’t think a lot about it — but then all these tourists started showing up,” he says. “Then, eventually, we climbed up to No. 1 locally, and in 2014 we were ranked No. 6 in the nation for best burger on TripAdvisor.

“We had no idea it was coming. Our restaurant got annihilated. Our business literally tripled.”


Company: cnbc, Activity: cnbc, Date: 2018-08-15  Authors: jimmy im, brooks burgers
Keywords: news, cnbc, companies, told, gourmet, great, started, come, built, naples, fave, tripadvisor, thats, todd, dogs, restaurants, really, brooks, restaurant, burgers


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How Bill Smith built Shipt and sold it to Target for $550 million

“That was an important lesson,” says Smith, if a needlessly expensive one. “The lesson learned is test the ideas first in the lowest cost way and just take a simple approach,” Smith adds. At that time, in December 2014, Smith says the company was on the brink of shutting down. “[My wife and I] went to the grocery store for the first time with a 1-year-old and a newborn and it was such a huge pain. That did not exist in grocery at all like it did with general merchandise retailers like Best Buy,”


“That was an important lesson,” says Smith, if a needlessly expensive one. “The lesson learned is test the ideas first in the lowest cost way and just take a simple approach,” Smith adds. At that time, in December 2014, Smith says the company was on the brink of shutting down. “[My wife and I] went to the grocery store for the first time with a 1-year-old and a newborn and it was such a huge pain. That did not exist in grocery at all like it did with general merchandise retailers like Best Buy,”
How Bill Smith built Shipt and sold it to Target for $550 million Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-10  Authors: sarah berger, photo courtesy of shipt
Keywords: news, cnbc, companies, grocery, million, bill, store, built, really, shipt, delivery, wife, target, delivered, smith, told, way, sold, 550, service


How Bill Smith built Shipt and sold it to Target for $550 million

It didn’t work.

“We launched that, and what I figured out really quickly…was that people don’t want a dis-integrated experience. They want to be able to go to a site and do everything in one place and checkout and be done,” he says.

“That was an important lesson,” says Smith, if a needlessly expensive one. “I could have really tested my initial idea by using a Google Sheet and a form and posting on Facebook and saying, ‘Hey I’m delivering from these retailers, fill this form out,’ and we could have built a manual process.

“The lesson learned is test the ideas first in the lowest cost way and just take a simple approach,” Smith adds.

At that time, in December 2014, Smith says the company was on the brink of shutting down. The model wasn’t working and people were telling him there was more of a demand for groceries than anything else.

“I kept getting emails from people that tried the service that would say, ‘Hey, it’s cool that I can buy a pair of Beats headphones and get them delivered the same day, but what I really want is my groceries delivered,'” Smith says.

The idea of a same-day grocery delivery service didn’t initially connect with Smith until early January 2015, just a few days after his second baby was born and he experienced a stressful shopping trip with two infants in tow.

“[My wife and I] went to the grocery store for the first time with a 1-year-old and a newborn and it was such a huge pain. Both kids were crying in the store, and we just had to get the heck out of there.

“Literally in the parking lot of the grocery store I told my wife, ‘You know a lot of people have been asking for grocery delivery and I want to figure out a way to solve this problem.'”

The Monday after his epiphany, Smith walked into work and told his team they were going to pivot and put all efforts into grocery delivery and focus on building a fully integrated experience, where customers could do everything from purchasing the product to getting it delivered, all on one platform.

“At the time, nobody even had an in-store pickup option. That did not exist in grocery at all like it did with general merchandise retailers like Best Buy,” Smith says.

To validate that the service was indeed in-demand, he told his team not to write the first line of code until they had sold 1,000 memberships to the service. For the first time, he awarded all of his employees, roughly 10 of them, stock options in the company.

“I said, ‘Look, we’re going to try this. If you guys are in, awesome. If you’re not interested, it’s cool.’ And everybody stayed on board,” Smith says.


Company: cnbc, Activity: cnbc, Date: 2018-08-10  Authors: sarah berger, photo courtesy of shipt
Keywords: news, cnbc, companies, grocery, million, bill, store, built, really, shipt, delivery, wife, target, delivered, smith, told, way, sold, 550, service


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