James Thompson

That's all we want.

The rest of it will take care of itself.

And I think that's still the central part of big box retailing.

You think, I need to buy a shovel.

Oh, I wonder if there's a little hardware store.

No, your mind's straight away going to Bunnings.

So I think the big box premise holds up pretty well.

Jane Herdlick has promised to sell off some of these winery assets that

Endeavour Group has collected over the years.

I think that's smart.

There's no need to own wineries when there's so much wine around in the world.

You can get great deals through that wine glut.

And she's also continuing to invest and renovate some of these pubs, which hopefully increases the patronage.

So the strategy sounds broadly right.

It gets back to what you said, though, Anthony.

Can you get growth beyond population growth?

That's going to be the really hard bit.

But I would say Herdlicker's track record at Virgin and Jetstar of finding ways to get customers excited is pretty impressive.

And that's the magic.

It's all going to be in the execution, I reckon.