John Fisher

Wetzel's is kind of the opposite of that.

We literally have malls that have five stores in the same mall.

Because we're an impulse product, for us, it's really just about, is the mall big enough or is there enough traffic and different occasions to support different impulse purchases in that mall?

And is there cannibalization when you open a second store?

A little bit, but not very much.

It's pretty amazing.

I think I was surprised when I got here.

I was like, really?

You can have two stores in the same mall?

I've never seen that before.

And now I'm sitting here putting three and four in some malls because it's really about that impulse nature.

So they're not going there specifically for you.

You know, whether it's a subway or a theme park or a...

a stadium, you're going to have different locations based on where the people are to service them.

And so not a lot of businesses can do that.

Well, the proof is sort of in the profits.

I think you have to look at every concept and what works for that concept, where they are on that.

I'll call it the destination impulse spectrum.

Yes.

And if you're on the very high side of the impulse spectrum, you probably can get away with having several locations very close to each other.