Target reported Q1 2021 earnings. I'll leave the results to the financial folks. I love the supply chain story personally, so let's talk about that.

• In terms of comps to Walmart, I am more bullish on Target than Walmart. You can just tell Target sweats more details than Walmart. You can feel the number of improvements and it is obvious many of the ideas just come from their staff, who they value greatly.

• The level of detail and specificity in Target's "stores as hub" supply chain is nice to see. You can always tell a well-run business when they understand the entire value chain and are working on each part to make it faster and more efficient. This has benefits in reducing cost, making employees happier, and improving customer experience. All wins.

In contrast, Walmart's approach to its micro-fulfillment strategy feels like a "silver bullet." I really detest this kind of thinking generally. The details matter, and if you aren't willing to understand and improve every last detail, your business will not improve. Fair/not fair? These are just impressions.

• Target is looking to open a few larger format stores in the next year, in contrast to previous years, due to compelling real-estate opportunities.

• 75%+ of digital sales are fulfilled by stores