Brian Cornell didn’t know U.S. retail just got rocked.

Last month, the CEO of Target was on a plane when Amazon said it would pay $13.7 billion to purchase Whole Foods Market, an acquisition that would make the Seattle online giant appear even more omnipotent than it already seemed. By the time Cornell landed, his phone was inundated with messages about the megadeal, including breathless headlines that declared the death of physical retail.

But then Cornell received a message from Chief Operating Officer John Mulligan: a photo of the retailer’s sales figures for the day.

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