This Article appears in the November/December 2011 issue of Shoe Retailing Today. For more information, please visit the National Shoe Retailers Association @ www.nsra.org.
An Excerpt from this Article:
“‘Turn, Turn, Turn’ should be every retailer’s theme song today. If we put a retail spin on the lyrics, increasing sales volume would undoubtedly be the opening verse. Following would be a refrain on selling inventory more quickly. In other words, faster turn! Notice I did not mention margin. The margin that you maintain is irrelevant if sales are not suffi- cient to cover expenses and merchandise receipts.”
To view this Article in PDF Format, Click Here.
The Following Article, written by our own Ritchie Sayner, appears on Independent Retailer’s website.
Excerpt:
“Once we knew the cost, we would make a decision to buy or pass the item. Basing the retail price around the intrinsic value of the merchandise, instead of it’s cost, helped us to increase our initial markup. Perhaps this strategy would work for your store as well.”
Read the Article: Is Your Initial Markup Enough?
This Article was written by Ritchie Sayner, and was originally published in the January/February issue of Shoe Retailing Today, in Conjunction with the NSRA.
Excerpt:
“Most folks in the retail business have an inherent disdain for the very word. Taking too many markdowns represents failure in some area or another. Overbuying, duplication, poor timing of deliveries, bad assortment planning, are all recognized causes of markdowns. Excessive markdowns raise the cost of goods sold and result in a reduction in gross margin. When margin levels fall below those of operating expenses, the store has a net loss.”
To view this Article in PDF Format, Click Here.
