Cash Flow and Open to Buy
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Turn, Turn, Turn
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.
Video Developed in Partnership with ANLA.
The Friedman Group Complimentary Retail Webinar
Interviewing and Hiring Retail Salespeople – In this information packed retail webinar, international retail authority Harry J. Friedman will reveal the critical steps to hiring great salespeople. Practical, use-them-tomorrow techniques that will give you an edge in interviewing and selecting a team of top performing salespeople. To register your team for this complimentary webinar click on the link below.
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?