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By the Numbers: Inventory and Donuts

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By the Numbers: Inventory and Donuts

IF YOU WERE to turn the average U.S. jeweler’s inventory into a doughnut, here’s how it would look — stale and mostly inedible. Fresh inventory and fast sellers would account for just a third of all stock.?Remember that $100 of inventory should produce at least $100 of gross profit a year, so inventory that isn’t selling is costing you 100 percent in interest a year.
By the Numbers: Inventory and Donuts

This story is from the December 2008 edition of INSTORE.

David Brown is the President of The Edge Retail Academy (sister company of The Edge), who provide expert consulting services to help with all facets of your business including inventory management, staffing, sales techniques, financial growth and retirement planning...All custom-tailored to your store’s needs. By utilizing the power of The Edge, we analyze major Key Performance Indicators that point to your store’s current challenges and future opportunities. Edge Pulse is the ideal add-on to the Edge, to better understand critical sales and inventory data to improve business profitability. It benchmarks your store against 1100+ other Edge Users and ensures you stay on top of market trends. 877-569-8657, Ext. 001 or [email protected] or www.EdgeRetailAcademy.com

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MSG Jewelers has always treated its customers like family. When owner Mike George decided to retire and close the doors of his St. Louis, Missouri jewelry store, he selected a company to manage his going-out-of-business sale that treats its customers like family, too. That’s why he chose Wilkerson. “Wilkerson was able to do all the things that we needed,” says George. In the end, the bittersweet store closing was so much easier with Wilkerson at the helm. From marketing to pricing to inventory, Wilkerson does it all. “It’s a package deal,” says George.

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