The Roaring 20’s
History doesn’t necessarily repeat itself, but it does often rhyme. Having just come off of the best year for retail jewelry sales, perhaps ever, the questions are, how long will this last and how to plan for the rest of this year.
Got Cash? Now What?
The number of retailers who have told us that they have eliminated debt completely is astounding – and is especially notable for those who have never before been debt free.
Making Important Financial Decisions to Survive and Thrive
Now more than ever it is imperative that owners and managers know how to make fiscally sound decisions.
Tariffs
Beginning around now, a 10% tariff is going to be charged on some of your new purchases. Merchandise won’t have the same costs as was expected when the items were priced out earlier this year.
Death of A Thousand (Margin) Cuts
We’ve all gotten our share of small paper cuts, which might sting a bit, but are quickly forgotten. However, if you were to receive 1,000 small paper cuts all over your body at the same time, you would certainly notice them!
No One Noticed but the Bottom Line
Improving your bottom line is a challenge for many retailers. We tend to follow the same patterns of behavior over time (years and even generations) and therefore, markup and discounting wind up becoming a part of our culture, rather than having a net profit strategy.
Vanity, Sanity & Reality
I mentioned to him offhandedly...that we work with jewelers who have very impressive top line sales...with very low net profit as well as challenging cash flow, to which he simply said: “Vanity, Sanity & Reality”.
BIG Newsletter: Profit First
We need to go on a “Business Diet”. We all pretty much know what we have to do, even when we have to lose weight, we all know what steps we need to take to accomplish our goal. But how do we get the discipline to do it. The key is implementing a new way of life and putting procedures in place to insure that we don’t fall off the wagon.
A Method of Determining Inventory Levels for Retail Jewelers
It’s important to understand the nature of budgeting inventory using a formula. I have attempted in this article to explain an approach for determining inventory levels that can be used by any business, regardless of its makeup. However, using a goal, such as GMROI to arrive at an inventory budget does not address the myriad [...]
Determining Inventory Levels for Retail Jewelers
By Abe Sherman Inventory management and control is an economic imperative Your need to deconstruct the components of your business in order to have a deeper understanding of its parts is an imperative. In the stages of deconstruction, you’ll begin to ascertain what elements are vital in the analysis of determining inventory levels…and determining inventory levels [...]