After years of teaching at a university Dolly Loyd has decided to return to her first love—running an apparel store in the Gulf Coast. Since she use to manage a major chain before, she has kept up with the trends in the market. Dolly gained support from her ex-high school friend, who made millions form an internet software, how has gave her the start-up money for her new business. Dolly has begun to forecast her plans for her upcoming season. I am responsible of completing the following six-month merchandise budget for Dolly’s retail store. I am given the information for the total period, and I am responsible of calculating the monthly information. The following monthly graph depicts the merchandise budget for the season (Dunne):
Berry, Hannah. “The Fashion Industry: Free to Be an Individual.” The Norton Field Guide to
The company that I chose to research for my company profile paper is on the clothing store Francesca’s. Francesca’s is a boutique like store that contains different women’s fashion trends that range from clothing, jewelry, and shoes. Francesca’s also offers specialty items and gifts that include candles, wall art, and gag gifts (Coltrin, 2010). The reason I chose Francesca’s for this project is because this store interests me. I first started shopping at this store when I was about sixteen years old. The store quickly became very popular for my friends and I as the store offered something that we had never seen before; boutique items for reasonable prices. Francesca’s is becoming increasingly popular among women of all ages that are looking for fashionable one-of-a-kind items without breaking the bank.
As like every retail organization, Wet Seal Inc., has seen the best and worst during their years in business. With the 9/11 tragedy and other natural disasters, the nation’s economy had seen better days. Wet Seal Inc. stuck it out with Kathy Bronstein behind the wheel, and in late 2001 sales increased into the double digits, and stock was up 61% for the year. A vendor partner stated, “ She’s one of the greatest merchants I know in the industry...she lives, eats, and breathes this junior business.”
Belk Inc is one of the American mid-range, most sought after and the largest privately owned mainline department store company. It boasts of more than 300 classic fashion department stores mostly found in the southern states. Its outstanding dedication to diligently serving customers has earned it acceptance in sixteen states and sales totaling $3.5 billion in the past year. The rise of Belk has not been easy and its success has been inspired by the overwhelming and ever-swelling market in the southern states of the nation. The first store was established in 1888 by one ambitious man, Henry Belk in Monroe, NC with $750 in savings, a $500 loan, and $3,000 worth of goods taken on consignment. His passion and focus enabled
The sales director proposed that if the firm were to reduce the price of Item 345 to FF15.00/m, they would be able to increase sales to 175,000 units (or 25% of industry volume). But if they were to keep the price at the current value of FF20.00/m, they would be able to sell not less than 75,000 units (or 11% of industry volume).
...to a large hotel and in a tourist destination. Associate behaviors and tenure impacts sales as well. The selling of intimate apparel is more involved than the average person realizes. A good understanding of what will work best for each client is key and new associates have not committed to memory all that is necessary for success. However, a tenured associate will know how and what the client needs and ensure that she leaves happy.
Ron Johnson spent a great deal of time and money to promote his ideas of “stores-within-stores” by turning floor space into an area to house several branded boutiques. He did this in order to attract a target market of a wider demographic which includes age, gender, and generation. One of the m...
Many women have a serious interest in designer wear they follow trends and keep up with the latest fashion. There are fashion bloggers who are very popular that will come to the shop just to browse through new items and create look books for women. To advertise the business the owner can invite fashion bloggers to visit the boutique so they can blog about the shop and clothes. A small business owner running a boutique should also look into creating a website and a blog where consumers can shop online and also be able to follow the latest trends from the boutique that are in fashion. There are also woman who have interest in select items based on the material or are looking for something that other designer stores do not offer. It is important for the boutique to advertise the store to customers in a way that helps differentiate the store from others. For example, the designer boutique can carry items that are hard to find or are unique compared to other
Designs by Kate is a company that sells women’s jewelry using the direct sales method. DBK has seen sales success and growth despite unfavorable economic conditions and slow growth in the retail industry. With all of this being said Kate Creevey founder and CEO of DBK is concerned with her company’s top-line growth trajectory which has slowed down as of late. This issue has been attributed to a couple factors. The first factor is a “slowdown in the rate at which new sales representatives were transitioning to “leader” status and beginning to build their own teams.” This is a major issue because team building is central to DBK’s business model and success. The sales growth at DBK has been driven by the growth in the number
Georgia couldn’t wait to go back-to-school shopping and find a whole new wardrobe to start her fresh life in college. She was shopping on one of the ritziest streets in all of Washington D.C. and was having a lovely time finding just the perfect outfit for her first day of freshman year. Her arms could barely hold all of the shopping bags that she had gathered throughout the day. However, she knew there was one last shop up the road that she must go to before she retired for the day. Trés Chic was the store; it had the trendiest and priciest fashions on the whole street. Even though she was exhausted and was certain they were closing shortly, Georgia made her way there.
2. Explain what has happened to the data for Urban Run. What are the consequences of continuing to use seasonal exponential smoothing? What models would you use? Generate a forecast for the 4 quarters of the 4th year using your model. Determine your forecast error and the inventory consequences.
Idly standing on a busy street corner, one cannot help but observe a plethora of denim whiz by. Entrepreneur Levi Strauss is the man responsible for creating the booming market and generating a trend in clothing that has swept the nation for nearly 150 years. Through a steady commitment of quality and reliable service, Levi Strauss & Company became one of the most successful business ventures to come out of the 19th century. However, history for this company has not been all peaches and cream. Nearly every business must face crisis from time to time, but it is the unique ability of Levi Strauss & Co. to move on after each adversity, that has made them what they are today.
store managers and frontline personnel, play a critical role in the context of Zara’s business model. Using customised PDAs, store managers constantly communicate customer feedback, either hard data such as orders and sales trends or soft data like customer reactions to a new style or the “buzz” around a new design, to Zara’s HQ where the feedback is used by designers to quickly develop new garments based on customers’ wishes (Ferdows et al., 2004). Frontline employees assist their superiors in collecting the feedback. Zara’s store managers and shop assistants thus close the communication loop between shoppers and Zara’s HQ (Ferdows et al., 2004) and therefore contribute hugely to Zara being able to first understand what customers like and then design and produce it (Buck, 2014). Accounting for their key role, Zara pays store managers an above-average salary and up to 100% of their salary in bonuses if they hit sales targets (Ruddick,
If the company follow this recommendations, it will obtain a profit of $ 531,000 that represents $180,000 more than with seasonal production
The club is responsible for operating a successful on-campus boutique, the Style Shop. The store offers the unique opportunity for FIT students, faculty and alumni to sell their original creations on a consignment basis. This not only allows students to earn recognition and profit, it enables Merchandising Society members to gain experience in buying, product development, marketing, finance, customer relations, management, visual merchandising, and website development. The Style Shop offers students the chance to develop a sharper awareness of group dynamics, build professional relationships, and actively participate in our college education.