Clearing January inventory

Q: I’m having a hard time clearing all my extra holiday inventory since January sales have been slow so far. What are my options so I can make room for new spring goods?

A: Unfortunately, there aren’t a lot of good choices left, besides further markdowns. One alternative (and this is a last resort) could be as follows. If you have reasonable range of merchandise that would be salable in fall ’13, pack it away and submit it as on-order for next season. I offer this as an option but I don’t really like the idea. Progressive markdowns are probably the answer. Aside from that, make sure you’re not in this position in the future by putting a good inventory plan in place. Best of luck.

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avatar About Steve Pruitt

Steve Pruitt is founder and Senior Consultant of Blacks Retail Analysis and Blacks Consulting. With over 30 years of experience, Steve is one of the most respected merchandise analysts in the industry. His specialty is apparel merchandising and he has worked with clients in every sector of this category. Steve’s approach is highly customized; he tailors his analyses to the particular needs and market of each client. His work ties together the merchandising piece of the business with the client’s overall financial goals to increase sales and streamline operations. Steve is also a trusted general business consultant, known for his ability to help retailers plan growth and manage change.
 
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Steve@Blksretail.com
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