A: No, just the opposite. Business is good because merchants started taking moderate markdowns early on. In order to keep your business up, you need to clear out all of your old goods so you can land new merchandise. This means you have to keep on track with your planned markdowns. Remember that your ability to build margin is directly related to the margin you have on the floor, so the sooner you have new, full-priced goods, the better.
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.
Ask Steve about merchandise planning and strategy
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