-As a buyer for XYZ retail store (name your store) you will choose a classification of merchandise that you will buy.
-You will decide your store location and the type of store it will be.
This information will be backed up by documented valid research and trend information.
-Assume you have an OTB of $965,750 at retail to spend to stock your store.
-This OTB money will be for the spring season, which will encompass Feb, March, April, May, June and July of 2019.
This written portion of the project will be a minimum of three typed double space pages.
In it, you will cite the research material used to choose this type of store, its customer demographic and its location. You will also describe the reasons why you chose your specific product classification.
Using the figures provided you will calculate the following for your store.
Show this work on an Excel spreadsheet in traditional OTB grid format.
1. Open to buy for each month
2. Average monthly sales
3. Average monthly on order
4. Mark down % for each month
+ Planned reductions
+ Planned EOM Stock
= Total monthly needs
- BOM Stock
= Planned purchases
- Merchandise on order
= Open to buy
Using an Excel Spreadsheet:
-You will detail your open to buy merchandise, down to the style level (not size) by month.* Units in this spread sheet should yield the total OTB dollars by month and the total OTB of $965,750.
*When illustrating your style information, please be sure it is shown directly after the three page discussion portion of the project with cost, (50% mark up) and retail listed for each.
1. After careful analysis of the economic data from the U. S. Government, the XYZ store set a sales plan increase for the next years spring season (2020) of 9.7%. Based on this years sales plan what is the companies projected sales plan for the next season?
2. In the 2019 spring sales period the XYZ store had actual sales of $1,130,000.00. What was the increase/decrease for sales into 2019? Suggest reasons for the change from one season to the next.