Who Are You? A Guide to the New You, Part 2

As Cuba Gooding Jr. said to Tom Cruise in Jerry Maguire: “Show me the money!” Analyze not only your balance sheet but also all your jewelry categories so you know your real gross margin return on investments. This will enable you (and your buyers) to develop a smarter game plan come buying time at the shows. It will arm you with the data you need to hold informed conversations with your suppliers and effectively rebut their insistence that you need to buy more inventory from them, if your figures show you are already too deep in that category. This also puts you in a position of negotiating power with vendors when you need to refinance credit terms and improve merchandise return/service plans. Only when you know what’s profitable and what’s costing you money can you decide if it’s worth keeping loss leaders. Store environment also affects success. Take a hard look at your sto
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