• Created revised purchasing plan
  • Developed a bricks and clicks segment strategy
  • Inventory management improvement plan

The client is an omnichannel mall retailer with several hundred stores across North America. Several years of declining sales led to 300+ stores closings while the online business grew to approximately 1/3 of the sales. The CR3 team took four weeks to complete an assessment and issue a report to management. Utilizing a revised purchasing plan, the client successfully met sales goals for the season. CR3 followed up with a segment analysis which revealed a potential strategic plan for a bricks and clicks strategy that had not been previously explored, developed a detailed plan around the improvement of inventory management, and oversaw pursuit of these plans.

The Situation

  • Omnichannel mall retailer with several hundred stores across North America - specializes in personalized gifts and engraving
  • Several years of declining sales led to 300+ store closings, though online business was robust and had grown to approximately 1/3 of the sales
  • Major consulting firm assisted in a complete restructuring of operations and the balance sheet, yet one year after the restructuring, the downward trend had not been reversed and in some areas had accelerated

The Work

  • Financial Advisor
  • Performed assessment of liquidity, current year business plan, evaluated store, merchandise and promotional initiatives, inventory productivity, marketing efficiency and segment profitability
  • Completed four-week assessment and issued a report to management which contained findings, conclusions, recommendations and milestones
  • Client went on to implement most of the recommendations with the approval of the Board of Directors

The Results

  • Utilizing the revised purchasing plan, client successfully met sales goals for the season
  • CR3 followed up with a segment analysis which revealed a potential strategic plan for a bricks and clicks strategy that had not been previously explored
  • CR3 developed a detailed plan around the improvement of inventory management and oversaw pursuit of the plan

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