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WolfenSS
Joined: 17 Feb 2009
Posts: 15
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Posted: Fri Mar 06, 2009 12:35 am Post subject: Making budgets?
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I got my yearly sales figures for my three departments: tools, hardware, and storage. Roughly missed tools by $55000, hardware by $88000, and storage by $3100. Tools and hardware brought in over $2M each. For the times and the economy, I thought I did well for my first year as a DM. My ZM wants me to improve and says the economy is a bad excuse to use. I would like to know your thoughts?
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mdovell
Joined: 22 Dec 2007
Posts: 445
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Posted: Fri Mar 06, 2009 2:35 am Post subject:
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You have three departments where there isn't that much in the way of SOS let alone spiffs. Where I am usually organizational would end up with seasonal...maybe flooring.
I'd say...
1) j hook things that would sell in other departments. put some child safety in electrical and plumbing...some of the felt pads by the bar stools
2) sell or try to sell more of the extended plans on the tools
3) maybe take a look at the nearest stores and find out what products you might have that others don't. this might not sound like that big of a deal but chances are there could be a few items. Maybe try to ask for people to get referred to your store or try to work out ICB's
4) cross train some departments close to yours. If they can make just a small amount of sales it can help in the long run.
5) do a sales by product group report. Maybe view the amounts of margin of the products that are selling vs not selling. Technically it's margin that makes the difference. If something sells well at a high margin see if you can order more of it. If something doesn't sell and doesn't have a good margin maybe it can be non stocked.
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skibunny
Joined: 01 Feb 2008
Posts: 497
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Posted: Fri Mar 06, 2009 2:42 am Post subject:
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Sidestack some smaller cordless screwdrivers or drills down the home decor blinds aisle. J-hooks of tile bits in plumbing by the shower rods.
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WolfenSS
Joined: 17 Feb 2009
Posts: 15
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Posted: Fri Mar 06, 2009 3:00 am Post subject:
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A good thing about our store is that affective 03/21, I will loose two departments and have only Tools. We are gaining 3 DMs. Hardware/Tools are split up now. My SM informed me that he wants me train as a ZM. We have another store being opened up by years end, and several DMs and ZMs are leaving.
Thankyou all for help.
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skibunny
Joined: 01 Feb 2008
Posts: 497
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Posted: Fri Mar 06, 2009 7:02 am Post subject:
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The bad thing about getting more department managers for your store is that there is just that much more competition for zone jobs.
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