TOFS (The Original Factory Shop) Boosts Gross Margin 8% with Enterprise BI

Founded in 1969, The Original Factory Shop (TOFS) currently operates more than 200 stores around the UK with a store format that includes thousands of products in a full range of styles, sizes, and colors. To keep prices low, TOFS must rely on careful inventory management and strict margin control. In late 2014, TOFS recognized [...]

The Week in Retail: How E-Commerce is Eroding Retail Earnings

A new report from HRC Advisory finds that retailers’ online sales are eroding in-store sales and taking a big bite out of retail profitability. Chain Store Age editor Marianne Wilson spoke with Antony Karabus, CEO, HRC Advisory, about the study and its implications for retailers. (CSA) What did you find most surprising [...]

Simplify the Move from Retail to Cost Method Accounting

Most retail software packages provide a retail stock ledger summarized by merchandise hierarchy, location and week. The stock ledger must follow accounting rules and therefore should not be used as the basis for planning decisions. This can be a dilemma for a retailer especially if this is the only reporting vehicle available for [...]

Clienteling IQ Challenge

Test your Clienteling IQ 42% of retail store associates know very little about their most profitable customers in order to engage with them effectively. Clienteling is a perfect example of how technology is helping retailers develop stronger relationships with shoppers. Think you're a Clienteling expert? You're 13 questions away from gaining insight about [...]

The Week in Retail – The Missing Piece of Omnichannel: Returns

Customers expect consistency across shopping channels. As customer expectations for interactions with retailers across sales channels have become more sophisticated, so too have their demands for how returns are handled. Most retailers are still struggling to understand and respond to the return process. Find out some best practices that true omnichannel retailers are [...]