Download May Department Stores (Famous Barr)

The MAY Department Stores
Company
Explore a Career in Retail.
What is a Career in Retail?
STORES ORGANIZATION
BUYING ORGANIZATION
Advertising….Distribution….Finance….Sales Support….Legal
Consumer Research….Design & Technical….Merchandising
What is Merchandising?
Buyers & Assistant Buyers work to maximize sales and
profitability through traditional marketing avenues:
PRODUCT: Selecting items and vendors the
customer will respond to.
PRICE: Negotiating costs and retails to turn the
product profitably and efficiently.
PLACE: Determine which stores receive goods and
when the product hits the floor.
PROMOTION: Plan and execute advertising and
promotional pricing strategies.
PRESENTATION: Enticing the customer to purchase.
PRODUCT
Using LY SALES to determine vendor/product mix
Analyzing TREND FORECASTS prior to market
Choosing best volume-driving KEY ITEM assortments
Understanding role of OPEN-TO-BUY
Managing CARRYOVER inventory and understanding
STOCK/SALES performance
 Prior, current and future VENDOR PERFORMANCE
 Understanding CLASSIFICATION penetration
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PRICE
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Hitting key PRICE POINTS
Weight of customer PERCEIVED VALUE of product
Using VOLUME DISCOUNTS to build margin
Researching COMPETITION
Analyze planned TURNOVER and AVG. RETAIL
PLACE (DISTRIBUTION)
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Determine METHOD of delivery to warehouse
Negotiate delivery COSTS
Effect of ADVERTISING on delivery
Using DOOR TRENDS and inventory status
Understanding customer/door GEOGRAPHICS
TRACKING all purchase orders
Researching current U.S. CUSTOMS and
INTERNATIONAL shipping conditions
PROMOTION
 Planning and executing ADVERTISING campaign
 Negotiating responsibility for advertising COSTS
 Proof LAYOUT and DESIGN of advertising
 Implementing MARKDOWN strategy
 MARGIN implication as a result of markdowns
 Planning the promotional CALENDAR
PRESENTATION
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Mapping layout of SALES FLOOR
Buying a presentation (T-STAND, TABLE, HANGING)
SIGNING the merchandise
Negotiating SHOPS
Vendor supported COLLATERAL
BUYING CAREER
PATH
GMM
DMM
Buyer
Area Sales Manager
Assistant Buyer
Executive
Trainee
Assistant Buyer
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Work Directly with a Buyer
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Prepare Sales and Profitability Analysis
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Learn Product, Financial and Inventory
Management
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Input Pricing, Sales and Markdowns
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Execute Advertising Strategy
Build Store and Vendor Relationships
Learn Skills Vital to Success as a Buyer
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Area Sales Manager
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Work Directly with a Divisional Manager
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Manage Customer Service, Monitor
Associate Performance & Sales
Productivity
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Execute Merchandise Standards
(signing, sales events, merchandise flow, key item statements)
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Screen, Interview and Hire Associates
Maintain Shortage Standards
Avg. Annual Volume: $2.5 Million
Buyer
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Forecast Trends, Analyze Buying
Patterns, Produce Sales
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Monitor and Maintain Inventory Levels
& Pricing Plan, Plan Seasonal
Promotions, Negotiate Prices &
Allowances from Vendors
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Develop Assistant Buyers, Executive
Trainees & Interns into Successful
Merchants
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Avg. Annual Sale Volume: $15 Million
Divisional Merchandise Manager
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Supervise & Develop a Group of Buyers
Allocate Financial Resources
Develop Advertising & Pricing Strategies
Get Sales to the Bottom Line
General Merchandise Manager
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Supervise & Develop a Group of DMM’s
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Conduct Market Analysis & Drive Market
Penetration
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Develop & Implement Strategies
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Profit & Loss Responsibility
Why A Career in Retail?
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Utilize Marketing and Finance
Exposure to Multiple Business Disciplines
Manage a Multi-million $ Business
High Level of Decision Making
Individual Performance Counts
Opportunity for Travel
Product Discounts
Challenging, Fast Paced and Dynamic
What is the MAY Department
Stores Company . . .
A Family of America’s Finest
Department Stores
Headquarters: St. Louis, MO
What is the
MAY Department Stores Company
12 Store Trade Names
8 Regional Headquarters
1 Specialty Store Division
State with May department stores
Who is May Department Stores?
NAME
HEADQUARTERS
SALES
STORES
Filene’s/Kaufmann’s
Boston
$3.4
96
Robinson’s-May/
Los Angeles
$2.7
71
Hecht’s/Strawbridge’s
Washington, D.C.
$2.5
80
Foley’s
Houston
$2.2
65
Lord & Taylor
New York City
$2.0
84
Famous Barr/
St. Louis
$1.2
43
Philadelphia
$0.3
400
Meier & Frank
L.S. Ayres/
The Jones Store
The Bridal Group
May facts. . .
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Operate 439 quality department stores
in 44 states, the District of Columbia
and Puerto Rico
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The Bridal Group operates 150 David’s
Bridal stores, 240 After Hours stores
and 10 Priscilla of Boston stores
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Revenue over $14 Billion
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A Fortune 200 Company
Retail Success Characteristics . . .
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Gets Results
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Sets Challenging Goals
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Energizes Others
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Wants to Learn
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Asks Probing Questions
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Does Good Analysis & is Well Organized
The MAY Department Stores
THANK YOU
www.maycompany.com