Retail Optimization Project
Result- Increased Net Operating Income by 459%
Increased Quarterly Net Operating Income by $27,506 compared to same quarter prior year.
Completed full retail assessment and identified several opportunities to drive sales and profits. Made several improvements including: fresh food COGS, product assortment, merchandising strategies, pricing strategies, and scheduling. Developed leadership capabilities to provide clear direction, coach, create accountability, and provide recognition. These competencies supported the execution of work leading to increased productivity and ultimately delivered results.
Key tactics leading to the project success include:
- Used store level data to adjusted product assortment. Removed over 60 Dead Items from the cooler alone and reset the space to highlight Top Sellers.
- Reset center of store to a more fluid floor plan and applied the same merchandising strategies applied in the cooler.
- Conducted a thorough Competitive Price Shop and updated the price book appropriately.
- Coached management to monitor and control vendor relationships.
- Identified Food Service COGS opportunities and worked with the management team to source lower cost options without compromising quality.
- Developed a Food Service plan in collaboration with management to improved profitability.
- Implemented a newly improved Coffee program, transitioning from a BIB system to a Fresh Brewed platform.
- Trained management team to use appropriate reports and store level data from the SSCS Back Office System to make good business decisions moving forward.
- Developed a Fuel Pricing Strategy and process to monitor competitors. Trained management to use data to better understand the market and make improved future decisions.