The Retail Performance Report is Back! How Does Your Store Stack Up?
For over 40 years, the Retail Performance Report served as the benchmarking standard for the home furnishings industry. With the help of PROFITsystems, the North American Home Furnishings Association (NAHFA) is now bringing the report back in 2015.
The new Retail Performance Report is designed exclusively for the home furnishings industry to aid retailers in evaluating their performance relative to top performing and average firms. The metrics in the study represent critical performance indicators and aim to help retailers improve strategic planning, goal setting, and tactics. The survey will poll operational and financial data from retailers across North America.
The resulting report will be organized by Key Performance Measures that impact your profitability and productivity. Here are some of the highlights of the report:
- Sales Performance Indicators – Average sale, close rate, traffic, revenue per guest, sales per square foot, sales per salesperson
- Profit and Loss Comparison – gross margin, net income
- Operating Expenses – administrative, occupancy, advertising by type, selling, warehouse, delivery, finance
- Balance Sheet Strength – financial ratios, cash flow, deposits, receivables, payables, debt
- Inventory Management – gross margin by category, warranty performance
- Return on Investment – GMROI by category
- Personnel productivity by department
The survey should only take approximately 20 minutes to complete online. The results will be compiled over the next few months. The final report will be released to each participant approximately around the time of the 2015 NAHFA Conference in May 2015.
Please do not wait to take the survey. The success of this study is important for the Home Furnishings Industry. Your participation is necessary for the betterment of both your company and the industry at large. You cannot get this complete industry specific information that you need anywhere else.
PROFITsystems clients who take part in the 2015 NAHFA Retail Performance Report survey will receive the 2015 NAHFA Retail Performance report free (a $199 value).
For $99 you will also receive personalized benchmarking (a $299 value), your performance metrics with results compared against average and high profit results.
Want more? For $199 you will receive customized feedback with your personalized benchmarking data (a $399 value).
David McMahon and Wayne McMahon, PROFITsystems certified management accountants and furniture industry management consultants, will provide advice and opinions on how to take actions of improvement specific to your store.