The MAY Department Stores Company Explore a Career

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

PRICE § § § 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) § § § § 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 § § § 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 § Work Directly with a Buyer § Prepare Sales and Profitability Analysis § Learn Product, Financial and Inventory Management § Input Pricing, Sales and Markdowns § Execute Advertising Strategy Build Store and Vendor Relationships Learn Skills Vital to Success as a Buyer § §

Area Sales Manager § Work Directly with a Divisional Manager § Manage Customer Service, Monitor Associate Performance & Sales Productivity § Execute Merchandise Standards (signing, sales events, merchandise flow, key item statements) § § § Screen, Interview and Hire Associates Maintain Shortage Standards Avg. Annual Volume: $2. 5 Million

Buyer § Forecast Trends, Analyze Buying Patterns, Produce Sales § Monitor and Maintain Inventory Levels & Pricing Plan, Plan Seasonal Promotions, Negotiate Prices & Allowances from Vendors § Develop Assistant Buyers, Executive Trainees & Interns into Successful Merchants § Avg. Annual Sale Volume: $15 Million

Divisional Merchandise Manager § § Supervise & Develop a Group of Buyers Allocate Financial Resources Develop Advertising & Pricing Strategies Get Sales to the Bottom Line General Merchandise Manager § Supervise & Develop a Group of DMM’s § Conduct Market Analysis & Drive Market Penetration § Develop & Implement Strategies § Profit & Loss Responsibility

Why A Career in Retail? § § § § 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. . . § Operate 439 quality department stores in 44 states, the District of Columbia and Puerto Rico § The Bridal Group operates 150 David’s Bridal stores, 240 After Hours stores and 10 Priscilla of Boston stores § Revenue over $14 Billion § A Fortune 200 Company

Retail Success Characteristics. . . § Gets Results § Sets Challenging Goals § Energizes Others § Wants to Learn § Asks Probing Questions § Does Good Analysis & is Well Organized

The MAY Department Stores THANK YOU www. maycompany. com