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 2. Negotiate delivery COSTS 3. Effect of ADVERTISING on delivery 4. Using DOOR TRENDS and inventory status 5. Understanding customer/door GEOGRAPHICS 6. TRACKING all purchase orders 7. Researching current U. S. CUSTOMS and INTERNATIONAL shipping conditions 1.

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 6 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