About the Author
Steve Pruitt

Steve Pruitt

Steve Pruitt is founder and Senior Consultant of Blacks Retail Analysis and Blacks Consulting. With over 30 years of experience, Steve is one of the most respected merchandise analysts in the industry. His specialty is apparel merchandising and he has worked with clients in every sector of this category. Steve’s approach is highly customized; he tailors his analyses to the particular needs and market of each client. His work ties together the merchandising piece of the business with the client’s overall financial goals to increase sales and streamline operations. Steve is also a trusted general business consultant, known for his ability to help retailers plan growth and manage change.Ask Steve about merchandise planning and strategy 561-727-8567 Steve@Blksretail.com www.blacksretail.com Note: MRketplace collects promotional fees from site experts.

Cutting Costs

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Q: I own a small store in Westport, Conn. and we have seen a huge drop in business since the financial fallout on Wall Street. In fact, Main Street looks like a ghost town. What should I do to cut costs keep my store in business? In these trying times, …

Markdowns

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Q: I’ve started landing goods earlier in the season. Should I adjust when and how I take markdowns? A: The quick answer is yes—you should take markdowns earlier. If you are landing goods early, the merchandise is aging earlier in season and needs to be cleared out. But make sure …

Fall Deliveries

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Q: Business has been slow for us this summer. Should I delay delivery of my fall merchandise or cancel orders until business picks up? A: Absolutely no – you should not delay or cancel deliveries. You need to land new merchandise so that your core customers have a reason to …

Overseas Vendor Price Increases

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Q: Prices on goods made in Europe and Asian have skyrocketed. How should retailers deal with vendor price increases? A: Like with anything in life, you have a choice – you can either look at price hikes as an opportunity or as a problem. If you look it as a …