Ignore the Economy

The March issue of BusinessSolutions published a great article, "Ignore the Economy." Rather than paraphrasing what I want to point out, here is a clip from it (author, Mike Monocello):

I’m not denying that the economy isn’t struggling. It’s now a sad reality. However, I don’t think things are as bad as most people think. I’m not alone. For instance, at the NRF (National Retail Federation) BIG Show 2009 in New York City, I had the opportunity to speak with more than 20 lead executives from a variety of manufacturers in retail. Nearly all of them told me they haven’t seen the type of recessionary slowdown the media and analysts have been stressing over. However, many of these executives also admitted their companies are being very cautious. Chances are, you’re in the same situation of cautiously waiting things out. My question is, how long will you wait and keep your business in a stalled state? Or better yet, why wait?

He goes on to say that there is mounds of actionable information available to retailers to improve their retail business.

One Step can advise you on a course of action if you need some help. We also provide free business analytics.

Story source: http://tinyurl.com/d4kanw

American Apparel's Profits Rise

Our client American Apparel Q4 profit rises 30%

Clothing maker American Apparel Inc's fourth-quarter profit jumped 30 percent, helped by growth in retail sales at its U.S. Retail, Canada and international business segments, but forecast 2009 sales below analysts' estimates.

The company, which plans to open 25 to 30 stores in 2009, said it expects net sales of $575 million to $600 million in 2009 and income from operations in the range of $55 million to $65 million.

The company -- known for its brightly colored basics, pro-labor policies and racy marketing -- posted a fourth-quarter profit of $3.9 million, or 5 cents a share, compared with $3.0 million, or 6 cents a share, a year earlier.

www.onestepretail.com

Clovers Natural Market Replaces POS System

One Step Retail Solutions and Clovers Natural Market of Columbia, Missouri are happy to announce the implementation of CounterPoint SQL by Radiant Systems point of sale (POS) software in these popular mid-west markets. Clovers will be replacing all of their POS systems with Radiant Systems hardware and CounterPoint SQL software, supplied by One Step.

Scott Kreisberg, CEO of One Step stated, 'We are pleased to be a part of this long-established, thriving natural products market and their continued expansion. We are always happy to support retailers like Clovers, who have the long term in mind, not only for themselves, but for the betterment of their customers and their community.'

After going through a complete Needs Analysis with One Step Retail Solutions and a thorough demonstration of the software, it became clear that CounterPoint SQL had the features that Clovers was looking for, including integration of a scale at checkout. Clovers also found that One Step could give them a level of support that they had been lacking with their previous system and that the 23-year history and experience of One Step would assure them of a stable business partner for years to come.

With two stores in Columbia, Clovers has been a part of their community since 1965 and specializes in organic produce, gourmet and specialty products, gluten free, sugar free, low sodium, frozen and refrigerated products, coffees, teas, books, incense, candles, with an extensive supplement selection including vitamins, minerals, herbs, and homeopathics.

Retail Boom Forecast

Phoenix historical economist forecasts surprise retail boom in 2009
A combination of legislative mandates, the Stimulus Plan, reduced competition and new consumer savings and income could result in surprisingly robust retail sales by the Fourth Quarter of 2009.

H.L. Quist says, "I'm not an expert on retail but I do have an excellent track record of analyzing economic and political trends and forecasting future events. An unusual confluence of factors are coming together which could bring a pleasant surprise to the devastated retail industry."

H. L. Quist is the author of "The Aftermath of Greed: Get Ready For The Coming Inflationary Boom."

Read full press release:

http://www.prweb.com/releases/2009/03/prweb2220824.htm

This news was also posted on the company’s new Twitter account: http://twitter.com/onestepretail

Retail Store Making Right Decisions

In a recent case study by One Step Retail Solutions on Pump Station in Santa Monica, CA, the store increased its sales 20% in the last three years. A second store opened up 3 years ago in Hollywood, CA, watching sales go up 83%. Two more stores are being planned to open up this year, 2009.

Pump Station COO Cheryl Petran attributes their growth and continued success to point of sale technology which allowed them to forecast sales and manage inventory better.

With better financial planning and profit goals, Pump Station owners have been able to gain insight into what is going on in their business and use the reports to make the right decisions.

Ms. Petran feels they are out-pacing the economic downturn by forecasting smart and managing the inventory to her forecast. “Being proactive means forecasting, facing the reality of it and dealing with it,” said Cheryl Petran, COO of Pump Station.

“If you can really look at where you think you’re going to be and be realistic about it, then you can survive. I have a POS system with history that I can use for expansion. With our POS system we can quickly evaluate if our decisions were good or bad. I learned many years ago to manage your inventory smart and manage your vendors smart.”

Pump Station is continuing to expand their retail business, despite the changing economy.

Note: One Step Retail Solutions installed Retail Pro point of sale software, robust POS hardware, and hand-held scanners. The system is integrated with POS QuickBooks.

Technology Pavilion at MAGIC

One Step Retail Solutions was in the Technology Pavilion at MAGIC in February. The pavilion offered free cappachino and a Wifi center. See photo montage:

Here are some photos:

The Specialty Retailer Advantage

With the recent government numbers showing specialty retailers down 19 percent, the focus for these retailers has shifted to being more promotional, buying smarter and not piling up on inventory. They are also making deals with vendors to get flexible deals. And they are moving toward improving their retail management technology in an effort to re-organize and become more efficient.

In all the changes an independent retailer faces, bringing customers to their store is the primary goal. Obtaining loyal customers is bringing them back. When people walk into a store, they want to know the people at the store. It's about relationships and that is what separates the independent specialty retailer from the big-box retailers.

In a recent Webinar with Kevin McAdam of One Step Retail Solutions, he talked about what a retailer should know about in surviving the current economy. He discusses retail Key Performance Indicators and how to read and interpret them, the various ways to use technology to increase profits, decisions a retailer has to make about their inventory, and how to overcome obsctacles during a recession.

Watch Webinar "The Truth All Retailers Should Know About Surviving in the Economy in 2009".