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Measuring your store's performance
By Furniture Today Staff -- Furniture Today, December 24, 2006
| Performance Comparisons | |||
|---|---|---|---|
| Your store | Your store | ||
| All stores | 2006 | goal 2007 | |
|
Source: Furniture/Today market research and Karen Haver, CPA
|
|||
| Revenue sources | |||
| Merchandise sales | 96% | ||
| Finance/credit income | 1% | ||
| Income from services | 2% | ||
| Other income | 1% | ||
| Space allocation | |||
| Percentage of gross square feet | |||
| Selling | 73% | ||
| Administrative | 5% | ||
| Warehouse | 22% | ||
| Other | &1% | ||
| Expense allocation | |||
| excluding income taxes | |||
| Merchandise costs, including freight | 56% | ||
| Payroll costs including commissions and fringe benefits | 23% | ||
| Occupancy costs | 11% | ||
| Advertising | 7% | ||
| All other costs | 3% | ||
| Payroll costs by wages and benefits | |||
| Wages/salaries, including commissions and bonuses | 81% | ||
| Fringe benefits | 19% | ||
| Payroll costs by function | |||
| Percentage of payroll dollars spent on | |||
| Sales | 43% | ||
| Administrative, office | 32% | ||
| Warehouse, delivery | 20% | ||
| Repair/deluxing | 2% | ||
| Janitorial/maintenance | 1% | ||
| Other | 2% | ||
| Average pay rates | |||
| medians | |||
| Buyers, if separate position | $62,000 | ||
| Store managers | 53,000 | ||
| Sales managers | 52,000 | ||
| Sales staff, full-time | 38,500 | ||
| Advertising costs by media | |||
| Percentage of ad dollars spent on | |||
| Newspaper | 37% | ||
| TV | 24% | ||
| Radio | 12% | ||
| Direct mail | 11% | ||
| Other | 16% | ||
| Other includes local, state, regional and national magazines, in-store events, the Internet, the Yellow Pages, sponsorships and billboards. | |||
| Efficiency measures | |||
| medians | |||
| Hours open per week | 54 | ||
| Sales per sales employee | $543,211 | ||
| Sales per square foot of selling space | $148 | ||
| Gross margin percentage | 43% | ||
| Return on sales | 3% | ||
| Return on assets | 5% | ||
| Return on net worth | 5% | ||
| Stock turns | 3.0 | ||
| Close ratio | 36% | ||
| Merchandise Comparisons | |||
|---|---|---|---|
| Medians for | Your store | Your store | |
| all stores | 2006 | goal 2007 | |
| Bedding | |||
| Percentage of sales | 13% | ||
| Percentage of selling space | 6% | ||
| Number of SKUs | 19 | ||
| Number of lines | 2 | ||
| Master bedroom | |||
| Percentage of sales | 14% | ||
| Percentage of selling space | 15% | ||
| Number of SKUs | 19 | ||
| Number of lines | 5 | ||
| Youth bedroom | |||
| Percentage of sales | 1% | ||
| Percentage of selling space | 1% | ||
| Number of SKUs | 6 | ||
| Number of lines | 3 | ||
| Formal dining | |||
| Percentage of sales | 7% | ||
| Percentage of selling space | 6% | ||
| Number of SKUs | 10 | ||
| Number of lines | 4 | ||
| Casual dining | |||
| Percentage of sales | 5% | ||
| Percentage of selling space | 5% | ||
| Number of SKUs | 25 | ||
| Number of lines | 5 | ||
| Entertainment centers | |||
| Percentage of sales | 2% | ||
| Percentage of selling space | 2% | ||
| Number of SKUs | 14 | ||
| Number of lines | 4 | ||
| Occasional tables | |||
| Percentage of sales | 4% | ||
| Percentage of selling space | 5% | ||
| Number of SKUs | 49 | ||
| Number of lines | 5 | ||
| Desks | |||
| Percentage of sales | 1% | ||
| Percentage of selling space | 1% | ||
| Number of SKUs | 10 | ||
| Number of lines | 3 | ||
| Stationary upholstery | |||
| Percentage of sales | 20% | ||
| Percentage of selling space | 30% | ||
| Number of SKUs | 32 | ||
| Number of lines | 5 | ||
| Motion upholstery | |||
| Percentage of sales | 2% | ||
| Percentage of selling space | 5% | ||
| Number of SKUs | 8 | ||
| Number of lines | 2 | ||
| Motion chairs | |||
| Percentage of sales | 5% | ||
| Percentage of selling space | 8% | ||
| Number of SKUs | 36 | ||
| Number of lines | 3 | ||
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