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The objective of this white paper is to review various aspects of retail financial management and to draw important lessons for small and mid-size retailers. The paper addresses a wide range of topics that impact a retailer’s financial success. Many of these are common to retailers of all sizes, but some are specific to mid to small tier businesses and many cautionary notes are given. The topics covered include: - Key financial metrics and their importance.
- Budgeting and financial planning.
- Relationship of financial plans to merchandise and Open-To-Buy plans.
- Purchasing management.
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