January 2009Preserving Your Cash Retailers are likely the most optimistic group of business people I know. They always seem to be able to find a way to deal with adversity. In good times, the media dictates little time or space to retail; however, when the chips are down, the front page is never big enough. Retailers are receiving lots of attention these days which means, in far too many cases, cash is becoming a larger problem. There are no magic formulas that can improve your cash flow; however, here is one way that could: A procedure that is often forgotten or put off is the actual follow-up with old merchandise. If you do not deal with old stock on a regular basis, you are hurting your cash flow. Old merchandise must be dealt with and the longer you wait, the more this old stock depreciates. Getting rid of old stock helps you pay for more stock which should in fact improve your profit margins and; therefore, your bottom line. |
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