FASH 445 Lecture Notes - Lecture 23: Gross Margin
11 Mar 2019
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Textbook chapter: step 5: profit and loss plan. Author: rosalie j. regni and jimmie g. anderson. What are 5 interesting facts or take-aways that you gleaned from this article: reciprocal or a cost complement is used to determine the cost that you can afford to pay for an item. Difference between 100% and the markup goal percent: most small clothing boutiques operate on an imu of 55-65% depending on item, category, competition, and importance to customer. The reason for this cautionary statement is that you must pay your fixed expenses from your gross margin dollars: year 2 and year 3 growth should be conservative.
