Parker Revenue Growth Strategies Delivers Strong Results for a 60-Year-Old Family Apparel Retailer

Parker Revenue Growth Strategies Delivers Strong Results for a 60-Year-Old Family Apparel Retailer

August 6, 2020

For Immediate Release
Contact: William H. Parker, CTP
Parker Revenue Growth Strategies
Email: William@parkerrevenuegrowth.com
Cell: 858-232-7273

Cleveland, Ohio

Parker Revenue Growth Strategies Delivers Strong Results for a 60-Year-Old Family Apparel Retailer

Parker Revenue Growth Strategies was engaged by a Southeastern California Family Apparel Retailer to develop revenue growth plans and turnaround strategies in July of 2019. After a year of dramatic transformation and improved financial results {sans COVID-19}, PRGS is pleased to announce that its engagement with the company has been extended based on strong performance results.

The company has achieved a number of milestones designed to support the ‘Organizational Fitness’ {strategy, structure, systems, skills, staff, style and shared values} model that will enable it to execute and achieve its original strategic operating plan.

Results to Date Include:

  • PRGS integrated the merchandise plan with the financial statements that includes the income statement, balance sheet and annual cash flow statement. Cash flow has improved 4 times 2019’s actual performance based on sound inventory practices, the reduction of expenses and gross margin management coupled with sound open to buy purchasing practices.
  • Strategies were developed to deleverage the balance sheet by the end of 2020 by 60% through accelerated payment plans negotiated with the SBA and the local bank affiliate.
  • PRGS, the CEO, Owner and Key Management Team, built a financial and operating plan that will enable the company to reduce its operating loss to break even status by 2022 {strategy, structure, systems, skills, staff, style and shared values}.
  • Comparable store sales increased from -13% in mid-2019 to a positive 19% pre COVID-19 pandemic March 2020 business closing by instituting strong category management and key item plans.
  • Improved merchandise assortments with a focus on narrow and deep product assortments, narrowed vendor structure and pricing strategies. Initiated strong sales promotion, marketing and advertising plans to improve traffic, conversion, units per transaction and average transaction that led to double digit store increases.

The owner stated, “Parker Revenue Growth Strategies has been an invaluable resource for our business and has empowered the management team to execute the strategies and action steps needed to support the vision, mission and purpose of the company”.

About Parker Revenue Growth Strategies

Parker Revenue Growth is a revenue growth and turnaround strategies firm that utilizes the ‘Organizational Fitness Program’ to improve operating systems and results for mid-size companies, non-profits and private equity portfolio businesses.

The company provides business assessments to prepare privately owned companies for an exit strategy and a maximum return on investment. Parker Revenue Growth Strategies, http://parkerrevenuegrowth.com/ is an outcome driven company that develops business, financial, operating plans and organizational fitness strategies to maximize value, increase comparable sales and most importantly improve financial results.

###

Leave a Reply

Your email address will not be published.