CASE STUDY: TURNAROUND STRATEGY
SECTOR:
Discount Retail Apparel company seeking help to achieve their first-ever profitable quarter.
THE PROBLEM:
LACK OF PROFIT
Retail apparel company experienced nine unprofitable months in its first year with a lack of understanding of how to fix. The overwhelming business challenges began affecting quality of life for the business owners.
SOLUTIONS:
ECONOMIC FOCUS
Metrics and Operations
Examined sales data and operational metrics engaging employees to identify operational challenges and efficiency solutions.
Strategy Realignment
Reinvigorated business strategy around existing mission and organized and prioritized work streams.
Vendor and Customer Engagement
Conducted surveys and focus groups with vendors and customers. Adjusted operations based on feedback.
Economic Model
New terms and conditions to reduce costs by 15% and increase cash f
AT A GLANCE
Challenges
- Nine unprofitable months
- Business owner unhappy with quality of life
- Uncertain of how to address business challenges
Impact
- Reduced costs by 15%
- 1st profitable quarter
- Achieved better operational efficiency
- Prioritized Business Strategy & Mission
IMPACT:
1ST PROFITABLE QUARTER
Engaged Employees
Hourly employees became involved in decision making and solutions.
Knowledge Increase
Data analysis, market research, and expert input have all contributed to greater operational knowledge for the business.
Partnered for Success
Restructured vendor partnerships are key to overall success.
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