The owners of Black Diamond Bike and Backcountry were not happy about the necessity to close their store and the decision to do so was very emotional.
In January of 2010 GA Wright was retained to help plan a Store Closing Sale to be conducted in the spring of 2010.
The Store Closing Sale
The sale got off to a great start obtaining a big volume of sales at top margins up from to compensate for markdowns necessary to sell all of the inventory on the tail end. The Owners Jamie and Peter Fisher said, “The opening day of our sale was our biggest sales day in the eight years we have been open. The first week of the sale we were able to turn 30% -40% of our inventory while still making good margin. We were able to sell the vast majority of our product above cost, and are happy with the overall return generated by the sale.”
“The process the GA Wright consultant executed on our behalf removed a lot of the stress from the situation, and we were able to start focusing on our next step. We are confident that we got the highest return for our inventory in the fastest timeframe.
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