Articles

Optimal inventory turnover rates have been affected by the greater prevalence of in-stock programs.
Published in MR

"Most menswear retailers were bred to believe they need a big inventory to avoid missing a sale. In fact, this belief in huge inventories is a result of conditioning and it provided a false sense of security. Sadly, that fact has driven many men's stores out of business."

Read More

In the fourth installment of Danny Paul's series on specialty store strategy, he looks at the evolution of maintained markup in the new economy.
Published in MR

"Until the middle of 2008, beautiful merchandise drove sales and price didn't seem to matter. But the world of luxury menswear has changed in a very big way in the last 40 months."

Read More

How to make money in the new economy
In the first of a monthly series, consultant Danny Paul goes back to basics with a business plan for independent specialty stores.

Published in MR

"Retailers have spent the last 30 months cutting and trimming; now it's finally time to stage your business for growth! But to assume business will look as it did before the recession is a faulty way to plan the future. Many of the customers that retailers had in 2007 are out of the market for good. E-mail and social media are the norm now while direct mail and print media are less important. Clothing and furnishings sales have dropped while sportswear has grown. All of these changes must be accounted for in a strategic business plan."

Read More

When it comes to making money in a down economy, everyone's an expert. (But is anyone making money?)
Published in MR

"We've heard it all before: lower sales need not preclude higher profits if we simply cut expenses and better manage our businesses. Cut to the bone, the experts tell us. Don't carry excess inventory, negotiate everything, work with fewer vendor partners who give better terms, cut back on advertising, T&E, payroll, turn off the AC… Obviously, this is making most of us crazy, especially with too few customers walking through the door to cheer us up. Here, some good advice from several experts to help get us through the next season or two. (And while we're waiting for a turnaround that might or might not happen, why not start working on a drastically new business model for the years ahead?)"

Read More

pdfSuggestions on how to weather the storm.
Published in MR

"When Business gets tough, we can either get blue or get busy - and getting busy pays dividends. If you look carefully, you'll see al kinds of profit potential and business opportunities. When things are good, people often get a bit lazy, but when sales soften, we must focus to see what can be done. Sure, business has been tough the last several months, and sadly it may worsen before it gets better. You can't change the economy, but you can improve your business."

Read More

pdfVeteran specialty store consultant Danny Paul discusses what's working, what's now and what's next.
Published in MR Specialty Store Survival Guide

"Danny Paul has more than three decades of retails sales and management experience, including owner of three
apparel stores in southern California and president/CEO of RMSA (Retail Merchandising Service Automation) for 12 years. He's now chairman of Retail Communities where he brings together quality menswear merchants to share insights and experiences; he also does private consulting. Here, we pick his brains on how independent menswear stores can compete and prosper."

Read More

pdfConcepts based on Men's Apparel Forums where members swap inside information
Published in DNR, January 24, 2001

"In these competitive times, independent retailers need all the help they can get. And many of them are reaching out to Danny Paul. The president of RMSA, the world's largest merchandising company, for 12 years, Paul has been responsible for all strategic and operational aspects of the company's business. But he switched gears a couple of years ago, and is now serving as the facilitator of a series of "retail communities," which bring together like-minded but non-competing stores for a common purpose - running their businesses more effectively and fattening the bottom line."

Read More

Consulting

  • Independent specialty retailers have few places to turn to for help for well centered, experienced advise and guidance. The last four years…

    Read more...

Testimonials

  • Mr. Paul has some of the best insight and wisdom for specialty store owners. His thoughts provide tremendous amount of help to…

Read more...

OTB Planning

  • Our planning service provides correct planning and OTB numbers for retailers across America and Canada. Far too many retailers just look at…

    Read more...