Managing the store at the trading statement levelby Udit Jain on June 13, 2007
Store management also requires effective reporting. Stores today are confronted with shrinking budgets and demands for higher productivity. Managers have little time to spare for reviewing reports and completing paperwork. As actionable reports have been introduced to the merchants and corporate staff, store line reporting must also evolve in the same way.
Each store should be looked at as a complete business, each with its own Profit and Loss (Trading) statement. However, not all items on a store P&L can be impacted by store management (for example depreciation). Hence, their reports should focus on variables they
can manage, such as labor, maintenance and of course sales. As in corporate reporting—these reports need to include this week, this week last year and plan, to have a true comparison. Many retailers will show how one store compares to the average store as yet another