| accrued liabilities | Liabilities that accumulate daily but are paid only at the end of a period. |
| activity-based costing (ABC) | A financial management tool in which all major activities within a cost center are identified, calculated, and then charged to cost objects, such as stores, product categories, product lines, specific products, customers, and suppliers. |
| bottom-up planning | When goals are set at the bottom of the organization and filter up through the operating levels. |
| customer returns | The value of merchandise that customers return because it is damaged, doesn’t fit, and so forth. |
| input measure | A performance measure used to assess the amount f resources or money used by the retailer to achieve outputs. |
| productivity measure | The ratio of an output to an input determining how effectively a firm uses a resource. |
| retained earnings | The portion of owners’ equity that has accumulated over time through profits but has not been paid out in dividends to owners. |
| top-down planning | One side of the process of developing an overall retail strategy where goals are set at the top of the organization and filter down through the operating levels. |
| central business district (CBD) | the traditional downtown business area of a city or town. |
| destination store | a retail store in which the merchandise, selection, presentation, pricing, or other unique feature acts as a magnet for customers. |
| fashion/specialty center | A shopping center that is composed mainly of upscale apparel shops, boutiques, and gift shops carrying selected fashions or unique merchandise of high quality and price. |
| freestanding site | Fixtures and mannequins located on aisles that are designed primarily to get customers’ attention and bring them into a department. |
| gentrification | a process in which old buildings are torn down or are restored to create new offices, housing developments, and retailers. |
| inner city | Typically a high-density urban area consisting of apartment buildings populated primarily by ethnic groups: African Americans, Hispanics, and Asians. |
| kiosk | A small selling space offering a limited merchandise assortment. |
| lifestyle center | A shopping center with an outdoor traditional streetscape layout with sit-down restaurants and a conglomeration of specialty retailers. |
| Main Street | the central business district located in the traditional shopping area of smaller towns, or a secondary business district in a suburb or within a larger city. |
| mall | a shopping center with a pedestrian focus where customers park in outlying areas and walk to the stores. |
| mixed-use development (MXD) | development that combines several uses in one complex-for example, shopping center, office tower, hotel, residential complex, civic center, and convention center. |
| outlet centers | Typically features stores owned by retail chains or manufacturers that sell excess and out-of-season merchandise at reduced prices. |
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