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Managing the Finances of your Retail Store

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Title: Managing the Finances of Your Retail Store

Developed by: 6one5

Target Audience: This course is for retail professionals looking to improve their skills in retail management. It has been designed for individuals in head office, area managers, store managers, supervisors, department heads & sales people who want to advance their career.

Hours of Study: 2

Course Outline:

  • Managing the Finances of a Retail Business
  • Retail Profit and Loss Statement
  • Budgeting and Forecasting
  • Increasing Revenue - Store and Staff Measures
  • Margin Management
  • Managing Expenses
  • Implementing Retail Finance in your Business

Cost: $130/£85/€115

Alternative courses on the same subject: Mindedge has a Retail Math class which covers all the basic arithmetic formulae and calculations necessary when calculating key retail numbers. It is a good class to take if you do not have a good understanding of basic maths before you start to study the financial classes. Retailtraining.com’s Introduction to Retail Finance is a 20 minute program which introduces the three main financial statements and also introduces Open to Buy. It goes on to explain the importance of financial analysis. NRF’s Principles of Financial Reporting class is suited to store managers and potential store managers who need to understand and interpret financial reports, particularly related to periodic trading statements. Martec’s Retail Financials module is more geared to headquarters personnel who need to analyse a company’s financial statements to identify long term trends and performance improvement opportunities by analysing the profit and loss account, balance sheet and cashflow statement along with selected key performance indicators. Companies selling goods and services to retailers will also find this helpful.