Hardware Store Case Study

Case Study

This store had been in business since 1913

Less than a year later, the other partner and former Wingate client, decided to retire and they again employed Wingate to assist them with their store closing sale.  This store had been in business since 1913.  The inventory was $200,000 at cost and they purchased another $20,000 in wanted merchandise making the starting inventory $220,000.  On opening day of our Pre-Showing sales ran $38,882.  Reported gross sales ran a few dollars short of $240,000 for a return of 110% plus the sales of fixtures and equipment.  We were able to hold media advertising expenses to $5,400 due to our customer incentive program which had 1048 customers participating.  It helped sustain customer traffic and stimulated a lot of sales.