BELK Loss Prevention Jessica Green Jonathan Turner August
BELK: Loss Prevention Jessica Green Jonathan Turner August 21, 2012 ECPI University
Founded in 1888 Under Third generation of leadership Located in 16 Southern States Has more than 20, 000 employees Belk History
What is needed to be changed? Is it managerial changes or more LP changes? Who is this affecting? How will we innovate this change? THESE ARE QUESTIONS THAT WE FIRST ASKED OURSELVES. The Change… Loss Prevention
{ Strengths An established credit base Community awareness Wide ranges of storefronts High quality of customer service SWOT { Weaknesses quality management Problematic scheduling Poor communication Lack of employee involvement
{ Opportunities Improved customer service Product knowledge More personalize experience. SWOT Cont. { Threats Retails stores Theft Economy fluctuations Unsatisfied customers Weather conditions
Headquarters Charlotte, North Carolina Sector Department Stores Primary NAICS Code 45211 – Department Stores Primary SIC Code 5311 – Department Stores Fiscal Year 2013 Ends on Feb 2, 2013 2012 Net Sales $ 3. 70 Billion 2012 Net Income $ 183. 1 Million Store Count* 303 Total Selling Sq Ft* 22, 800, 000 Employees** 23, 000 *as of 4/28/12 **as of 1/28/12 Net Sales (1, 000′s) Same-Store Sales Chg Operating Income (1, 000′s) Net Income (1, 000′s) Diluted EPS Store Count Selling Sq Ft (1, 000 s) Employees 2012 2011 $ 3, 699, 592 $ 3, 513, 275 5. 5% 5. 1% $ 300, 910 $ 245, 981 $ 183, 148 $ 127, 628 $ 4. 02 303 $ 2. 71 305 22, 800 23, 000 24, 000 Advertising $ 152, 000 Spend (1, 000 s) Belk Inc. Profile $ 143, 200
Company Wide: 80, 943, 873* yearly loss within 303 stores. (millions) Belk Haywood Mall: 288, 879* Similar size stores: 245, 541* Smaller stores: 43, 332* Loss Prevention: Current State *Approximate Loss
{ What should be changed? Structure in… Departments Scheduling Buzzer exiting or entering building { Why this change? Prevent Loss Accuracy Increase in sales Better for the company Change Strategy
6 month Time Frame February Fiscal year 2013: Beginning Inventory. April March Time Schedule June May July Mid Year Inventory
http: //www. youtube. com/watch? feature=playe r_embedded&v=_Trhph. CRib. M#t=39 s Prevent: Theft Videos
Improve by 50% by next years inventory. EXPANSION! YAY IMPROVEMENT!
- Slides: 11