Manager Training Manual

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Financials & Revenue/Sales


Accessing Financial Statements
Log on to the Remote Desktop.
~On the desktop, there should be a folder titled “Shortcut to Drilldowns”. Open this folder.
~Select your desired month and store.

Setting Targets
The Sales/ Revenue targets for each year are determined by assessing both the budget package, which contains suggested departmental spending budgets, and the results from the previous year’s financial reports. The targets are individually prepared for each store. These targets are reviewed by the CEO, CFO, and the COO and then negotiated with them to reach a suitable standard with which they are content.

The suggested budgets in the budget packages are based off of the company’s future sales and net operating income targets. In preparing the budget packages, the performance history of each store is reviewed. The focus in these reports is on the categories relating to sales, gross margin percentage, operating expenses, and net operating income. Based off these figures, management determines where to allocate spending and how to attain or exceed the standards established in the budget.

Budget Preparation

Accessing Budgets
Log on to MVL intranet site.
~Click on the Merchandising tab.
~Click on the Shared Documents link.
~Click on Store Budgets FYE 2009 folder.
~Click on desired store.

Performance To Date
Performance to date can be found in the monthly budget assessment reports, which consist of interval comparisons of actual budget and projected budget.

Accessing Performance To Date
Log on to the MVL intranet site.
~Click on the Operations tab.
~Click on the Store Reports link.
~Click on the Single Store Daily Sales Comparison (Net) link.

Opportunity Lines
Opportunities for improving sales can be found by comparing the departmental sales figures for the current year with the previous year and determining the reasons for the profits/ losses in each department. Management can use this information to determine what to do differently to achieve the sales improvements.

Accessing Reports for Opportunity Lines
Log on to the Eagle Hawaii Browser.
~Click on Business Advisor.
~Click on the Analysis icon.
~Click on Preferences and select Go to Advanced Mode F11.
~Click on File and select Open View.
~Select MF Sales YTD by Dept. vs. Prior Year.

ACE Rewards & Craft Club
The purpose of the ACE Rewards and Craft Club programs is to obtain customer information necessary to market toward specific areas and target particular customers. This information is attained by analyzing purchase information from ACE Rewards and Craft Club members and paying special attention to certain categories such as quantity of a certain item purchased, purchases from a particular zip code, etc. The reason for the recordkeeping of customer purchases and analysis of these records is that statistics show that loyal customers (ACE Rewards and Craft Club members) purchase more and more frequently than non-loyal customers. Thus by gaining more ACE Rewards and Craft Club members and building an extensive loyal customer base, the company will enhance their chances of generating more sales and more net income.

ACE Hardware and Ben Franklin Crafts are able to entice and persuade these customers into becoming members of their respective programs by providing incentives such as discounts, coupons, rebates, etc. Although this may seem like an additional expense to the company, the increased sales and profits outweigh the expenses.

Accessing ACE Rewards Data
Log on to the Eagle Browser.
~Click on Reports Menu.
~Click on Point-of-Sale Reports.
~Click on Loyalty by Clerk Report (RLC).
~Enter information in the Clerk Name and Date Range boxes.
~Print report.

Accessing Craft Club Data
Log on to MVL intranet site.
~Click on the Operations tab.
~Click on the Operations Documents link.
~Click on the Craft Club Loyalty Data excel sheet.

Sundry Income
ACE Hardware
The income that is obtained from special orders, labor projects, and deliveries is recorded as sundry income. This additional source of income is important as it can serve as leverage for expenses.
Ben Franklin Crafts
Each craft club membership costs ten dollars. From the ten dollars, the store receives four dollars in revenue. The total amount of revenue generated from the craft club memberships is recorded in the financial statements as sundry income. This source of revenue is significant for the company because it provides additional income to offset some of the expenses.
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