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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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