Mathematics for Retail Buying

- with STUDIO

Marla Greene (Author) , Bette K. Tepper (Author)

Online Access / Resources

Textbook

Mathematics for Retail Buying

- with STUDIO

Marla Greene (Author) , Bette K. Tepper (Author)

Online Access / Resources

Textbook

Ebook (PDF) $184.65 Ebook (Epub & Mobi) $184.65 Paperback - Pack $190.00

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Mathematics for Retail Buying, 9th Edition, introduces merchandising and retailing students to the most important concepts in retail math through step-by-step examples with practice problems and solutions.

Coverage begins with the skeletal profit and loss statement, and moves through retail pricing and repricing of merchandise, markups, markdowns, the retail method of inventory, six-month, and assortment planning. This extensively updated edition introduces a practical approach that incorporates actual retail scenarios and concepts that are relevant to the fashion industry today. There is also a focus on mathematical factor that affects the gross margin and profitability key to the success of any merchandise buyer or planner.

New to This Edition:
- Updated mathematical practice problems with selected answers in the back of the book for review
- Updated case studies to reflect retail buying as can be found in the industry
- Thoroughly updated and revised text to reflect most common practices in the field

Features
- All applicable concept problems are expressed in spreadsheet as well as traditional arithmetic format
- Select Answers at the end of the book helps students check their understanding as they complete Practice ?Problems
- Key Concept Formulas at the beginning of each chapter and a complete Glossary of Concept Formulas at the end of the book provide easy reference

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Preface
Introduction
Quick Tips for Setting Up Your Computer Spreadsheet
Chapter 1: Merchandising for a Profit
1.1. Profit Components
1.2. Profit and Loss Statements
1.3. How to Increase Profits
Chapter 2: Retail Pricing and Repricing of Merchandise
2.1. Retail Pricing and Pricing Strategies
2.2. Basic Markup Equations Used in Buying Decisions
2.3. Repricing of Merchandise/Markdowns
2.4. Point-Of-Sale (POS) and Permanent (Physical) Markdowns
2.5. Analytical Criteria for Taking Markdowns

Chapter 3: Basic Markup Equations Used in Merchandising Decisions
3.1. Types of Markups
3.2. Averaging or Balancing Markup
3.3. Limitations of the Markup Percentage as a Guide to Profits

Chapter 4: The Retail Method of Inventory
4.1. Explanation of the Retail Method of Inventory
4.2. General Procedures for Implementing the Retail Method of Inventory
4.3. Shortages and Overages
4.4. An Evaluation of the Retail Method of Inventory

Chapter 5: Six-Month Planning and Components
5.1. Planning Net Sales
5.2. Turnover/GMROI
5.3. Stock/Inventory Planning Methods
5.4. Open-to-Buy and Purchase/Receipt Planning
5.5. Open-to-Buy Control
5.6. Six-Month Seasonal Dollar Merchandise Plan
5.7. Assortment/Classification Planning

Chapter 6: Invoice Mathematics/Terms of Sale
6.1. Invoice Mathematics: Terms of Sales

Glossary of Concept Formulas
Glossary of Terms
Selected Answers
Index

Product details

Published	05 Mar 2020
Format	Ebook (Epub & Mobi)
Edition	9th
Pages	416
ISBN	9781501356612
Imprint	Fairchild Books
Publisher	Bloomsbury Publishing

Author

Marla Greene

Marla Greene is an Associate Professor of Fashion…

Author

Bette K. Tepper

Bette Tepper is a founding faculty member of the F…

I have been using Bette's mathematics for retail buying (since its 6th edition) for many years. The 8th edition is by far the best one. The content of this book is very comprehensive and covers almost all retail math a retail buyer typically needs to know. The content is very straightforward and the students like the retail math problems.

Sheng Lu, Assistant Professor, Fashion and Apparel Studies, University of Delaware, Proposal Review
Well organized. I love the key concept formula list and the case studies. Answers at the back are super helpful.

Jaye Thompson, Adjunct Professor, Retail Merchandising, University of Minnesota, Proposal Review
Overall, this is a very good and useful book I can easily use full of exercises and case studies. I like the list of key terms and key concept formulas at the start of each chapter. Also the Concept/Problem/Solution framework applied to all the numerical examples is a clear example of good practice and should be kept in the future.

Miguel Martins, Principal Lecturer, School of Fashion, University for the Creative Arts, Proposal Review
The structure of this book works very well with the way I teach. The majority of our students are interested in becoming designers and entrepreneurs rather than retail buyers and I feel that this text does an exceptional job in conveying the importance of the bottomline. Of all the textbooks that I have used or reviewed on this subject “Mathematics For Retail Buying” is by far the best and most comprehensive book that I have used to date.

Dhona Spaconsky, College Professor, Lecturer, and Instructor, Fashion Design and Merchandising, Academy of Couture Art, Proposal Review