The Way We Measure Retail Store Performance Needs To Change

by MR Magazine Staff

If you’re a retailer with multiple stores, measuring the performance of stores is critical to your business. Historically, there have been two metrics fundamental to evaluating retail store performance. The first is sales per square foot. That tells you how a store is performing regardless of its physical size and it’s a great measuring tool for comparing different stores. The second is a store income statement. That evaluates each store as though it’s an individual business with its own profitability. These two measures are longstanding and have been vitally important to assessing how stores perform. Retail has changed a lot lately. Read more at Forbes.