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Talking Shrink: Using Business Know-How to Gain LP Traction

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Talking Shrink: Using Business Know-How to Gain LP Traction

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Talking Shrink: Using Business Know-How to Gain LP Traction

  1. 1. 6/28/2017 1 Talking Shrink: Using Business Know-How to Gain LP Traction Ben Borer LPC, Director of Omni Digital Loss Prevention, American Eagle Outfitters Inc. and John Matas, Vice President of Asset Protection-Investigations/ORC, Macy's, Inc. Talking Shrink Using Business Know-How to Gain LP Traction John Matas Macy’s Inc. Ben Borer American Eagle
  2. 2. 6/28/2017 2 Agenda 1. Know Your Audience 2. Translation of Priorities 3. Key Tools to Drive 4. Team Approach Merchant Partnership Know Your Audience • You are a: – Merchant that specializes in LP – Business Partner that specializes in LP • People Like People Like Themselves – Basic Laws of Attraction Merchant Partnership
  3. 3. 6/28/2017 3 Merchant Partnership • Operational – Quality of Hire – Hours Utilization/Staffing – Standards • Profit Impact (Translation Loss=Missed Sales) – Key Item Theft – Returns – Fraud Merchant Partnership LP Issue Profit/Loss Priority Merchant Translation Combined Company Goal 1 Internal Theft Quality of Hire Bad Selling Talent - Missed Sales Increased Sales/More Profit 2 Supervision Hours Utilization/Staffing Missed Sales Increased Sales/More Profit 3 Standards Poor Operating Standards Boring - Missed Sales Increased Sales/More Profit 4 Key Item Theft Customer Service Missed Sales Increased Sales/More Profit 5 Returns POS Standards Lost Sales Increased Sales/More Profit 6 Fraud POS Standards Lost Sales Increased Sales/More Profit Merchant Partnership
  4. 4. 6/28/2017 4 Laying The Groundwork • Customer First • Sales and KPI Driven • Business Acumen • Shrink Challenges • Solution • Store Leadership Rollout • Version 3.0 Stores – Flex Fulfillment – Loyalty/Rewards • Version 4.0 Corporate – Margin Impact Categories Future State
  5. 5. 6/28/2017 5 Implementation Recap on 3 Session Takeaways HERE 1. Embrace Corporate Culture 2. Link Between Shrink & Sales 3. Start With The Basics
  6. 6. 6/28/2017 6 THANK YOU John Matas John.Matas@Macys.com Ben Borer BorerB@AE.com

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