Bombay Announces Next Phase of Merchandise Strategy Study
Furniture World News
The Bombay Company, Inc. announced that it has commenced the second phase of its merchandise strategy development initiative designed to drive top line sales, increase gross margin and improve bottom line results. In February 2005, the Company engaged Accenture, a global management consulting, technology services and outsourcing company, to assist Bombay in developing the Company's overall positioning within the dynamic, competitive environment of the United States and Canada.
Phase One of the study included a strategic analysis of Bombay's core business and the development of a strategy designed to drive higher profitability through optimization of revenue, product margins and category positioning within the core stores. With the completion of the strategic analysis, the Company is working with Accenture to develop a tactical plan for the implementation of the project recommendations.
Phase Two extends the scope to include a similar analysis of the BombayKIDS operations focused not only on analyzing existing merchandise categories, the strategic roles they play and their targeted financial performance, but also to evaluate opportunities for introduction of new categories.
James D. Carreker, Chairman and Chief Executive Officer, noted, "Bombay has spent much of its first quarter investing in strategic planning and consumer research for both our store and internet channels at unprecedented levels. We feel these efforts are critical in order to positively impact our merchandise planning and presentation for this Fall as well as shape our longer term profit and gross margin strategies. We're obviously pleased with the results to date and we have begun a similar study of our BombayKIDS business."
The Bombay Company, Inc. designs, sources and markets a unique line of home accessories, wall decor and furniture through 497 retail outlets, specialty catalogs and the internet in the U.S. and internationally.
Furniture World Magazine-Business solutions for furniture retailers