belk: loss prevention jessica green jonathan turner august 21, 2012 ecpi university
DESCRIPTION
Founded in 1888 Under Third generation of leadership Located in 16 Southern States Has more than 20,000 employees Belk HistoryTRANSCRIPT
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BELK:Loss Prevention
Jessica Green Jonathan TurnerAugust 21, 2012ECPI University
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Founded in 1888 Under Third generation of leadership Located in 16 Southern States Has more than 20,000 employees
Belk History
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What is needed to be changed? Is it managerial changes or more LP
changes? Who is this affecting? How will we innovate this change?
THESE ARE QUESTIONS THAT WE FIRST ASKED OURSELVES.
The Change… Loss Prevention
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{ {Strengths
An established credit base
Community awareness
Wide ranges of storefronts
High quality of customer service
Weaknesses
quality management Problematic
scheduling Poor communication Lack of employee
involvement
SWOT
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{ {Opportunities
Improved customer service
Product knowledge
More personalize experience.
Threats
Retails stores Theft Economy
fluctuations Unsatisfied
customers Weather conditions
SWOT Cont.
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Headquarters Charlotte, North Carolina
Sector Department Stores
Primary NAICS Code 45211 – Department Stores
Primary SIC Code 5311 – Department Stores
Fiscal Year 2013 Ends on Feb 2, 2013
2012 Net Sales $ 3.70 Billion2012 Net Income $ 183.1 MillionStore Count* 303Total Selling Sq Ft* 22,800,000Employees** 23,000
*as of 4/28/12 **as of 1/28/12
Belk Inc. Profile
2012 2011Net Sales (1,000′s) $ 3,699,592 $ 3,513,275
Same-Store Sales Chg 5.5% 5.1%
Operating Income (1,000′s)
$ 300,910 $ 245,981
Net Income (1,000′s) $ 183,148 $ 127,628
Diluted EPS $ 4.02 $ 2.71Store Count 303 305Selling Sq Ft (1,000s) 22,800 22,800
Employees 23,000 24,000Advertising Spend (1,000s)
$ 152,000 $ 143,200
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Company Wide: 80,943,873* yearly loss within 303 stores. (millions)
Belk Haywood Mall: 288,879* Similar size stores: 245,541* Smaller stores: 43,332*
Loss Prevention: Current State
*Approximate Loss
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{ {What should be changed? Structure in…
Departments Scheduling Buzzer exiting or
entering building
Why this change?
Prevent Loss Accuracy Increase in sales Better for the
company
Change Strategy
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Time Schedule
6 month Time FrameFebruary Fiscal year 2013: Beginning Inventory.
March
April
May
June
July Mid Year Inventory
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http://www.youtube.com/watch?feature=player_embedded&v=_TrhphCRibM#t=39s
Prevent: Theft Videos
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YAY IMPROVEMENT!
Improve by 50% by next years inventory.
EXPANSION!