Jeweler’s Changed Focus Turns Red into Black
Dependent on passing-tourist trade, this jeweler found it impossible to do more than cover costs, let alone make a profit
I was conducting interviews with clients of a well-established accounting practice, following a client seminar the previous day. The owner of a jewelry shop had requested an interview session.
He was having trouble. Sales volume was up last year, but the bottom line showed a loss. Discounting had been too high. Given its location on a 20-minute tourist stopover, it was perhaps understandable that the focus tended to be on a sale at any price. Nevertheless, it was thought that ...