The Buyer will determine the overall strategic direction of the product/merchandise mix for the Retail/Exhibition Division for jewelry and fashion textiles. Specific responsibilities include establishing merchandise assortments for stores and exhibitions, achieving sales and gross margin goals and ensuring appropriate inventory levels are maintained. The Buyer will determine store unique pricing strategies to ensure GM goals, preparing reports on sales, and ensuring the correct assortments are maintained for specific needs of each store. The Buyer should maintain good business relations with customers as well as the MFA vendor base.
• Review, update and procure store assortments based on needs and current trends to ensure a proper balance of fashion (contemporary) and MFA basics.
• Attend trade shows, meet with vendors and vendor representatives to review and evaluate product lines.
• Evaluate the NRQ replenishment models within each department on a quarterly basis to ensure that appropriate styles and inventory levels are in place to maximize sales.
• Complete financial plans for each season with realistic and achievable sales, GM and turn goals.
• Work within Open-to-Buy to finalize buy quantities by style and maintain a flow of goods. Participate in monthly meetings to review open to buy reports to ensure receipt flow allows us to meet plan by department.
• Work with Director and Designer to concept, suggest and execute MFA appropriate product based on the MFA’s collection and trends happening within the market and the store’s business.
• Inject market product where needed to meet receipt plan and meet individual store assortment needs.
• Participate in seasonal sales re-cap by department. Utilize this analysis to build sales.
• Review sales on a daily and weekly level versus LY and PL to better understand customer needs and initiate markdowns on a timely basis.
• Determine product focus by department by month to ensure “newness” on the retail floors and the website.
• Adhere to Exhibition assortment conception and confirmation schedule to deliver product timely for the Exhibition shop set-up.
• Recommend product categories to highlight in all advertising channels.
• Seasonal market review to determine trends, conduct competitive shopping for content and pricing.
• Seasonal store assortment presentations to store management team. Supply hard copy assortment plans for store’s reference.
• Monthly meetings with Director to report by store on sales results, GM, receipt flow, NRQ, Exhibition schedule, trends, markdowns, visual, housekeeping and other related issues.
Bachelor’s degree and 3 to 5 years of related experience; Prior buying experience a must; Excellent verbal and written communication skills; Detailed oriented, visually intuitive and able to work independently; Strong organizational skills and the ability to prioritize and manage multiple tasks simultaneously; Strong mathematical skills with the ability to calculate figures and amounts such as discounts, interest, commissions, proportions and percentages; Specific retail calculations such as gross margin, inventory turns, weeks of supply and sell through are necessary; Excellent computer skills; Valid Driver’s License.