High Street Retail case study
JD (John David Group) is a well renowned store, which sells top quality sportswear and many fashionable accessorises. It was founded by John David in 1981 and the first store opened in Bury. The CEO of JD is Barry Colin and Peter Cowgill is the chairman. JD sells exclusive brands such as Mc Kenzie and K-Swiss. It now has more than 430 outlets, and operates in both the UK and the Republic of Ireland. The Pentland Group Plc owns 57% of the company since 2005. JD is mainly aimed at teenagers aged 13-19, but nevertheless attracts many other age groups also.
Most JD stores are located in areas such as Surrey Quays, Lewisham, Brixton and Peckham and Oxford Street. JD closed down non profitable stores in order to increase profit. Aims & Objectives Every business has aims and objectives. JD aims to make profits, in order to make profits JD has to set smart targets, which are practical objectives which have to be achieved. It breaks down the objectives into achievable targets. The targets have to be specific, measurable, achievable, and relevant and time specific (SMART) in order to be accomplished.
In order to be successful JD should set out aims and objectives, looking back at last year’s success. For example looking back at JD’s success which made revenue of i?? 300m and i?? 12. 4m in operating profit. The company can now set further targets that need to be achieved in a relevant amount of time. It is likely that they would like to increase their turnover and operating profit. For example there aim could be to reach i?? 360m and i?? 12. 7m in operating profit by 2010.
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JD sports could benefit by expanding their existing stores as they would be able to display more items on shop floor which can grab, the customer’s attention and therefore increase sales. By setting individual targets for employees to achieve, can help JD sports achieve their aims, as it will help them monitor their staff’s progress as well as improve there customer service as employees will make an extra effort to achieve their personal targets which could also encourage customers to come and shop again.
For example if they were to open concessions in department stores, they are easier to get around and could interest more customers, other than JD’s target audience as department stores have a larger target market. External Environment-High street crisis Retail businesses rely on consumer confidence, because they feel that if the customer is confident of their future prospects and income they are more likely to spend money.