Laurel House Shops - Stops

Saturday was the final day of sales for the Laurel House Shops. A chapter in Susan's book is finished and for the next two weeks she can work on the epilogue. It was a family affair as the entire family spent Sunday doing the final inventory. It will be an experience the girls will remember their entire lives (and good business experience).

It took only two weeks to sell off 70% of the inventory at 50% and 70% off. It will be interesting to see the final accounting tally of the 9 year investment. The number of customers feeling regret about the closing was astounding.

Timing is everything. Sales from 2007 had dropped almost 40% which is a significant amount of overhead to absorb --and the trend was not reversing - either due to the economy, other store liquidations, Nordstom's entry into Cincinnati, lower turns for big ticket items, or just the 30% of stale inventory that finally choked off the open to buy seasonal purchases. Susan timed this closing perfectly - post Xmas sales and pent up consumers desires to buy during the January winter blues (and the weather cooperated also).

Susan would make a great retailing consultant after the 9 years of the business cycles - she opened in the recession of 2001 and closed toward the end (I hope) of the worst recession in my lifetime.

And - I will always know I have a back up career as a retailing "stock boy" :)