Yesterday I mentioned a report that I created back in 2013. Many of you have written me over the years to tell me you cloned this report, and it helped you find a way to communicate to your merchandising teams that there were problems they were not seeing clearly.
The report is a simple one ... it's called a "Class Of" Report.
Here's a business that rode the COVID-bump to riches, growing from $37.9 million to $43.5 million through June 2021.
Then reality hit in 2022 ... it was like a game of Chutes and Ladders. In June 2023 Management is frustrated that this business is worse-off than in June 2019, even though prices are higher and business costs are higher.
Look at June 2022 ... the business collapsed after the COVID-bump.
However, I have a homework assignment for you. What happened in the year ending June 2021 that set the stage for the June 2022 collapse?
The answer? Stayed tuned.