Business Articles

Do you know your retail arithmetic?

Get a handle on profit, margin, turnover and more with this handy primer — and you’ll be better prepared to run a successful business
By Howard Scott
Published: January 14, 2014
You’ve heard the terms for years: margin vs. markup, the discounting rule, turnover, markdowns, profit vs. return. They’re familiar, but you may not be sure when one should be used instead of another. Or maybe you need a refresher. Here’s a guide to the nomenclature and the math behind it.

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