Question: What Is A Good Same-Store Sales Growth?

What does Comparable store sales mean?

Comparable store sales refers to the revenue generated by a retail location in the most recent accounting period relative to the revenue it generated in a similar period in the past..

How do you find comparable sales?

How to assemble the best compsSearch recently sold listings. Start by searching real-estate listing sites, such as Zillow and Redfin, for the handful of recently sold listings that are most like your home. … Apply these standards. The sold listings that are best for comps are: … Visit your comps. … Calculate your home’s value.Jan 5, 2018

How do you increase sales?

Increase salesINTRODUCE NEW PRODUCTS OR SERVICE. Provide a broader range of products or services for your clients. … EXPAND TO NEW DOMESTIC MARKETS. … ENHANCE YOUR SALES CHANNELS. … MARKETING ACTIVITIES. … CHANGE YOUR PRICE. … BE AWARE OF THE COMPETITION. … IMPROVE COMMUNITY RELATIONS. … DON’T NEGLECT CUSTOMER SERVICE.More items…

How do I find comparable properties?

There are several additional resources for finding comps:Public property records: If you want to find the sale price of a specific comparable, the county usually keeps those records. … Zillow: Search on Zillow using the Recently Sold filter. … Zillow pricing tool: Try this pricing tool to find comps in your area.

How far back do appraisers go for comps?

90 daysWhen an appraiser is looking for comparable properties to determine a price, they are supposed to only look at sales within the last 90 days. Now, if there aren’t enough sales a lender might go back six to 12 months. But the ideal is 90 days.

Why do investors place more weight on comparable store sales than growth in sales?

Why do investors place more weight on comparable-store sales than growth in sales? This shows that a company is actually going to make it. if you are doing well compared to your competition, that means that are you’re going to be stable in the market.

Are comps included in gross sales?

In other words, comps are included in sales, and the retail value, or the difference between the retail price and the cash received, is recorded as a marketing expense (e.g., “Promotion”). … And, of course, the true marketing expense is not the retail value of comps, but rather the cost of those comps.

What does same store sales growth mean?

Same-store sales figures are expressed as a percentage that indicates the relative amount of revenue increase or decrease. For example, a same-store sales figure of 7% indicates that total dollar revenues at a retail chain’s existing locations increased by 7% over the same given time period from the previous year.

What does Sssg mean?

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What does Same store mean?

Same-store sales is a business term that refers to the difference in revenue generated by a retail chain’s existing outlets over a certain period (often a fiscal quarter or a particular shopping season), compared to an identical period in the past, usually in the previous year.

How accurate are Zillow estimates?

According to Zillow, most Zestimates are “within 10 percent of the selling price of the home.”4 But Zestimates are only as accurate as the data behind them, so if the number of bedrooms or bathrooms in a home, its square footage, or its lot size are inaccurate on Zillow, the Zestimate will be off.

How is same store sales growth calculated?

Total Sales (in the previous year) = Sales recorded in the same period but the previous year for the same outlet and; The percentage change in sales shows the increase or decrease in the total sales recorded by the outlet in the current. Year compared to the total sales recorded in the previous year.

How do you maximize sales?

10 Ways To Maximize Sales In RetailOptimize your online presence.Master the arts of upselling and cross-selling.Create an event or holiday.Hire and develop superstar employees.Ensure you always have inventory on hand.Optimize your email campaigns and get more subscribers.Understand and show appreciation for your customers.Engage with your customers.More items…•Aug 20, 2019

How can I get more sales?

If you want to boost sales and don’t know how, here are 9 awesome ways to do just that:Focus on the existing customers. … Learn about competitors. … Innovation and unique products. … Cultivate value. … Build a customer service approach. … Customer relations. … Promotion. … Marketing.More items…•Jun 19, 2015

What is the sales growth rate?

The sales growth rate measures the rate at which a business is able to increase revenue from sales during a fixed period of time. Understanding the sales growth rate is a critical metric that empowers companies to make data-informed decisions.

How do you calculate comps?

Comps are typically determined by comparing the property in question to other properties within a 1-mile radius, which have sold within the last year and have similar attributes (such as the same number of bedrooms, age, subdivision, square footage, etc).

Why might companies focus on same store sales rather than total sales?

Why might companies focus on same store sales rather than total sales? If a company is growing by opening new stores, then presumably total revenues would be rising. Comparing total sales at two different points in time might be misleading.

What does comps mean in real estate?

Real estate comps are recently sold homes that are similar to the property you’re trying to buy or sell in terms of location, size, condition and features. Comps, an abbreviation of “comparable sales,” are used to determine a home’s fair market value through the sales comparison approach to pricing property.

Why are same store sales important?

By providing the same-store sales metric, analysts can determine how well existing locations are performing. In fact, investors and analysts often keep a close eye on same-store sales due to it being a strong predictor of the health of retail operations and future success of a company.

How do you calculate sales per store?

The formula is total in-store sales divided by selling area in square feet. So if say, an apparel store sold $1 million worth of merchandise in its 1,800 sq. ft shop, that store’s sales per square footage would be: $1,000,000 / 1,800 sq.

How do you increase same store sales?

To that end, let’s look at some of the ways that you can boost your same-store sales.Run promotions… but be smart about them! … Collect customer information and put their data to good use. … Invest in your team. … Find ways to drive foot traffic. … Maximize sales from existing visitors. … Make sure your stores are on-trend.More items…•Jan 7, 2020