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Using GMROI to Improve Your Business

The annual Cost of Doing Business Study from the North American Retail Hardware Association (NRHA) is the industry’s only inclusive benchmarking study and has been conducted annually for more than 100 years. The study provides detailed financial information from hardware stores, home centers and lumber/building material outlets.

NRHA is creating a library of resources that will help you better understand and use the metrics presented throughout the Cost of Doing Business Study. These resources will be PDFs that include case studies from other retailers who have improved specific metrics, as well as videos you can share with your employees to train them to better understand the financial side of the business.

The latest new resource takes a look at gross margin return on inventory (GMROI). To download the PDF, click on the button below. To view the video that you can share with your team, visit https://youtu.be/HlGzEV0Gmeg.

Download the PDF

About Kate Klein

Kate Klein
Kate is an assistant editor for Hardware Retailing magazine. She reports on news and industry events. She graduated from Cedarville University in her home state of Ohio, where she earned a bachelor's degree in English and minored in creative writing. She loves being an aunt, teaching writing to kids, running, reading long books, farm living and, as Walt Whitman says, traveling the open road, “healthy, free, the world before me.”

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