The Four Essential Stages of a Complete Retail Turnaround
Through their work with an array of retail situations, Outcalt and Johnson identified that achieving a complete retail turnaround requires success in four essential stages:
Any turnaround efforts focused solely on stages 1 or 2 – that is, being satisfied with only a Financial or Operational turnaround – are unlikely to produce an enduring retail operation.
Many retail turnarounds fail to move past Stage 2. That's a shame. As experts, Outcalt and Johnson believe a retailer that has turned around should be given every opportunity to thrive and grow.
- Financial
- Operational
- Strategic
- Aggressive Rollout.
Any turnaround efforts focused solely on stages 1 or 2 – that is, being satisfied with only a Financial or Operational turnaround – are unlikely to produce an enduring retail operation.
Many retail turnarounds fail to move past Stage 2. That's a shame. As experts, Outcalt and Johnson believe a retailer that has turned around should be given every opportunity to thrive and grow.
