What IS PPP
Our first line of defence is who?
YOU/US
What is Internal theft?
When an employee takes something (product, supplies, cash, etc.) from the store that either does not belong to them or was not purchased according to policy
What is Shrink?
Shrink is the measurement of product loss that occurs throughout the yearly inventory cycle- either through theft or through operational shortages
What is Manchester Forts complete shrink on the most recent cycle count?
3.8%
Where are our RED Routes?
Down the back walls of FTW & Men's Running Apparel wall (behind fixtures)
What two main categories is Profit Protection divided into?
Shrink & Margin Erosion
What is External theft?
When an individual not employed by NIKE takes something from the store that does not belong to them
What are the two ways that NIKE define theft?
Internal theft & External theft
What are the top 4 shrink departments for Manchester Fort?
1) Men's Running
2) Men's NSW
3)Men's Training
4) Women's Training
What policy do we follow that prevents operational loss & theft?
Rule of two
We prevent three core pillars to keep our bottom line healthy, what are they?
Theft, Operational Shortages & Margin Erosion
Define Loss?
Something that takes away from profit outside of normal costs of business expenses
What are the steps you take when a customer approaches you at the fitting rooms to try on?
1) Greet the consumer
2) Take the items off the consumer & grab a number card for the amount of units they have
3) Place the items into the fitting rooms for the consumer and ask them to hand the number card back once they have finished
4) Check in with consumer with a knock or greeting (outfitting opportunity here)
5) Take the number card back off the consumer & offer to check out to finish the consumer journey
What are the top four sub-loss departments for Manchester Fort?
1) Men's shorts
2) Men's performance tops
3) Men's Pants
4) Women's Nike Pro leggings
What policy should we all follow when witnessing external theft instore?
No Stop Policy
What are five ways we can cause operational shortages in store?
1) Processing items in and out correctly (Mismates, store transfers and obsoletes)
2) Returning product incorrectly
3) Receiving errors
4) Messy/unorganised workspace
Define Profit?
What remains after operating costs and losses have been deducted (what is left)
What is the definition of de-escalation?
De-escalation is the ability to re-direct, defuse or reduce the intensity of conflict when an individual (employee or consumer) becomes triggered or agitated
How much did Manchester Fort lose in $ amount during the last cycle?
$156,556
How would you report Internal Theft?
Speak up! Tell a manager or use the anonymous hotline 'Speak up portal'
What are five key drivers of Margin Erosion?
1) Discount errors (sold at a lower price than intended)
2) FOH errors (price mistakes, checkout errors, refund issues)
3) Store closures
4) Regulatory Fines (failing to comply with laws or regulations (H&S violations, environmental violations etc.)
5) Cash handling (Cash overages or shortages that have a direct impact on profit)
What does EBIT stand for?
Earnings Before Interest Taxes (a measure of a company's operating income reflecting the profit generated from its core business operations before considering interest and tax expenses)
What is Margin Erosion?
Margin Erosion occurs when everyday errors contribute to a lower overall revenue intake - causing our profit margins to shrink rather than grow
How many units did Manchester Fort lose during the last IC cycle?
-31,913 unit loss
How do we prevent External theft?
Providing excellent customer service through S.O.L.E