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GUCCI (House of Gucci) is an Italian haute couture company. It was originally established by Guccio Gucci who lived in Florence in 1921. The high fashion(Griffiths, 2000) company, Gucci, started as a family owned saddlery and leather goods store in Florence in 1921.
Exhibit A and Exhibit E show in the new 2006 Ready to Wear advertisement that GUCCI Blouses are far advanced in terms of trends and fashion design as compared to many of its blouse competitors like DKNY, D & G, BCBG, Burberry, Diesel, and others. The financial statement of DKNY shows that the net profit is only a low 8% of the net sales. (www.edgar-on-line.com)
The key functions of buying and merchandising and other liaison with retail and marketing include ranging, pricing, promotions and space allocation. Buyers also identify market opportunities to meet changing consumer needs The market opportunity, based on the trend forecast, shows that GUCCI blouses are one of the top fashion statements that many of the "rich" clients love to keep as display items both on their person and at home.
In accounting, the projected Income statement is estimated by first projecting the future sales. In this case the blouse sales have been estimated to be 2.5% higher than its previous 7% per year. To get the sales for three months, the annual sales of 7% of 210 million pounds is multiplied 3 months and divided by 12 months. The months are July, August and September. Therefore the estimated sales are 4.99 million pounds for the three month period.
The projected sales as stated in the problem is 210 million and blouses took 7% of the sales. ...
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