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Saks Fifth Avenue logo
Organization
Job Title
BUYER, Sunglasses and Designer Handbags
Location
New York, New York
Country
United States
Region
NY Metro
Reference Number
170002O5
Position type
Permanent
Category
Retail
Job Function
Buyer
Experience level
Mid to Senior Level
Education level
Bachelor's Degree

BUYER, Sunglasses and Designer Handbags

 

Position Summary:

 

Buyers are responsible for the overall merchandising direction of a category or department(s) with the goal of meeting/ exceeding sales and margin targets. Buyers maintain a singular focus on the product and customer by incorporating competitive intelligence, customer insight, and business analysis. Buyers are responsible for the purchase and negotiation of merchandise. Buyers partner with Merchandise Planners to develop strategies to maximize business opportunities.

 

 

 

Merchandising:

 

Executes vendor selection and develops vendor partnerships. Monitors industry trends, evaluates competition, and attends major markets. Executes the merchandise strategy, including product selection and product and key item development. Conducts line reviews / style outs for management and staff. Ensures that new items are set up properly in the item database. Ensures the dissemination of product knowledge to store associates. Supervises the Best / Worst Seller Review. Critiques sales unit performance analysis for opportunities. Coordinates and conducts the Merchandise Hindsight. Coordinates store visits as feasible. Supplies information and assists in floor space strategies and opportunities. 

 

 

 

Financial Planning:

 

Manages the development of the vendor / store matrix, and assists in coordinating store input for the matrix. Approves departmental sales and average stock targets. Executes the flow of the departmental topside plans by month. Participates in the review of and approves departmental topside financial plans. Authorizes departmental store sales plans. Participates in ensuring adherence to the company’s planning calendar. Furnishes information for and participates in the financial Business Review.

 

 

 

Open-to-Buy Monitoring:

 

Executes the development and maintenance of the PO checkbook. Manages the markdown projection process and the projection of vendor allowance. Manages the negotiation and collection of vendor allowance. Develops and executes aged inventory exit strategies. Manages the bi-monthly forecasting of sales and inventories through the OTB review process. Evaluates vendor to store receipt flows, and actual to planned receipts. Executes the monthly stock ledger review, and directs the purchase journal review process. Manages the monitoring of inventory productivity, and analysis of vendor profitability.

 

 

 

Purchasing, Allocation, and Replenishment:

 

Assists in analyzing class performance, planned class penetration, and average retail by class. Manages the timely placement and maintenance of purchase orders. Ensures assortment planning best practices and allocation strategies. Executes and develops departmental strategies to achieve global replenishment targets. Prepares information to support micro merchandising strategies, and reviews with team. Provides information for, reviews, and approves the assortment matrix and buy plan. Evaluates and certifies case pack and order flow recommendations. Participates in weekly allocation strategy sessions. Reviews and approves store volume groups, allocation tables, and size grids. Manages returns to vendors as negotiated and necessary. Reviews identified distribution and vendor logistics opportunities. Establishes replenishment strategies and reserves appropriate funding. Identifies candidate items for replenishment. Promotes and critiques replenishment assortment, financial plans and open to buy with Replenishment Analyst. Communicates with vendors with regard to replenishment fill rates.

 

 

 

Pricing and Marketing:

 

Plans and approves all advertising and marketing. Establishes and approves pricing strategy. Evaluates target markup analysis and guidelines and applies appropriately to buying decisions. Recommends and approves item price changes, and ensures that prices changes are input in a timely manner. Evaluates financial impact of price changes. Reviews and provides information for the timely response to store visit notes. Manages ad in-stock on promotional items, and ensures the communication of in-stock issues to stores. Monitors style advertising effectiveness. Oversees appropriate product ticketing and in-store signage. Supports visual team in providing store presentation guidance.

 



 

People Development:

 

Manages organization and staffing, as well as skills training and development. Coordinates and prioritizes the team’s activities, and develops and fosters a teamwork atmosphere. Executes and participates in the formal performance review, PDP, processes as directed. Participates in fostering job satisfaction and positive morale.

 

 

 

Qualifications

 

 

 

 

 

Job Requirements:

 

University or College degree or commensurate retail experience. 

 

Strong business and financial analysis skills; Proven ability to create and execute a sound business strategy. 

 

Strong retail math acumen, including elements of markup, margin planning, open to buy, inventory productivity measures (WOS, T/O, GMROI), Assortment Planning. Demonstrated managerial and leadership skills. Strong communication and negotiation skills; Ability to develop strong relationships across all levels of the organization. Ability to build / maintain strong Vendor partnerships. Willingness to travel, including overseas.

 

3-5 years experience in buying office. 

 

Business Acumen, Dealing With Ambiguity, Drive For Results, Customer Focus. 

 

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