We can pretend the Minnesota State Fair is all about butter princesses, deep fried stuff on a stick and hogs the size of Mini Coopers, but deep down, you know it's all about the people watching. The Minnesota Historical Society has hundreds of great photos featuring fair goers, carnies and vendors from fairs past. I had the opportunity to flip through a thousand or so of them for a recent Joe Kimball story and plucked a few out that screamed for a caption contest. MHS is pretty vague on the details (the photo was shot in 1947) just "two people weighing meat." Are they in the ag building, a young apprentice learning the art of butchery? A father and son making sausages at a church dining hall? Here are my captions. Maybe I'll pick a winner and send you a case of sausages or something. I said maybe! "Kid, someday all this 'making sausages at the Minnesota State Fair' will be yours!" "I said put yer thumb on the scale, not your whole arm, ya idiot!" 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All have market caps of about one billion dollars or more. Nike Inc. (NKE) is the largest footwear manufacturer in the country by market cap. Nike's shoes include include running shoes, basketball shoes, soccer shoes, training shoes, urban shoes, and children's shoes. The P/E is 19.76, the PEG is 1.3, and the stock pays a yield of 1.3%. CROCS Inc. (NASDAQ:CROX) is the company that makes the weird looking, but comfortable shoes that are made out of a specialty resin, that comes in many colors. The stock has a P/E of 44.12 and a PEG of 1.08. Wolverine World Wide Inc. (NYSE:WWW) makes and sells all kinds of shoes such as casual shoes, dress shoes, outdoor shoes, boots, uniform shoes, work shoes, slippers, and moccasins. Their brands include Harley Davidson, Hush Puppies, HyTest, Merrell, and Patagonia. The P/E is 17.74, the PEG is 1.27, and the stock pays a yield of 1.3%. [Doesn't this stock have a great stock symbol?] Deckers Outdoor Corp. (NYSE:DECK) manufactures and markets outdoor and casual footwear including boots, sandals, and slippers. The P/E is 40.3 and the PEG is 1.24. Iconix Brand Group Inc. (NASDAQ:ICON) owns Bright Star Footwear, Inc. The P/E is 28.13 and the PEG is 1.08. Timberland Co. (NYSE:TBL) makes all kinds of shoes including various types of boots, and men's and women's casual shoes and sandals. The P/E is 15.55 and the PEG is 1.5. Skechers USA Inc. (NYSE:SKX) designs and sells casual shoes, dress casual shoes, comfort shoes, outdoor shoes, jogging shoes, sport shoes, and sport sandals. The P/E is 13.2 and the PEG is 0.82. Brown Shoe Co. Inc. (NYSE:BWS) makes men's, women's, and children's casual, athletic, and dress shoes. The P/E is 15.32, the PEG is 0.53, and the stock pays a yield of 1.3%.
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However, the reality of today's sales world is that companies are struggling to do more with less which less which means most sales people have to manage a big sales territory. The key is to manage your accounts more effectively by investing the bulk of your time managing your best and most profitable accounts (top 20%) and customers that have good potential to grow (next 20 30%). Sales Lie: 5: "If I don't set a sales target I won't be disappointed." In my eyes, people who don't set sales targets are essentially saying, "I'm not sure what I'm going to do this year and I don't want to work harder than I have to." Top performing sales reps always set high, ambitious goals and their targets are usually higher than those set by their company. They use these goals to inspire and motivate themselves to achieve more. Sales Lie: 6: "No one is buying." I recently spoke to someone who sells cars, an industry that has been particularly hard hit in the last few years. However, his sales continue to increase even though many people in the same business complain of declining sales. Regardless of the economy, people still make buying decisions. They still make purchases. Companies still need products and services so stop wasting time thinking about the people who aren't buying and find the people and companies who are buying! Sales Lie 7: "I don't need to practice my sales presentation." The best sales people seldom take their sales appointments and meetings for granted. They rehearse the questions they need to ask. They run through their presentation to make sure they have included the necessary details and that their presentation flows in a logical manner and that it addresses their prospect's situation and/or needs. Air Jordan Spizike Bordeaux It no surprise that the holiday season is the most lucrative time of the year for e tailers, as more and more consumers have turned to online shopping in recent years. Despite the current recession, the results showed an overall optimistic perspective with over 60 percent of the Yahoo! merchants surveyed expecting sales to be the same as most years or even stronger. Many small business online retailers believe they will bounce back during this year holiday season after a rather disappointing season last year. In an email interview with the WHIR, Paul Boisvert, lead product manager at Yahoo! Merchant Solutions, discusses a recent study that surveyed Yahoo! merchants about their expectations for sales performances for the holiday season compared to previous years. The WHIR: How does conducting these kinds of surveys fall in line with the company overall strategy in serving a small business clientele? Paul Boisvert: We conduct surveys with our customers regularly. It important that we gather feedback from our merchant customers in an ongoing manner so that we know what we doing well and what we can do to better serve their needs. Additionally, it helps us understand current attitudes and concerns that may help us better anticipate upcoming needs. What conclusions can small businesses and customers draw from the results of this survey? PB: Our small business merchants appear to be cautiously optimistic about this year holiday shopping season, and the preliminary data seems to support their positive attitudes: we saw a 6 percent increase in revenue year over year for Cyber Monday. Merchants have been seeing some positive trends, such as a shift in the overall percentage of holiday shopping being conducted online. They believe they can capture their share of this shift. I think the results of this survey support what we already know: shopping online can be more convenient and cost effective than shopping in person. There no waiting in lines, fighting the crowds, or being limited to store hours. And product and pricing comparisons are easier online. Furthermore, consumers aren limited to gifts they can find at the mall; online they can find truly unique gifts to delight their family and friends. What were some examples of the survey results that you found most intriguing? PB: I was intrigued by the industries most optimistic about this upcoming holiday season: beauty and fragrances; clothing, accessories shoes; and food. In all of those cases, more than 40 percent of our merchants surveyed expect this year to be stronger than most years. I thought it was interesting that merchants from the industries like books and magazines, electronics, and music expect sales this season to be back to normal, after being depressed last year. In most cases (with the exception of electronics), these are industries with lower average ticket prices. Merchants in some of the industries with higher average product prices, such as computers hardware, were a bit more pessimistic (only 5 percent of merchants in this category expect thus year to be stronger than most years, and 64 percent expect sales to be weaker than most years). Perhaps the feeling is that while the economy is starting to recover, the gifts purchased may be a bit more modest in size than they were during stronger economic periods. If so, the preliminary data shows there may not be cause for concern, as it appears that an increase in average order sizes actually drove much of the increase in revenue this Cyber Monday. Why do you think the majority of Yahoo! merchants surveyed expect sales to be the same as most years or even stronger, especially when considering that the recession is showing no definitive signs of ending anytime soon? PB: Small business owners tend to be optimists in nature. By definition, they entrepreneurs who believe they can turn their ideas, skills, and passions into viable businesses, often personally footing the start up costs and overcoming many challenging obstacles. This is a tough economic climate, but successful entrepreneurs have faced and overcome daunting challenges before. They may have to be increasingly creative in what they do to survive and thrive, but we believe our small business merchants are up to this challenge and whatever other challenges come their way. What kinds of services does Yahoo Small Business offer to help optimize sales for e commerce stores? PB: We offer a robust, scalable platform with more than 99 percent uptime and the ability to scale with order volume. Our easy to use tools are appropriate for merchants just starting out, yet our systems offer the flexibility and integration options that allow some of the largest merchants on the web to thrive on our platform. Unlike most ecommerce offerings out there, we offer an enterprise class analytics package providing merchants with in depth information about sales, merchandising, and visitor behavior that they can use to optimize their product offerings and marketing initiatives in real time. We also have some useful tools to make merchandising recommendations to increase average order volumes, such as our proprietary automated cross sell recommendation engine which automatically cross sells product combinations that have been purchased in the past. Our merchants can also take advantage of over 30 approved Yahoo! Merchant Solutions development partners to truly customize their sites or integrate back office systems to meet the unique challenges ecommerce retailers of any size may have. With over 10 years of experience in the industry, and hosting more Internet Retailer top 500 merchants than any other hosted ecommerce solution, Yahoo! can offer merchants the security, reliability, and features to make their online business a success. The company said that between Thanksgiving and December 16, VeriSign Payment Services have processed more than 23.6 million Internet merchant payment transactions totaling approximately $3.54 billion in online sales volume. The numbers for last year were 16.9 million transactions totaling approximately $2.89 billion, the company said. Read More
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