Price Optimization Helps Goody's Maximize Margins

Goody's Family Clothing, headquartered in Knoxville, TN, sells moderately priced fashion apparel at 385 stores in 21 states. The retailer has long relied on a marketing strategy that includes competitive pricing, a broad inventory, and frequent promotions. Goody's was finding that it was left with too much inventory at the end of the season or selling period, because it did not mark down prices soon enough. At the same time, the retailer wanted to avoid marking down prices too soon. Used with permission from Integrated Solutions for Retailers magazine