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JA seeking survey participants

April 02, 2008

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New York—Jewelers of America (JA) is looking for members to participate in the 2008 Cost of Doing Business survey, JA's annual snapshot of conditions in the retail jewelry world.

According to a media release from JA, members who complete the survey receive a free copy—a $150 value—when the report appears later this year.

The report is compiled from short, confidential questionnaires filled out by JA members each spring. Members submit information such as sales volume, inventory turnover and operating expenses.

The results are then analyzed by store type and result in a report that allows retailers to compare their company's data to others and to learn about strategies that were effective in improving profitability.

"Jewelers who manage their stores efficiently and make informed decisions about their business strategies can do well even in a challenging economic environment," JA President and CEO Matthew A. Runci said. "The Cost of Doing Business survey is one of the most valuable resources JA provides for retail jewelers because it helps them learn which business practices separate high-profit from low-profit stores."

In 2007, JA began making the survey available online. This year, JA has improved its online format.

Now, participants' operating ratios are calculated immediately, and they can print and save them for comparison when the entire report is released.

In addition, participants now can navigate back and forth between pages prior to completion.

JA members interested in completing the 2008 Cost of Doing Business Survey can visit JA's Web site, Jewelers.org, for more information.
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