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Buyer, Kids
Lord & Taylor
New York, NY, United States
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Role Summary:
Below is a broad overview of the essential job functions required for the successful execution of this position.
The Buyer is responsible for developing and executing merchandise strategies to deliver sales and gross margin goals through focused merchandise assortments, marketing and pricing strategies, and merchandise management. This position ensures merchandise is purchased to maximize results while enhancing the overall department and company strategy. This position works closely with the management team and merchandise planning teams to significantly improve the profitability and maximize shareholder value.
Key Functions:
Below is a list of the the major tasks, duties, and responsibilities performed by this position.
• Executes vendor selection, develops strong vendor relationships, monitors industry trends, evaluates competition, and attend major markets.
• Executes the merchandise strategy, completes top level seasonal buys to ensure optimal productivity by style, and reacts to trends in-season.
• Understand nuances of the .com business and executes appropriate merchandising strategy for differing retail channels.
• Partners with Planner to develop the assortment matrix.
• Works with Planning team to analyze class, vendor and replenishment assortment both at the top line level and by door.
• Manages the bi-monthly forecasting of sales, markdowns and inventories through the OTB process. Negotiates and partners with vendors to maintain gross margin profitability.
• Manages the negotiation and collection of vendor allowance and advertising co-op.
• Monitors inventory productivity.
• Develops and executes aged inventory exit strategies.
• Executes the monthly stock ledger review, and directs the purchase journal review process.
• Plans and approves all advertising, promotional strategies and marketing. Monitors style advertising effectiveness.
• Partners with and supports visual team in providing in-store signage and store presentation guidance.
Qualifications
Professional Requirements:
Below are the professional requirements for this position, including level of education, special certifications or licenses; job specific knowledge and abilities, general business acumen, other required skills; technical or other skills such as position specific software.
• BFA or BA in Fashion Merchandising, Business, or related field preferred
• Must have 4-6 years of experience in a buying capacity, overseeing both the creative and financial aspects of merchandising
• Strong communication and negotiation skills
• Strong business and financial analysis skills
• Proven ability to create and execute a sound business strategy.
• Ability to build / maintain strong Vendor partnerships.
• Willingness to travel, including overseas.