Shareholder Question: Do it Best Store Count

QUESTION

  • You said “dozens” of new Do-it-best retailers.  Please explain. Thank you.

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ANSWER

The exact number of new retailers is not known immediately because some of the orders are taken on the show floor, whereas other orders are placed through the warehouses.  We do not receive the warehouse reports on a daily basis, particularly not during the show.  Accordingly, we were combining the immediate drop shipments with the notes about orders that were likely to be prepared between new retailers and the warehouses as an immediate outcome of the show.  The combination of these two figures is now estimated to be approximately 100 new Do it Best retailers soon going into operation, and an additional 1,700 who have signed on to receive samples (for evaluation) from the warehouses in November.  It is not known what the rate of conversion will be from those 1,700 stores.   Not one single visitor to the booth failed to agree that what they saw was better performance than they were accustomed to in this category.  No booth visitor “refused” to consider placing the product in their stores – it was more a case of some people being willing to proceed immediately on the basis of what they saw, and others wanting to use the product themselves to “close the deal”.  Therefore the November delivery of samples will address the needs of this second group.  The next opportunity to see the store members face-to-face is in May.  In the meantime, the entire organization will continue receiving relevant materials from corporate through the truck delivery program.

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