Huffords Jewelry

St. Louis, MO

RETIREMENT/INVENTORY LIQUIDATION SALE

 

Huffords Jewelry has been a fixture in the greater St. Louis community since 1948, providing customers with fine jewelry, quality brands, and exceptional service. Duff Hufford was ready to take a step back from the daily operations and to move into semi-retirement with the intent of handing the reins over to his son, Dan, as the third generation jeweler to run the family store.

The Goal

The family’s goal was to embrace Duff’s transition with a celebration and major sale event for the community. In the process, a sale of this magnitude would eliminate aged merchandise, allow for a cash infusion into the business, increase the customer base, ensure the financial health of the business, and give Dan Hufford the opportunity to put his take on the store’s future.

“The Gordon Company was recommended to me by a fellow store owner, and after speaking with the principals, I knew they would be the best choice. I committed to follow their detailed instructions and action plan, despite having questions along the way. But I became a true believer when I started seeing the results, and I never turned back.“ – Duff Hufford

“Our store traffic during the sale was amazing, dare I say bordering on overwhelming. But it was in the best way that you could hope your traffic would be. Some friends were surprised by our choice of marketing tactics (sign walkers and the mobile truck), but our comment was…. Say what you want. I’m laughing all the way to the bank.“ – Dan Hufford

Sales Results Were Excellent

• Actual gross margin on client goods was exceptional: 32.69% against a projected 11.45%
• A much lower overall discount rate on the client’s owned goods during the sale enabled the retention of much more cash than expected
• Sold nearly two times more during the sale event than during the same time period the year before
• 28% of the customers who purchased were new to the store and were added to the client’s database for future mailings and promotions

“The Gordon Company delivered on everything they promised, and they managed to do it with class and respect for our store and our reputation.“ -Duff Hufford

“It is a great feeling for us to get some old debt paid off, thanks to the success of our Gordon Company event. This will put my company in a financial position it has not been in for quite some time. It will enable me to implement some new and exciting programs that I have been unable to do until now. Very exciting!“ -Dan Hufford