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2001 Working Capital Survey - Chart 28

RETAIL

1Jul


Behind the Rankings


The management of working capital combines two measures, weighted equally:
1. Days of Working Capital (DWC) = (Receivables + Inventory ­ Payables) ÷ (Sales ÷ 365 Days). If payables exceed the sum of receivables and inventory, DWC is negative.
2. Cash Conversion Efficiency (CCE) = Cash Flow from Operations ÷ Sales.

The overall ranking: (Highest Overall CCE ­ Company CCE) ÷ (Highest Overall CCE ­ Lowest Overall CCE) + (Lowest Overall DWC ­ Company DWC) ÷ (Lowest Overall DWC ­ Highest Overall DWC). Days of Sales Outstanding (DSO), Inventory Turns, and Days of Payables Outstanding (DPO) are not part of the overall ranking criteria. Industry averages consider all companies in an industry, not just the top five.

Sources: REL Consultancy Group, Piranha Web




Back to "Forget the Float? — The 2001 Working Capital Survey"

RETAIL
Over- all RankCompany NamePrior Year SalesCash Conver. Effic.Days Working CapitalDays Sales Outst.Inven. TurnsDays Payable Outst.
CCERk.DWCRk.DSORk.Ts.Rk.DPORk.
20BLOCK- BUSTER INC$4,96028%30(8)221299744042212
32HOLLYWOOD ENTER- TAINMENT CORP$1,29623%65(8)2113111935945177
85ABER- CROMBIE & FITCH$1,04218%12817154215935110970
191ELECTRON. BOUTIQUE HOLDINGS CORP$7296%653(16)1032664996279
224STARBUCKS CORP$2,16913%2453731812104472413935
230TRANS WORLD ENTER- TAINMENT CORP$1,35813%268342922829758724
252INTIMATE BRANDS INC$4,51112%2883832921356319972
281BEST BUY CO INC$12,4946%642885550841436298
287AUTOZONE INC$4,48310%3773328032129596951
317SUNGLASS HUT INTNL. INC$63611%34346412216478815890
347COSTCO WHOLESALE CORP DE$32,1643%7866782141127725603
348TARGET CORP$33,7026%6142521420162652937276
352WHERE- HOUSE ENTER- TAINMENT$76612%2935751332529677050
357PIER 1 IMPORTS INC$1,2319%42943384322391041235
359TOYS R US INC NEW$11,8627%59129245658477846168
364WAL MART STORES INC$165,0136%67922188323651028506
378NU SKIN ENTERPR. INC$8807%5763327676729638978
379TJX COS INC$8,7957%60230256320561928522
394LOWE S COS INC$15,9066%61732270435471934359
399IDEAMALL INC$7323%81312118251961421536292
400ROSS STORES INC$2,4698%5453935029383739257
405WILLIAMS SONOMA INC$1,3848%53441363659479524622
423LIMITED INC$9,7236%63934285331652211953
441BJ S WHOLESALE CLUB INC$4,2063%79120167548836723670
444NBTY INC$72110%4145851714115294530446
454GOODY S FAMILY CLOTHING INC$1,1813%79720169552567043207
460FRESH DEL MONTE PRODUCE INC$1,8594%7592521927222936141237
465MICROAGE INC$6,1500%935572252001225351128
467ANNTAYLOR STORES CORP$1,2338%5045146222171480522719
485COMPUCOM SYSTEMS INC$2,7114%76828238332942213521737
487HOME DEPOT INC$38,4346%66740355764563320795
492STAPLES INC$10,6745%6873833312100568237280
494ADVANCED MARKETING SERVICES INC$6282%840221895053547461078
501PEP BOYS MANNY MOE & JACK$2,3956%64045408318387753116
502LONGS DRUG STORES CORP$3,6724%77031261877650520774
505OFFICE DEPOT INC$11,5705%7223731729248655941239
506INSIGHT ENTERPR. INC$2,0413%8062823552558555531407
511FOOTSTAR INC$2,2376%64746421986568819821
521WALGREEN CO$21,2074%747363091092557523680
523PC CONNECTION INC$1,4502%86423195322881618832395
538AMERI- SOURCE HEALTH CORP$11,6451%9042118621166839343197
541LANDS END INC$1,3204%73840357551480823681
547COLE NATIONAL CORP$1,0663%8043328316130386824625
562HANDLEMAN CO$1,1387%564615407785174565990
567INGRAM MICRO INC$30,7151%8962622934310838552122
568CARDINAL HEALTH INC$29,8712%8503226723182743636297
591BERGEN BRUNSWIG CORP$22,9430%94621177211691128632393
602HARCOURT GENERAL INC$2,40816%18711689893935391547163
608BARNES & NOBLE INC$3,4866%6605952866129446183
612BURLINGTON COAT FACTORY WAREHOUSE CORP$2,1995%72153481327391943200
616SHOPKO STORES INC$3,8983%7834642315125563026560
619BUILDING MATERIALS HOLDING CORP$1,0074%7614944840392837625619
628CIRCUIT CITY STORES INC$12,6143%8154439820164558229487
633CDW COMPUTER CENTERS INC$3,8422%8713934032285241288976
636FEDERATED DEPARTMENT STORES INC NEW$17,7169%423857556878538856089
642STEIN MART INC$1,2073%8104742727384940249
646GROUP 1 AUTOMOTIVE INC$3,5862%83644397547653513926
648SYSTEMAX INC$1,6861%87939344403901031934364
650NORDSTROM INC$5,5298%5477567145448473828518
655D & K HEALTHCARE RESOURCES INC$1,458-1%9602622315121652749145
656BRADLEES INC$1,5070%93832269324474733366
662NEIMAN MARCUS GROUP INC$2,8557%5717466429247385232394
663UNITED STATIONERS INC$3,9454%7515650328224565736294
668TALBOTS INC$1,2917%5967365034298473319803
669BORDERS GROUP INC MI$2,9996%6287062998429767833
686PHAR MOR INC$1,2921%91540356870564229488
695MCKESSON HBOC INC$36,7340%9363833031269839735316
698RADIOSHACK CORP$4,7958%4898675926203392518836
700CVS CORP$20,0883%7885751115123478028502
713AMERICAN CRYSTAL SUGAR CO$7317%5928071428236298115908
719GOOD GUYS INC$861-2%96832271876656726581
721FINLAY ENTERPR. INC$9134%7586458198319856854
729OFFICEMAX INC$5,1562%85355497988387649139
735AMES DEPT STORES INC$3,8370%9344641314384135313
737DRUG EMPORIUM INC$9051%90151463981476530429
739PETSMART INC$2,1100%930484341095471225609
740RITE AID CORP$13,3391%88952475436481731405
747VALUE CITY DEPARTMENT STORES INC$1,6703%80364580210292734356
753J C PENNEY CO INC$32,5104%7646962441399478643205
759LINENS N THINGS INC$1,5733%82963568768295041231
760FRED S INC$6661%88157509654383929478
767HOMEBASE INC$1,5253%81465589662382625590
777UNITED AUTO GROUP INC$4,8841%891585191411374834992
787TECH DATA CORP$16,9920%9525045448499838041223
788GART SPORTS CO$6812%8476659443329627049
797DUANE READE INC$1,0002%8636458217139477523661
810SONIC AUTOMOTIVE INC$6,0521%8856457798765664994
821KOHL S CORP$4,5572%8377264532280477222709
825DAISYTEK INTER- NATIONAL CORP$1,0600%9425952557624837037278
830AGWAY INC$1,4272%85771636667541029327538
842CASUAL MALE CORP MA$6651%88373655657297238274
847WICKES INC$1,085-1%9615952636327746819816
856SPIEGEL INC$3,4282%8398272410095048127831
858GUITAR CENTER INC$7861%89275679990388728508
860TIFFANY & CO$1,66810%40512592729243199543198
873TRACTOR SUPPLY CO$7591%90977691432392034349
875SPORTS AUTHORITY INC$1,493-2%9696256212102384734361
880FLOORING AMERICA INC$763-2%9776053440377742516879
887HAVERTY FURNITURE COS INC$6818%507122917109967481341227
892DILLARD S INC$8,9217%60811589654586391431402
894BON TON STORES INC$7111%8978474716131294935337
895SERVICE MERCH- ANDISE CO INC$2,2310%95176681434389228494
900RUSH ENTERPR. INC$8080%949786971512056835991
907LITHIA MOTORS INC$1,2432%8699280687948104995
918STAGE STORES INC$1,1221%9149381219152389823660
928POMEROY COMPUTER RESOURCES INC$757-3%98180715849001521027553
947HEILIG MEYERS CO$2,0382%84112090873831383529490
957RENT A CENTER INC NEW$1,5964%77313794612099916881
964SEARS ROEBUCK & CO$40,9378%51616597619499656287735
972O REILLY AUTOMOTIVE INC$8900%92712893314118198833371
979RDO EQUIPMENT CO$6896%6351779833734029575990
982CSK AUTO CORP$1,231-2%98013694419158199248153
984ELDER BEERMAN STORES CORP$667-2%97614895983893390128509
622Industry Average$7,4614% 55 23 6 34 



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