Monthly management report
Fenwick & Hale Mercantile
Inventory turns slipped to 4.9x from 5.4x annualized — the early summer assortment landed ahead of the season and DIO rose to 74 days, tying up ~$140K of cash in stock that won't sell through until the June promotional window.
01 · Executive summary
Three conclusions, and the decisions they imply
- Inventory turns slipped to 4.9x from 5.4x annualized — the early summer assortment landed ahead of the season and DIO rose to 74 days, tying up ~$140K of cash in stock that won't sell through until the June promotional window.
- Gross margin eased to 44% from 46% — clearance markdowns on the carryover winter SKUs ran deeper than planned. The worker called it a one-time clean-out; the supervisor flagged a buying-depth pattern on seasonal lines, so it routed to your inbox.
- Transactions held at 18,600 vs the 18,100 plan — the loyalty relaunch lifted repeat visit frequency and the third location's ramp added ~500 transactions without cannibalizing the flagship.
Scorecard
Scorecard
Cash status
Cash-positive
Revenue
$1,040,000
+$26,000 · +2.6% vs plan
Monthly outflow
$962,000
+$22,000 · +2.3% vs plan
Gross margin
44.0%
DSO / DPO (days)
6 / 41
P&L summary — vs prior month, last year and plan
P&L summary — vs prior month, last year and plan
Month over month — vs prior period — Apr 26 vs Mar 26
| Line | Apr 26 | Mar 26 | Δ | Δ% |
|---|---|---|---|---|
| Revenue | $1,040,000 | $972,225 | +$67,775 | +7.0% |
| Cost of revenue | $582,400 | $544,446 | +$37,954 | +7.0% |
| Gross profit | $457,600 | $427,779 | +$29,821 | +7.0% |
| Operating expense | $379,600 | $376,224 | +$3,376 | +0.9% |
| Operating profit/(loss) | $78,000 | $51,555 | +$26,445 | +51.3% |
| Ending cash | $620,000 | $542,000 | +$78,000 | +14.4% |
Year over year — same month last year — Apr 26 vs Apr 25
| Line | Apr 26 | Apr 25 | Δ | Δ% |
|---|---|---|---|---|
| Revenue | $1,040,000 | $756,099 | +$283,902 | +37.5% |
| Cost of revenue | $582,400 | $423,415 | +$158,985 | +37.5% |
| Gross profit | $457,600 | $332,683 | +$124,917 | +37.5% |
| Operating expense | $379,600 | $341,008 | +$38,592 | +11.3% |
| Operating profit/(loss) | $78,000 | -$8,325 | +$86,325 | +1037.0% |
| Ending cash | $620,000 | $412,463 | +$207,537 | +50.3% |
Next month forecast $1,068,000
Trends
Monthly revenue — last 14 closed months
Mar 25 — Apr 26 · $600,801 … $1,140,884
Ending cash at each month close
Mar 25 — Apr 26 · $350,593 … $620,000
03 · Cash & working capital
Cash & working capital
Opening cash $542,000 net for the month +$78,000 closing cash $620,000
$620,000 today → $295,940 in week 13 · lowest point $201,203 (week 6) · no cash-floor breach
View weekly schedule
| Week | Opening | Receipts | Disbursements | Ending |
|---|---|---|---|---|
| 1 | $620,000 | $240,185 | $309,984 | $550,201 |
| 2 | $550,201 | $240,185 | $309,984 | $480,401 |
| 3 | $480,401 | $240,185 | $309,984 | $410,602 |
| 4 | $410,602 | $240,185 | $309,984 | $340,802 |
| 5 | $340,802 | $240,185 | $309,984 | $271,003 |
| 6 | $271,003 | $240,185 | $309,984 | $201,203 |
| 7 | $201,203 | $240,185 | $226,651 | $214,737 |
| 8 | $214,737 | $240,185 | $226,651 | $228,271 |
| 9 | $228,271 | $240,185 | $226,651 | $241,805 |
| 10 | $241,805 | $240,185 | $226,651 | $255,339 |
| 11 | $255,339 | $240,185 | $226,651 | $268,872 |
| 12 | $268,872 | $240,185 | $226,651 | $282,406 |
| 13 | $282,406 | $240,185 | $226,651 | $295,940 |
What changed and why
What changed and why
Inventory turns slipped to 4.9x from 5.4x annualized — the early summer assortment landed ahead of the season and DIO rose to 74 days, tying up ~$140K of cash in stock that won't sell through until the June promotional window.
✓ second model confirmed · General ledger · Inventory · Apr 2026 · QuickBooks · Receiving Summer · April
Gross margin eased to 44% from 46% — clearance markdowns on the carryover winter SKUs ran deeper than planned. The worker called it a one-time clean-out; the supervisor flagged a buying-depth pattern on seasonal lines, so it routed to your inbox.
second model disagrees — review · General ledger · Markdowns · Apr 2026 · QuickBooks · Clearance · April
Transactions held at 18,600 vs the 18,100 plan — the loyalty relaunch lifted repeat visit frequency and the third location's ramp added ~500 transactions without cannibalizing the flagship.
✓ second model confirmed · General ledger · Sales · Apr 2026 · QuickBooks · Pos Traffic · April
04 · Decisions & follow-ups
Decisions & follow-ups
Inventory turns slipped to 4.9x from 5.4x annualized — the early summer assortment landed ahead of the season and DIO rose to 74 days, tying up ~$140K of cash in stock that won't sell through until the June promotional window.
Open · outcome pending · You · Review by 05 Jun 2026
mark down the slow spring assortment and shift open-to-buy to the fast SKUs to lift turns off the seasonal low.
Reviewed · Hale Mercantile buying team · Review by 19 Jun 2026
Forecast reliability
Forecast reliability Inferred
Your revenue forecasts have run 7% optimistic over the last 6 months.
How we measure it: every past monthly forecast is scored against the month that actually closed — out-of-sample, never fit to the answer.
Sources & evidence
- General ledger · Inventory · Apr 2026
- QuickBooks · Receiving Summer · April
- General ledger · Markdowns · Apr 2026
- QuickBooks · Clearance · April
- General ledger · Sales · Apr 2026
- QuickBooks · Pos Traffic · April