CEO BRIEF · ONE PAGE
Fenwick & Hale Mercantile
April 2026 · Retail
Composed from the reviewed close. Same facts as the management report — one page.
What happened
- 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.
The numbers
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
What to expect
Cash $620,000 today → $295,940 in week 13; the lowest point is $201,203 in week 6. No cash-floor breach inside the horizon.
What needs your decision
· 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. — You · 05 Jun