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Two Minute Tips
Chapter 12: Retail Quiz
Test your knowledge of the retail chapter material!
1 / 10
Where can you find the release date schedule of the commerce department's monthly sales reports?
The answer can be found on page 132.
Correct! The data in these reports include a much broader range of retailers than same-store sales. It also measures sales at all stores (net sales), not just those open at least a year (same-store sales).
2 / 10
The retail beat is often combined with coverage on commercial real estate.
The answer can be found on page 131.
That's right! Commercial developers seek to build successful shopping centers, so they must understand retailers and stay on top of the latest store formats and popular brands. They tend to have the scoop on new stores coming to town and which ones may be leaving.
3 / 10
What does the Retail Industry Leaders Association focus on?
The answer can be found on page 130.
You got it! This group was a significant player in the national health-care debate in 2012-14 and has also weighed in on online sales tax collection.
4 / 10
Which one of these organizations is not one of the three retail trade groups suggested in the chapter?
Super star! That is correct!
5 / 10
What might be your first tip that a major retailer in your area will be closing a store?
The answer can be found on page 128.
That's right! This notice is filed with your state's unemployment office 60 days before a store shuts down.
6 / 10
Holiday stories are always about what is new and different from previous seasons.
The answer can be found on page 129.
That's right! Holiday stories should be about what's interesting. While that may be about what is new and different this year, sometimes readers also want to read about something familiar they find interesting, such as the confectioner's process of making chocolates for Valentine's Day.
7 / 10
What does SKU stand for?
The answer can be found on page 135.
Correct! This refers to the code used to identify each type of product in a store. For example, all of the Honey Nut Cheerios will have one SKU, while the Multigrain Cheerios will have a different SKU. The number of SKUs in a store can give you an idea of the diversity of products it carries.
8 / 10
Which one of these is not one of the common retail themes you will likely cover on this beat listed in the chapter?
This answer can be found on pages 127-129
Correct! Chances are any story you cover on the retail beat will fit into one of these five themes: Trends, holidays, store openings, store closings, and new technology.
9 / 10
Same-store sales measure the amount of sales that month for stores that have been open for any length of time.
The answer can be found on page 133.
Correct! Same-store or comparable-store sales measure the amount of sales that month only at stores that have been open for at least a year.
10 / 10
When is Super Saturday?
Correct! This is a contender for the biggest shopping day of the year along with Black Friday.
Your score is
The average score is 45%
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