Edge Retail Academy Announces Annual Award Winner
Lonnie Iannazzo of Vincent Anthony Jewelers is the 2022 William (Wag) Wagner Business Excellence Award recipient.
The 2022 William (Wag) Wagner Business Excellence Award recipient is Lonnie Iannazzo of Vincent Anthony Jewelers in Tulsa, Oklahoma.
Now in its fifth year, the award is handed out to one ERA client that has shown the most impressive growth in a 12-month period. Last year, Petite G Jewelers received the honor.
The award was created to honor ERA business advisor William “Wag” Wagner, who died in 2018.
ERA President David Brown explained why Vincent Anthony Jewelers was deserving of the award for its 2022 performance, saying, “The Vincent Anthony team identified opportunities and developed strategies with their Edge Retail Academy business advisor that allowed them to increase sales by 16 percent, raise gross profit by 21 percent, and even increase gross margin by 2 percent.”
Iannazzo said the company worked with their ERA advisor Charleen Pfaff on product turnover to help their bottom line.
Pfaff said, “Vincent Anthony focused on inventory management; the store reduced its aged inventory by nearly 50 percent, which freed up significant cash flow to buy fast-sellers.”
Iannazzo received a check for $1,000 in addition to the award.
The Edge Retail Academy is a jewelry business advisory service that utilizes data to improve sales and profitability.
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