topcatny
Distinguished Member
- Joined
- Dec 14, 2004
- Messages
- 1,030
- Reaction score
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Ernest, The terms are interchangeable. Sorry I can't seem to get the formula written out correctly. I calculate markup so often it is like second nature but I rarely have to explain it. Good thing I don't teach
Markup is ...(Selling Price - Cost) / Selling price
I wrote the equation wrong.
Jon, I am not sure why the retailers you speak with talk about 100% markups, unless they are trying to explain it in terms people outside the business will understand. I will tell you I have worked for Macy's, Lord & Taylor, Liz Claiborne Inc and Calvin Klein Jeans and the term markup was always calculated this way.
Markup is ...(Selling Price - Cost) / Selling price
I wrote the equation wrong.
Jon, I am not sure why the retailers you speak with talk about 100% markups, unless they are trying to explain it in terms people outside the business will understand. I will tell you I have worked for Macy's, Lord & Taylor, Liz Claiborne Inc and Calvin Klein Jeans and the term markup was always calculated this way.