Define profit margin and its significance in retail business. List down the options available to a retailer for improving profit margin of the store.

Profit margin refers to the percentage of revenue that exceeds the costs of goods sold (COGS) and other operational expenses in a business. It is a key financial metric used to assess the profitability and efficiency of a retail business. In retail, profit margin helps determine how much of the sales revenue is retained as profit after covering all costs. A higher profit margin signifies that the retailer is able to efficiently manage costs and generate substantial profit from sales, which is essential for sustaining and growing the business.

The significance of profit margin in retail business lies in its ability to reflect the overall health and sustainability of the store. A positive and consistent profit margin indicates that the _________ __________ __________ ____ ________ _________ _________ _____ _______ ______ _______.
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