What is 'retail operations'?

Store operations is exactly what it is: operating and overseeing all the functions of the store from setting up shop, deciding what type of store you want, what products you want to sell, deciding on what type of customers you are trying to attract into your store (young, old, fat, skinny, thrifty or extravagant), then ordering the products, hiring personnel, pricing the products, deciding on a location, taking an inventory, advertising the products, etc... and it would be categorized as a "business".