Retailers who understand the benefits of end-to-end retail solutions choose Retek
Minneapolis - June 25, 2001 ¾ Retek Inc. (NASDAQ:RETK), the leading provider of solutions that help the retail industry create, manage and fulfill consumer demand, has enjoyed explosive customer success during the first six months of 2001, despite a tight economic retail market.
“Retailers know that Retek helps optimize current processes, creating an information infrastructure to support business goals, such as decreasing returns and perfecting replenishment,” said Retek Chairman and CEO, John Buchanan. “During slow economic times, increasing production and speed-to-market often work against retailers, but optimizing the retail experience to ensure that customers receive the right products at the right time and right price allows retailers to cut costs by optimizing production, not increasing it.”
Grocery Customers Optimize Supply Chain to Maintain Margins
Retek is working with top grocers in the U.S and U.K. to help optimize grocery supply chain processes. With tight margins, grocers must run at peak performance or risk losing millions with wasted product. Both The Kroger Company, the largest U.S grocery chain, J. Sainsbury PLC, Britain`s longest standing grocery chain, are working with Retek to lower operating costs through improved inventory management.
“As a $25 billion retailer with more than 440 stores in the U.K., it is essential that we have high data integrity throughout our organization,” said Martin Webb, Sainsbury. “This new solution provides a scalable foundation that will drive improvements in our planning, forecasting and replenishment activities. Retek has proven to be the leader in retail solutions, particularly in the unique environment of the grocery marketplace. Partnering with Retek is one of the first steps to upgrade our systems, and we expect to yield major benefits over the coming years.”
Retailers Rally Around Retek Logistics & Merchandising
Fashion and other non-food retailers must make the most of the customer shopping experience by offering a custom experience based on consumer demand.
Tony Hyett, director of supply chain management, Wilsons Leather says, "In the fashion business managing lead times to get the right product to the right location at the right time, as efficiently as possible, is extremely important. We performed an extensive evaluation of the leading solutions in the market and selected Retek. Retek`s functionality and capability to extend beyond the four walls of the distribution center, providing merchandise visibility and control throughout Wilson`s supply chain, are key differentiators."
Other notable retailers who have either selected or gone live with Retek logistics and merchandising solutions during the first six months of 2001 include Gap, Barnes & Noble, Clarks, Jungle.com, WHSmith, Selfridges and Tesco.
Retek Poised for Retail CRM Growth
According to a recent report by industry research firm Gartner Group , the retail industry is in the early stages of CRM adoption as a key business strategy. The vast majority of retailers are assessing the feasibility of these solutions and evaluating products and vendors.
Retek is the only retail solutions company with a retail-specific CRM solution designed to integrate with other business systems, allowing retailers to work with the systems they have in place, integrating critical customer information with CRM systems. Retek’s current Retail CRM customers include world-class companies such as Tosco and Jungle.com. Retek expects to announce new wins in this solution group in the coming weeks.
About Retek Inc.
Retek Inc. is a leading provider of software solutions and services to the retail industry. Retek’s collaborative solutions help the retail industry create, manage and fulfill consumer demand. Many of the world’s leading retailers use Retek solutions, including A&P;, Tesco, Best Buy, Family Dollar Stores, Eckerd Corp., Kohl’s Department Stores, and The Home Shopping Network. For more information, visit http://www.retek.com/, or call 1-888-61-RETEK. Retek can be contacted in Europe at +44 20 7563 4646.
Retek and retail.com are trademarks of Retek Inc. Other names may be trademarks of their respective owners. Forward-looking statements contained in this press release are made under the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. Such factors are described from time to time in the company`s Annual Report on Form 10-K and other reports filed with the Securities and Exchange Commission.