Leading UK-based Shoe Retailer to Use MicroStrategy 7 to Develop Sophisticated Sales and Inventory Analysis for its 330 Outlets
LONDON, November 19, 2001 – MicroStrategy® Incorporated (NASDAQ: MSTR), a leading worldwide provider of business intelligence software, today announced that Faith Shoes, one of UK’s largest retailer of women’s shoes, has selected the MicroStrategy Business Intelligence Platform™ to track its key business parameters to ensure rapid response to customer needs. Faith Shoes will deploy the MicroStrategy 7™ platform to provide users at its 330 outlets with sophisticated sales performance and inventory analysis capabilities.
As one of the UK’s leading shoe manufacturers and retailers, the company saw the need to enhance its sales and inventory tracking processes and hence improve its overall business operations, to better react to market trends. The company selected MicroStrategy because of its proven experience in the retail sector.
“Right from the start, MicroStrategy demonstrated a clear understanding of our business needs,” said, Lionel Stock, Head of Finance at Faith Shoes. “We need to have quick and accurate insight into sales trends and supply chain efficiency to rapidly modify pricing and promotion strategies. This knowledge, coupled with its scalable, reliable platform, left us with an easy decision to make.”
“As competition gets more aggressive, retail organizations like Faith Shoes need to work harder to generate revenues,” said Bob Skeens, country manager of MicroStrategy UK. “For retailers, this means it is necessary to collect large volumes of data to analyze trends and performance, making efficient management of the enterprise more challenging than ever before. MicroStrategy’s business intelligence platform offers a rich set of analytical functionality that automates this process allowing Faith Shoes to refine its focus on achieving its business objectives.” In the future, Faith Shoes plans to extend the MicroStrategy deployment to analyze its supply chain processes as well as customer behavior.
About Faith Shoes
In 1964 Samuel Faith founded Faith Shoes, which has grown into a chain of over 300 stores, including stand-alone and concessions trading within Topshop, Debenhams, Allders and Dorothy Perkins, nationwide. Combining a blend of inspirational style and affordability, the Faith experience is enhanced by a dedicated approach to customer services. From small beginnings, the company`s vision has brought it successfully into the new millennium. Its achievements have been officially recognised with prestigious awards including the UK Footwear awards for “Best Women`s Shoe Retailer”, Company`s “She`s Gotta Have it” High Street Awards for “Best Footwear” and Cosmopolitan’s “Fab” Fashion and Beauty awards for “Favourite Shoe Retailer.”
Faith has ambitious plans to continue its expansion in the coming years. Supporting this activity requires leading edge information systems, in the outlets, distribution centre and administrative offices. MicroStrategy will play a key role in ensuring that the vast amount of data generated by the business is transformed into accurate, appropriate and timely information, improving our service to our staff, managers, and most of all, our customers.
About MicroStrategy Incorporated.
Leadership in a Critical Market: Founded in 1989, MicroStrategy is a worldwide leader in the critical business intelligence software market. Large and small companies alike are harnessing MicroStrategy’s business intelligence software to gain vital insights from their data to help them proactively enhance cost-efficiency, productivity and customer relations and optimize revenue-generating strategies. MicroStrategy`s business intelligence platform offers exceptional capabilities that provide organizations -- in virtually all facets of their operations -- with user-friendly solutions to their data query, reporting, and advanced analytical needs, and distributes valuable insight on this data to users via Web, wireless, and voice. PC Magazine recently selected MicroStrategy 7™ as the 2001 “Editors` Choice” for business intelligence software.
Built for the Internet: MicroStrategy 7 is the Scalable Business Intelligence Platform Built for the Internet™. Its pure-Web architecture provides Web reporting, security, performance and standards that are critical for Web deployment. Within intranets, MicroStrategy`s products provide employees with information to enable them to make better, more cost-effective business decisions. In extranets, enterprises can use MicroStrategy 7 to build stronger relationships by linking customers and suppliers via the Internet.
Diverse Customer Base: MicroStrategy`s customer base cuts across industry and sector lines, with approximately 1,400 enterprise-class customers, including Lowe`s Home Improvement Warehouse, AT&T; Wireless Group, Wachovia and GlaxoSmithKline. MicroStrategy also has relationships with over 400 systems integrators and application development and platform partners, including IBM, PeopleSoft, Compaq, Informatica and JD Edwards.
MicroStrategy is listed on Nasdaq under the symbol MSTR. For more information on the company, or to purchase or demo MicroStrategy`s software, please visit MicroStrategy`s Web site at http://www.microstrategy.com.
MicroStrategy, MicroStrategy 7, MicroStrategy Business Intelligence Platform, Scalable Business Intelligence Platform Built for the Internet are either trademarks or registered trademarks of MicroStrategy Incorporated in the United States and certain other countries. Other product and company names mentioned herein may be the trademarks of their respective owners.
This press release may include statements that may constitute "forward-looking statements," including its estimates of future business prospects or financial results and statements containing the words "believe," "estimate," "project," "expect" or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results of MicroStrategy Incorporated and its subsidiaries (collectively, the "Company") to differ materially from the forward-looking statements. Factors that could contribute to such differences include: the possibility that the conditions to the securities class action and shareholder derivative settlement agreements will not be satisfied; the Company’s ability to secure financing for its current operations and long-term plans on acceptable terms; the ability of the Company to implement and achieve widespread customer acceptance of its MicroStrategy 7 software on a timely basis; the Company’s ability to recognize deferred revenue through delivery of products or satisfactory performance of services; continued acceptance of the Company’s products in the marketplace; the timing of significant orders; delays in the Company’s ability to develop or ship new products; market acceptance of new products; competitive factors; general economic conditions; currency fluctuations and other risks detailed in the Company’s registration statements and periodic reports filed with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
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