Leading Retailer Plans Chain-wide Implementation of Software Solution to Inform Promotional and Other Pricing Decisions
BOSTON, Oct. 29 -- ProfitLogic, leader in Retail Merchandise Optimization solutions, today announced that Old Navy, a wholly owned subsidiary of Gap Inc. (NYSE: GPS - News), will implement its Pricing4Profit(TM) software. The company intends to use Pricing4Profit to help make promotional and other pricing decisions across all products and categories in its more than 800 Old Navy stores in the United States and Canada.
"We chose ProfitLogic because we believe they can quickly implement an easy-to-use solution," said Lee Bird, senior vice president of finance and store operations at Old Navy. "We believe that Pricing4Profit will allow us to better analyze customer demand and make more strategic pricing decisions."
Pricing4Profit is designed to provide Old Navy`s merchants with access to product-specific information and scenario planning tools to determine optimal pricing and sell-through. ProfitLogic`s system will also help Old Navy target other promotional pricing actions. In addition to handling manual number crunching, Pricing4Profit provides analysis of demand, giving merchants the power and control they need to optimize pricing decisions.
"Visionary retailers are equipping their merchandising organizations with tools to gain more visibility into store-level demand and more control over store-level inventories," said Tom Ebling, chairman and CEO of ProfitLogic. "We look forward to providing Old Navy with tools that offer greater insight into store performance and pricing decisions."
ProfitLogic offers scalable, next-generation Retail Merchandise Optimization (RMO) solutions that cater to the SKU-intensive needs of retailers whose top priority is getting the highest return on inventory investments. Pricing4Profit, ProfitLogic`s flagship Markdown Optimization solution, is currently being used enterprise-wide at several leading hard and softline retailers. Two other products in the Merchandising4Profit(TM) suite, Buying4Profit(TM) and Allocating4Profit(TM), are currently being implemented at a Fortune 50 retailer. Together, these applications are the industry`s first comprehensive and integrated solutions that help retailers make optimized decisions for the entire lifecycle of their merchandise.
About Old Navy
Old Navy makes shopping fun and fashion affordable for the whole family. The stores sell everything from the best in denim, khakis and graphic tees to casual clothing for work and play. Be sure to check out the Old Navy Item of the Week -- each and every week, a special item at a special price. With new products arriving in stores frequently, customers can always find great clothes at great prices for adults, kids and baby. Launched in 1994, Old Navy now has more than 845 locations in the United States and Canada, including flagships in San Francisco, Manhattan, Chicago and Seattle. In the U.S., customers can also shop around the clock at oldnavy.com.
ProfitLogic`s suite of Retail Merchandise Optimization solutions helps merchants make more profitable merchandising decisions by using intelligent tools that streamline and simplify the complex tasks of assortment planning, allocating, and promotional pricing. ProfitLogic`s customers, JC Penney, Casual Male, Meijer Stores and Northern Group have achieved quick ROI, increased gross margins, accelerated inventory productivity, and improvement in financial performance. For more information about Cambridge, Mass.-based ProfitLogic, call 617-218-1900 or visit www.profitlogic.com.