Mid-Market Home Furnishings Retailer to Improve Operations with Retek Point-of-Sale, Retek Labor Management and Retek Store Inventory Management Applications
MINNEAPOLIS - March 11, 2003 - Retek Inc. (Nasdaq: RETK) today announced that The Bombay Company, Inc. (NYSE: BBA), a home furnishings retailer, has selected Retek Integrated Store Operations (ISO) solutions. Bombay will take advantage of Retek ISO applications including Retek Point-of-SaleTM (RPOS), Retek Labor Management (RLM) and Retek Store Inventory Management. These applications support improved in-store operations and customer service. The Bombay Company, with sales of $494 million in the year ended February 1, 2003, is a multi-channel retailer with 422 stores, plus catalog and Internet operations in the U.S. and internationally. The Retek ISO solutions will replace Bombay’s current POS and store inventory management solutions that do not provide the flexibility and integration necessary to enable real-time store operations or support The Bombay Company’s best business practices and growth plans.
"We selected Retek because its solutions offer rich functionality and are built with the most advanced technology," said Donna Arnold, vice president of information services at Bombay. "The integrated Java-based solutions are built on an open architecture, with a mature object model, that will allow us to make custom modifications while maintaining an upgrade path. We were impressed with how quickly these solutions have been implemented with other retailers and anticipate a very quick implementation."
The ISO Solution is a group of in-store operations applications that use and share common business logic, configuration utilities and technology infrastructure. The solution has three unique characteristics:
-Its features support a wide range of store functionality, including POS (point-of-sale), labor management, cash management and inventory management, all delivered through an extremely flexible and leading edge technology platform.
-It is faster to deploy and easy to use, reducing training time and implementation expense.
-The applications are proven to simplify store operations by improving customer service and decreasing costs.
"With the implementation of the Retek Java-based solutions, Bombay will be well positioned to provide superior customer service and efficiently grow its business," said Patrick Bohannon, Retek’s vice president mid-market operations. "The improved visibility to sales and inventory and easy-to-use store solutions will enhance their customers’ shopping experience. Retek Integrated Store Operations’ proven rapid implementation and successful operation at multiple retail clients reduces the risk and speeds the return on investment (ROI)."
About The Bombay Company
The Bombay Company, Inc. designs, sources and markets a unique line of home accessories, wall decor and furniture through over 422 retail outlets, specialty catalogs and the Internet (www.bombaycompany.com ) in the U.S. and internationally.
About Retek Inc.
Retek Inc. (Nasdaq:RETK) is the leading provider of mission-critical software and services to the retail industry. Retek 10 integrates collaborative software with patented predictive technologies, consulting services, and the best practices of customers and partners to help retailers create, manage and fulfill consumer demand. Leading global retailers including A&P;, Fast Retailing, Tesco, Best Buy, Family Dollar Stores, Gap Inc., Sainsbury`s, Eckerd Corp. and Kohl`s Department Stores use Retek solutions.
Retek is a trademark 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.