Retek Merchandising, Replenishment and Optimization Solutions to Power Army and Air Force Retail Operations
MINNEAPOLIS - January 29, 2004 - Retek Inc. (Nasdaq: RETK) announced today that the Army and Air Force Exchange Service (AAFES), has licensed Retek`s solution suite to upgrade its retail software infrastructure supporting its global operations. With annual sales of $7 billion, AAFES operates over 12,000 facilities worldwide, supporting 25 separate businesses in 35 countries and overseas areas, as well as in every state in the union.
AAFES will consolidate its legacy merchandising, replenishment and inventory planning systems with integrated Retek applications that improve inventory efficiency, price management and service levels. Retek`s integrated merchandising applications will provide AAFES a single, accurate source of sales and inventory information, resulting in improved decisions.
With an extremely large breadth of merchandise types, AAFES requires systems able to support the wide array of merchandise spanning fashion, hardlines, grocery and drug verticals. Retek applications have been designed by utilizing the best practices of leading retailers across all retail verticals worldwide.
Forecasting consumer demand can be extremely challenging for AAFES, as frequent unpredicted deployment or redeployment of armed forces dramatically impacts inventory requirements. Retek demand forecasting applications use advanced scientific technologies and promotional and causal factors to develop the most accurate consumer demand at levels as low as SKU/store/day.
"The unique retail environments of AAFES operations create the need for an integrated, scalable retail infrastructure with sophisticated predictive technology," said Marty Leestma, president and CEO at Retek. "We are delighted that AAFES selected Retek as its strategic retail software partner and look forward to helping improve their retail operations."
About Army and Air Force Exchange Service
The Army and Air Force Exchange Service (AAFES) not only touches the lives of active duty military, National Guard members, reservists, retirees and their families. It`s a military organization with a two-fold mission:
* To provide quality merchandise and services to soldiers, airmen and their families wherever they`re stationed around the world.
* To generate reasonable earnings to support Army and Air Force morale, welfare and recreation (MWR) programs.
AAFES operates over 12,000 facilities worldwide, supporting 25 separate businesses in 35 countries and overseas areas, as well as in every state in the union. These include 1,423 retail facilities and 218 military clothing stores on Army and Air Force installations around the world.
About Retek Inc.
Retek Inc. is the leading provider of mission-critical software and services to the retail industry. Retek solutions integrate 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 Tesco, Best Buy, Gap Inc., Sainsbury`s, Eckerd Corp. and Selfridges use Retek solutions. Visit Retek on the Web at www.retek.com.
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.