IRVINE, Calif.--Jan. 5, 2005--Island Pacific (AMEX:IPI) announced today that Five Below has signed an agreement with Retail Process Engineering, LLC (RPE) as their application service provider (ASP) of Island Pacific`s IPMS suite.
The Island Pacific ASP model is a powerful retail IT management program ideal for growing companies like Five Below. The IPMS software solutions will provide a comprehensive set of applications so Five Below will not incur the up-front costs of software licensing and maintenance fees, hardware and IT staff. RPE will provide all hardware, use of software with 24/7/365 application and operations management for one monthly fee per store.
"By offering an ASP model of IPMS, Island Pacific`s comprehensive merchandising solution, we are able to bring a product that has been the standard for mid-tier specialty retailers to smaller, `emerging` retailers, without the infrastructure and initial cost," said Mike Tomczak, President and Chief Operating Officer of Island Pacific. "This offering will allow IP to provide its merchandising application to a new category of customer, the emerging retailer; and also complements the Retail Pro distribution channel very well."
Five Below is a retailer in the business of offering trend-right products for teens, pre-teens and value-minded customers. The company has reinvented the traditional "five and dime" concept for today`s generation with all items ranging from $1 to $5.
"Without the upfront investment of a complete IT data center, staffing and hardware and software, the Island Pacific ASP application will allow Five Below to focus on the core business and concept expansion," said RPE`s President, Cliff Epstein. "We`re pleased to be part of this exciting retail concept that`s emerging as a new category within the specialty discount market."
About Five Below
Five Below offers a dynamic assortment of merchandise combined with quality in a vibrant and fun shopping environment targeted at teens and pre-teens. Thousands of products range from sporting goods, games and electronics to jewelry, room decor and seasonal items.
The concept was launched by David Schlessinger, creator and founder of Encore Books and Zany Brainy, and Tom Vellios, former CEO of Zany Brainy. Philadelphia-based Five Below is currently located in Pennsylvania, New Jersey, Delaware, Maryland and Virginia. For more information, visit www.fivebelow.com.
Retail Process Engineering, LLC (RPE) provides strategic IT consulting services, remote operations management, implementation, integration, modification and system upgrades for retailers worldwide. Areas of expertise include Island Pacific`s IPMS, E3, Arthur and JDA`s PMM and PMMS applications.
The company was founded in 1999 through a collaboration of retail executives identifying the need for a cost-effective and reliable information technology company specializing in the unique needs of retail.
The RPE headquarters and data center is located in Tampa, Florida, with project managers, program analysts and IT staff on site at retailers throughout the United States and Canada. A sampling of current clients includes Five Below, Dick`s Sporting Goods, Party City, Forzani Group and Ralph Lauren Polo. For more information, visit www.rpesolutions.com.
About Island Pacific
Island Pacific is a global leader in retail merchandising, store operations, CRM, and multi-channel software solutions. For more than 25 years, Island Pacific has developed a reputation for delivering high-quality, high-value, high-reliability software to the retail industry.
As a result, Island Pacific is the definitive resource for scalable, flexible and affordable solutions for retailers around the world. Incorporating the recently acquired Retail Technologies International (RTI) and Page Digital, Island Pacific serves over 9,000 retail clients in more than 70 countries. Represented in more than 55,000 stores worldwide and available in 15 languages, the company`s technology manages billions of transactions annually under the brand names of Island Pacific Merchandising System(TM) (IPMS), Retail Pro (R), Synaro(R), and Gladiator, and is the thought leader in multi-channel retailing.
The company is headquartered in Irvine, California, and has offices in the United States and the United Kingdom, and is represented by business partners in over 30 countries. For more information, please visit www.islandpacific.com and www.retailpro.com.
Certain statements contained in this news release regarding matters that are not historical facts are forward-looking statements. These statements relate to future events or the Company`s future performance. These statements are only predictions. Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the risk factors listed in the Company`s Form 10-KA for the fiscal year ended March 31, 2004 and other risk factors identified from time to time in the Company`s filings with the Securities and Exchange Commission. IPI undertakes no obligation to release publicly any revisions to the forward-looking statements to reflect events or circumstances after the date of this news release or to reflect the occurrence of unanticipated events.
Editor`s note: Contact Ron Both, Liolios Group, at 949-574-3860 for investor relations information. Contact Cliff Epstein, PRE, at 813-490-7000, Ext. 7300 for more information on RPE.
Island Pacific, Inc.
Danny Zeibert, 916.605.7200 (Media Relations)
Mike Tomczak, 949-399-3816 (Investor Relations)