IRVING, Texas – May 31, 2006 –Rite Aid Corporation, a leading U.S. drugstore chain operating approximately 3,320 stores in 27 states, has implemented the Retail Performance Modeling (RPM) technology from Prediction Analytics, an Experian company, to help accurately predict store sales and select the best new Rite Aid locations.
Rite Aid, founded in 1962 and headquartered in Camp Hill, Pa., is a convenience-driven pharmacy that provides a wide array of products including healthcare supplies, beauty aids, and convenience foods and products along with dispensing prescriptions. Rite Aid operates in diverse markets ranging from urban to rural, with a number of different store footprints and sizes. The company uses Prediction’s modeling technology to further enhance Rite Aid’s internal site-selection processes.
“Prediction’s system can run multiple models simultaneously, which gives us greater accuracy and allows our real estate field team to add data to reflect past experiences and our in-depth knowledge on specific sites,” said Karen Smith, vice president of real estate for Rite Aid. Retailers like Rite Aid use Prediction’s Web-based decision-support software to facilitate fast and accurate real estate decisions considering key variables such as accessibility, visibility and signalization along with customer demand and competitive position.
“During our work with Rite Aid, we have witnessed first-hand the companywide dedication that makes Rite Aid one of America’s leading retailers and developers,” said Mark Winters, president and CEO of Prediction Analytics. “We look forward to an ongoing relationship with Karen and her team as they continue to execute their retail expansion strategy.”
About Prediction Analytics
Recently acquired by Experian, a global information solutions company, Prediction Analytics helps retail, restaurant and real estate professionals forecast sales of new locations, and better understand how location factors influence store performance. Through Prediction’s software, research and consulting services, clients are able to improve forecast accuracy, resulting in better retail location and market planning decisions, which ultimately results in improved return on capital. Since 1977, Prediction`s team members have served as trusted advisors for leading companies around the world, evaluating well over 100,000 retail and restaurant locations. In the process, they have developed a uniquely effective approach to the most pressing retail performance challenges. Please visit Prediction Analytics’ Web site at www.predictionanalytics.com.
About Rite Aid Corporation
Rite Aid Corporation is one of the nation`s leading drugstore chains with annual revenues of $17.3 billion and approximately 3,320 stores in 27 states and the District of Columbia. Please visit Rite Aid Corporation’s Web site at www.riteaid.com.
Experian is the global leader in providing value-added information solutions to organizations and consumers. It has an unrivaled understanding of individuals, markets and economies around the world. Experian provides information, analytics, decision-making solutions and processing services. It assists organizations in understanding their markets and customers and helps them find, develop and manage profitable customer relationships to make their businesses more profitable. Experian promotes greater financial health and opportunity among consumers by enabling them to understand, manage and protect their personal information, helping them control financial aspects of key life events and make the most advantageous financial decisions. Experian works with more than 50,000 clients across diverse industries, including financial services, telecommunications, health care, insurance, retail and catalog, automotive, manufacturing, leisure, utilities, e-commerce, property and government. A subsidiary of GUS plc with headquarters in Nottingham, UK, and Costa Mesa, Calif., Experian employs 12,000 people in 31 countries who support clients in more than 60 countries. Annual sales exceed $2.5 billion.
For more information, visit the company’s Web site at www.experian.com. The word “Experian” is a registered trademark in the EU and other countries and is owned by Experian Ltd. and/or its associated companies.
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Jetstream PR for Prediction Analytics
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