Harvey Electronics, Inc. Selects GERS Retail Systems
Upscale Audio/Video and Home Theater Retailer selects GERS Merchandising, Financials, Store Operations, POS and Analytics Solutions
SAN DIEGO, June 2, 2005 - GERS Retail Systems (“GERS”), a leading provider of enterprise software solutions for consumer-centric retailing, today announced that Harvey Electronics, Inc. (“Harvey” or “Harvey Electronics”), a leading retailer and custom installer of high quality audio, video, and home theater products, has engaged GERS to replace their management information systems with GERS’ integrated solutions. The GERS solutions to be implemented include Merchandising, Inventory, Financials, Store Operations & Point of Sale, as well as Analytics.
Franklin C. Karp, CEO and President of Harvey Electronics, stated, “We are excited about our partnership with GERS and their integrated solutions which will replace our legacy applications in the store, home office, and warehouse. Approximately sixty percent of Harvey’s business is currently related to custom installations. As a result, we require a solution which not only exceeds traditional box-mover solutions but is also tailored to our specific requirements. We believe that GERS will provide better customer service and ease of use in the stores, automate certain of our manual processes, provide strong inventory management, and deliver robust reporting and analysis.”
Mr. Karp further stated, “GERS and Harvey are jointly developing a job order costing module that not only is expected to validate the profitability of our complex installation projects, but is expected to enable us to increase the productivity and profitability of our installers. The GERS solution will also be integrated with D-Tools’ system design software, which facilitates the process of creating custom designs and provides customers with professional engagement proposals.”
Joseph J. Calabrese, Executive Vice President & Chief Financial Officer of Harvey Electronics, stated, “Integration with D-Tools and job order costing was significant in selecting our technology partner. GERS demonstrated significant knowledge of our business and proposed a detailed design plan for this integration and implementation. Harvey is a public company and its technology partnership with GERS is quite important on many levels. It is anticipated that the successful results of this relationship will have a significant impact on our business for years to come.”
“We are excited that Harvey Electronics has selected GERS as their technology solution partner,” said Phil Kenney, Vice President of Products and Marketing for GERS Retail Systems. “By working with Harvey’s to deliver our integrated solution of the GERS suite, D-Tools design and quoting system, and our new Job Order Costing module, we clearly will offer Harvey’s and the CE industry a compelling solution that enhances services offered by retailers across the industry.”
About Harvey Electronics, Inc.
Harvey Electronics is a leading retailer and custom installer of high quality, exclusive home theater, audio and video products. Harvey currently has eight locations in the Metropolitan New York area. Its ninth store is under construction in Bridgewater, New Jersey and is expected to open in June 2005. Harvey is a publicly traded company listed on the Nasdaq SmallCap Market under symbol “HRVE” for its common stock. For more information about Harvey Electronics, please visit their website at www.harveyonline.com.
About GERS Retail Systems
GERS Retail Systems is a leading supplier of software solutions for consumer-centric retailing. By facilitating the real-time flow of transactions and information across the entire retail organization, our solutions enable retailers to consistently anticipate, understand and fulfill their customer’s expectations for products that are priced, located and timed to provide the optimal shopping experience. GERS solutions manage the merchandising life cycle, multi-channel selling, planning, business intelligence and supply chain synchronization to create a great customer experience. For more information, please visit www.gers.com.
Certain statements made by Harvey Electronics herein may include forward-looking statements and not historical facts. Forward-looking statements can be identified by the use of words such as “believe”, “expect”, “intend”, “anticipate”, “in my opinion”, and similar words or variations. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based upon specific assumptions that may or may not prove correct. Therefore, actual future results may differ significantly from those stated in any forward-looking statements contained herein. Forward-looking statements involve a number of risks and uncertainties, including, but not limited to, product demand, pricing, market acceptance, litigation, risks in product and technology development and other risk factors detailed in Harvey’s Prospectus dated March 31, 1998 and from time to time in Harvey’s Securities and Exchange Commission reports, including its Form 10-K and Forms 10-Q.
CONTACTS:
GERS Retail Systems
Laura Weinhofer
Email: Lweinhofer@gers.com
800-854-2263 x2176
Harvey Electronics, Inc.
Franklin C. Karp, CEO/President,
Email: fkarp@harveyonline.com or
Joseph J. Calabrese, Executive Vice President & CFO
Email: jcalabrese@harveyonline.com
Tel. (201) 842-0078, Fax (201) 842-0660
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