Canadian Home Furnishing Retailer Driving Business Value In 6 Months with
Retek`s Mid-Market Offering
Minneapolis - April 30, 2002 -- Retek Inc. (Nasdaq: RETK) today announced
that Stokes, a Montreal-based home furnishings retailer with over 140 stores
across Canada, has implemented Retek`s Merchandising and Supply Chain
Management solutions. The solutions were implemented in less than six months
using Retek`s Mid-Market deployment offering. The Retek solutions replaced
legacy software systems that inhibited Stokes` sales growth and
profitability.
"We evaluated several options, but Retek had the best functionality," said
Jordan Shiveck, president of Stokes. "Our key issues such as replenishment
and supply chain management were all solved within Retek`s proven, scalable
infrastructure. The solutions have provided us faster access to critical
information, visibility into our supply chain and substantially improved
replenishment. We were very pleased with the rapid implementation which
translated into faster realization of business benefits."
Stokes legacy systems were significantly limiting its ability to effectively
manage inventory. Retek Merchandising and Supply Chain Management solutions
are helping Stokes improve inventory turns and improve customer
satisfaction. Stokes implemented these solutions in less than six months
using Retek`s Mid-Market deployment offering, which focuses on managing the
scope of the project and leveraging Retek`s embedded best business practices
as the rule in the implementation approach.
"The teamwork between Stokes and Peter Hora & Associates is a great example
of the speed to benefit that can be accomplished with Retek solutions," said
Joe Polonski, Retek`s Vice President of Merchandising Solutions. "By using a
simplified implementation approach, mid-sized retailers can gain access to
the best-in-class solutions provided by Retek."
Stokes` merchandising and supply chain initiatives were managed by Peter
Hora and Associates, a Retek implementation partner. Peter`s team was
instrumental in providing retail implementation project expertise and played
a key role in the success of the project. They leveraged Retek`s
architecture, powerful user interface and flexibility to quickly implement
the solution and deliver benefits immediately, without impacting day-to-day
operations. This was accomplished with a small IT support organization and
limited full-time user representatives on the project.
About Stokes
Stokes is a multi-divisional organization with 140 stores located from coast
to coast across Canada. They are primarily a house wares and tabletop chain
with stores ranging from 1500-5000 square feet. Stokes uses both domestic
and foreign Vendors and is extremely replenishment driven. Stokes has been
in business for over 50 years.
About Retek Inc.
Retek Inc. is a leading provider of software solutions and services to the
retail industry. Retek`s collaborative solutions help the retail industry
create, manage and fulfill consumer demand. The RIS News Leaderboard 2001
ranked Retek the #1 software vendor for retail. Retek`s offering, Retek 10,
encompasses Retek`s proven strategies, sophisticated software applications,
patented predictive technology, unparalleled services, and the best
practices of its customers and partners. Retek 10 provides retailers with
the fastest path to sustainable business value. Many of the world`s leading
retailers use Retek solutions, including A&P, Tesco, Best Buy, Family Dollar
Stores, Gap, Sainsbury`s, Eckerd Corp. and Kohl`s Department Stores. For
more information, visit http://www.retek.com, or call 1-888-61-RETEK. Retek
can be contacted in Europe at +44 20 7563 4646.
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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.
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