Longs Drug Stores Selects Retek 10
Leading Drug Store Chain Utilizes Retek® Solutions to Improve Supply Chain Processes and Front-End Merchandising Performance
Mar 20, 2002
Minneapolis — March 20, 2002 -Retek Inc. (NASDAQ:RETK) announced today that Longs Drug Stores Corporation (NYSE:LDG) has selected Retek 10, an integrated, modular retail solution, to improve productivity and efficiency across its retail operations.
Longs is one of the leading drug store chains in the United States, with more than 430 stores and annual sales in excess of $4 billion. The company has grown its business in part by generating strong customer loyalty through decentralized merchandising operations. Store managers` input in the product selection process has been the company`s greatest competitive differentiator, allowing each store to cater to local consumer demand. Utilizing Retek as its technology partner, Longs has the central procurement capabilities it needs and the flexibility of enabling full participation of local managers in that process.
Longs will implement a range of Retek 10 solutions over time, including supply chain management and merchandising management. The initial focus will be on improving supply chain efficiency with more accurate inventory information.
LOCAL MARKET FOCUS
“Longs has a successful history serving the unique needs of our communities,” said Martin Bennett, Longs` senior vice president responsible for supply chain management. “Retek 10 will allow us to continue to satisfy our customers and more effectively manage our operations through tighter inventory controls, improved leverage with our vendors on product cost, greater accountability for our buying decisions and better in-stock positions." Brian Kilcourse, senior vice president and CIO of Longs commented, "We selected Retek 10 because it offered the best functional capabilities, and an integrated infrastructure built on leading edge technology that is consistent with our company vision.”
MODULAR ARCHITECTURE
“The Retek 10 modular architecture will enable Longs to generate incremental benefits throughout the implementation process, and provide them a solid platform for improved company-wide performance,” said Steve Ladwig, president and CEO, Retek. “This is another example of the strong momentum Retek has recently experienced with Tier 1 food and drug retailers. We are committed to help Longs satisfy localized consumer demand and increase their business performance.
About Longs Drug Stores
Longs Drug Stores Corporation is one of the leading drug store chains in North America, with annual sales per store averaging approximately $10 million. Founded in 1938, Longs today operates 438 stores in California, Hawaii, Washington, Nevada, Colorado and Oregon. Longs focuses on meeting the specific health and well being needs of its communities with superior pharmacy service and convenient product offerings that include over the counter medications, photo and cosmetics. On-line prescription services, merchandise and health information are available at www.longs.com, and recently acquired RxAmerica provides pharmacy benefit management services for a growing list of clients.
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 www.retek.com, or call 1-888-61-RETEK. Retek can be contacted in Europe at +44 20 7563 4646
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