TWEETER TO DEPLOY EVANT MERCHANDISE PLANNING
National Specialty Consumer Electronics Retailer to Leverage Evant Solution to Optimize Store Assortments
New York – NRF Conference - January 13, 2003 – Evant, a leading provider of retail planning and demand chain management software, today announced that Tweeter Home Entertainment Group (Nasdaq: TWTR) has selected Evant Merchandise Planning to streamline its merchandising and demand chain operations, which support 174 stores in 21 states across the country.
Tweeter, a specialty retailer of mid- to high-end audio and video solutions for the home and car that operates under the retail names of Tweeter, HiFi Buys, Sound Advice, Bang & Olufsen, Electronic Interiors, Showcase Home Entertainment, and Hillcrest High Fidelity, plans to deploy the Evant Merchandise Planning solution in the second quarter of 2004. With Evant Merchandise Planning, Tweeter will establish a next-generation planning process to enable its merchants to control inventory via open-to-buy, and respond more rapidly to changing inventory needs.
"Our company has made great strides in reducing inventory within our supply chain over the past year," said Bill Morrison, CIO for Tweeter Home Entertainment Group. "We believe Evant Merchandise Planning will be an important tool that will help us optimize our store-level merchandise plans for key items within our audio, video and mobile electronics departments."
"We are excited to be in partnership with Tweeter, as the company is well known in the industry for its ability to deploy the newest technologies that create significant operational efficiencies," said Terry Turner, vice president of worldwide field operations for Evant. "Not only will Evant Merchandise Planning help Tweeter streamline its merchandising processes, but it will also help the company enhance the overall customer experience in the store."
About Evant Merchandise Planning
Evant Merchandise Planning is the first solution on the market that allows collaborative planning by channel and across channels. It is the only offering that supports five-dimensional planning -- by channel, time, product, measure and vendor. Evant Merchandise Planning is designed to meet the complete range of merchandise management processes for online, catalog and store sales channels. Organizations deploying Evant`s technology can plan thousands of products across multi-channel environments without taking performance hits.
About Tweeter Home Entertainment Group, Inc.
Tweeter Home Entertainment Group, Inc. (Nasdaq: TWTR - news) was founded in 1972 by current Chairman Sandy Bloomberg. Based in Canton, Massachusetts, the company is a national specialty consumer electronics retailer providing audio and video solutions for the home and car. Tweeter has the expertise to explain it all, deliver it all, and install it all so that its customers can "Just Sit Back and Enjoy". The company`s fiscal 2003 revenues were $797 million. Tweeter Home Entertainment Group, Inc. now operates 174 stores under the Tweeter, HiFi Buys, Sound Advice, Bang & Olufsen, Electronic Interiors, Showcase Home Entertainment and Hillcrest High Fidelity names in the New England, Texas, Southern California, Mid-Atlantic, Chicago, Southeast, Florida and Phoenix markets. The company employs more than 3,600 associates. Further information on the Tweeter Home Entertainment Group can be found on the company`s web sites at www.twtr.com and www.tweeter.com.
About Evant, Inc.
Evant is leading the world’s top multi-channel retailers, wholesalers and distributors into the new technological age by providing merchandising and replenishment software that frees up millions of dollars in working capital and enables greater competitive advantage. Clients such as Staples, O’Reilly Automotive, United Stationers, Camping World and AmerisourceBergen choose Evant for its best-of-breed solutions that are based on the industry’s most advanced science that are delivered on a the IBM iSeries and J2EE platforms. The company is privately held and is headquartered in San Francisco, with operations in Atlanta and London. For more information, visit www.evant.com.
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