Burlington Coat Factory to Implement ProfitLogic’s Markdown Optimization Solution
National Everyday Low Price Retailer Looks to ProfitLogic to Better Manage Inventory
and Provide Customers with Fresher Merchandise In-Season
Boston, Mass. – April 26, 2005 – ProfitLogic, the industry-leading provider of Retail Profit Optimization solutions that deliver the highest return on retailers’ inventory investments, today announced that Burlington Coat Factory Warehouse Corporation (NYSE: BCF), a national apparel retailer, has selected ProfitLogic’s Markdown Optimization solution to use across the company’s more than 360 stores nationwide. ProfitLogic’s solution will help Burlington Coat Factory gain greater visibility into customer demand for improved in-season inventory management decisions. It will also enable the company to better cater to local market needs by transitioning from chain to regional pricing.
Because retail customers look for new arrivals during each visit to a store, retailers value the ability to quickly convert inventory in-season. ProfitLogic’s solution will enable Burlington Coat Factory to reach its goal of improved gross margin dollars and will enable merchants to gain better visibility into the performance of the merchandise in order to clear underperformers earlier in the season. The goal is to allow its merchants to buy newer or more in-demand items more quickly to better meet customer needs by freeing up open-to-buy dollars for additional merchandise.
“ProfitLogic’s Markdown Optimization solution will help us achieve our strategic business and operational goals. It represents a significant potential gross margin opportunity and will give us the ability to regionalize merchandise decisions with a sophisticated, analytic approach to in-season inventory management,” says Mark Nesci, Chief Operating Officer of Burlington Coat Factory. “As a result, we hope to allow our merchants to spend more time on strategic merchandising activities and less time on intensive data analysis.”
“We look forward to helping Burlington Coat Factory boost gross margin dollars by reducing inventory carry-over and eliminating unnecessary markdowns,” said Tom Ebling, Chairman and CEO of ProfitLogic. “We believe that ProfitLogic’s ability to provide quick ROI and immediate business value will make a significant impact on Burlington Coat Factory’s bottom line.”
ProfitLogic provides industry-leading Retail Profit Optimization solutions designed for retailers whose top priority is getting the highest return on inventory investments. ProfitLogic’s customers have found that using insight into future customer demand results in more profitable merchandising decisions and more time to focus on what matters most: the customers and the merchandise.
Contact:
Jakki Glivicky
ProfitLogic
617-621-5626
jakki.glivicky@profitlogic.com
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