Federated Department Stores Extends Agreement With QRS For Tradeweave Data Exchange Messaging and Tradeweave Product Catalog Services
RICHMOND, Calif., Dec. 20 --
QRS Corporation (Nasdaq: QRSI), the market leader in e-commerce and
supply-chain management solutions for the retail industry, announced today
that Federated Department Stores Inc. (NYSE: FD), one of the nation`s leading
department store retailers, and QRS have entered into a new multi-year
agreement under which QRS will continue to be Federated`s provider-of-choice
for electronic data messaging and product catalog services.
Building on a successful relationship of more than a decade, Federated
has renewed its current contract with QRS. The new multi-year contract is for
the use of Tradeweave(TM) Data Exchange Messaging and Tradeweave Product
Catalog in the synchronization and exchange of procurement documents and
related information with its vendors.
Federated uses QRS` product catalog and messaging services to eliminate
inefficiencies within the merchandise procurement process. Federated and its
more than 2,000 trading partners have used the combined solution to
synchronize product information and transmit the critical business documents
that have resulted in reduced merchandise procurement time and operational
costs.
"Federated Department Stores has always stayed ahead of the technology
curve," said Liz Fetter, president and chief executive officer for QRS.
"Federated`s early adoption of QRS` product catalog and data messaging
services helped establish these products as the industry standard and basis
for communication in the retail community. Integration of these products with
Federated`s other systems and QRS` Tradeweave Sourcing application has created
even greater efficiencies throughout the supply chain for Federated. QRS will
continue to provide the core technologies that address the needs of the retail
industry."
Tradeweave Data Exchange Messaging and related services offer a suite of
e-commerce solutions that enable all business-to-business communications
regardless of data format, operating systems, networking or communications
protocols. With Tradeweave Data Exchange Messaging, retailers and vendors can
quickly and easily establish cost-effective data messaging to support their
business-to-business trading communities. Tradeweave Data Exchange Messaging
is a network-based service using highly secure store-and-retrieve mailbox
technology. It supports EDI, XML and most other structured and unstructured
data formats.
The Tradeweave Product Catalog offers retailers and their trading partners
the ability to synchronize product and pricing data through the retail
industry`s most comprehensive product database. The Tradeweave Product Catalog
contains more than 80 million products and supports more than 600 associated
product attributes. Product catalog data is used to support electronic
documents and transactions. With a community of more than 3,000 companies
actively synchronizing product information, retailers and their vendors are
able to cut procurement-cycle times, better manage inventory investment and
reduce product time to market.
Tradeweave Data Exchange Messaging and Tradeweave Product Catalog are part
of QRS` Tradeweave Retail Network -- an integrated suite of applications,
business intelligence and messaging services for the global retail industry.
About Federated Department Stores
Federated, with corporate offices in Cincinnati and New York, is one of
the nation`s leading department store retailers, with annual sales of more
than $18.4 billion. Federated currently operates more than 450 stores in
34 states, Guam and Puerto Rico, under the names of Macy`s, Bloomingdale`s,
The Bon Marche, Burdines, Goldsmith`s, Lazarus and Rich`s, as well as
macys.com, Bloomingdale`s By Mail and Fingerhut. More information about
Federated is available at http://www.federated-fds.com.
About QRS
QRS Corporation is the leading provider of supply-chain management and
e-commerce solutions for the retail industry. For 13 years QRS has helped its
4,000 customers increase revenues, decrease costs and reduce product cycle
times. QRS` Tradeweave(TM) Retail Network -- an integrated suite of
applications, business intelligence and messaging services -- enables secure
and profitable relationships among retailers, manufacturers and their trading
partners. Dedicated solely to the retail industry, QRS has enabled more than
100,000 partnerships giving retailers and manufacturers a better way to plan,
source, buy and sell, finance, track, price, merchandise and replenish
products.
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995:
This release contains forward-looking statements regarding future events
and the future financial performance of QRS that involve risks and
uncertainties. Readers are cautioned that these forward-looking statements are
only predictions and may differ materially from actual future events or
results. Readers are referred to the documents filed by QRS with the SEC,
specifically the most recent reports on Form 10-K, 8-K, and 10-Q, each as it
may be amended from time to time, which identify important risk factors that
could cause actual results to differ from those contained in the
forward-looking statements, including risks associated with general economic
and political conditions, including further disruptions; specific conditions
in the retail industry; competition; increased length of sales cycles for our
Tradeweave products and services; reductions in information technology
spending in the retail industry; dependence upon key customers and their
trading partners; ability to introduce and market acceptance of new products
and services; the ability to successfully integrate and manage acquired
businesses and technologies; and dependence upon IBM for e-commerce services,
among others. QRS assumes no obligation to update the forward-looking
information contained in this news release. QRS` results of operations for the
three and nine months ended September 30, 2001 are not necessarily indicative
of QRS` operating results for the full fiscal year or any future periods.
The financial information contained in this release should be read in
conjunction with the consolidated financial statements and notes thereto
included in QRS` most recent reports on Form 10-K and Form 10-Q, each as it
may be amended from time to time.
CONTACT:
Maureen Collins of QRS Corporation
+1-978-283-9505
mcollins@qrs.com
Nicolette Pizzitola of Stanton-CrenshawCommunications
+1-212-780-1900
nicole@stanton-crenshaw.com
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