New York - December 9, 2003 - ProfitLogic, whose suite of Merchandise Optimization solutions helps retailers make more profitable merchandising decisions, announced today that Lerner New York, Inc. (formerly a subsidiary of Limited Brands), the specialty apparel retailer that caters to women looking for city-style apparel and accessories at moderate prices, has engaged ProfitLogic to help improve assortment planning and buying decisions in its 480 Lerner New York and New York & Company stores in 43 states.
"ProfitLogic`s Merchandise Optimization capabilities enable us to make more targeted assortment decisions based on a clearer picture of customer demand. Introducing scientific techniques to enhance the art of merchandising decisions is improving our return on inventory investment," said Ron Ristau, Chief Operating Officer of Lerner New York. "We were impressed by ProfitLogic`s track record of helping retailers improve profitability and processes within a short period of time and with the team`s understanding of our unique merchandising challenges."
"Retailers such as Lerner New York understand the importance of maximizing return on inventory investments," said Tom Ebling, Chairman and CEO of ProfitLogic. "By strategically leveraging the data it has spent millions of dollars collecting, Lerner will be able to make better and more profitable merchandising decisions in the future."
ProfitLogic provides industry-leading Merchandise Optimization solutions designed for the SKU-intensive needs of retailers whose top priority is getting the highest return on inventory investments. ProfitLogic`s customers have found that enhancing the art of merchandising with the power of customer demand information and analytics results in more profitable merchandising decisions.
About Lerner New York
Lerner New York caters to women looking for city-style apparel (jeans, dresses, and coordinates) and accessories (sunglasses, costume jewelry, and hosiery) at moderate prices. The company sells name-brand and private-label fashions in about 520 mall-based Lerner New York and New York & Company stores in 43 states. Limited Brands acquired Lerner in 1985 and sold it in 2002 to an investor team led by Lerner`s CEO, Richard Crystal, and including Bear Stearns Merchant Banking.
About ProfitLogic
ProfitLogic`s industry-leading suite of Merchandise Optimization solutions helps retailers make more profitable merchandising decisions. The suite, based on the company`s 20 years of experience providing analytical solutions for critical merchandising issues, is focused around four central merchandising processes: assortment planning, allocating, pricing and promoting. ProfitLogic has delivered fast, flexible solutions with significant financial benefit to industry leading retailers such as Ann Taylor, Bloomingdale`s, Casual Male Retail Group, Charming Shoppes, Gap Inc., including: Banana Republic, Gap, Old Navy, Gap International and Gap Outlet; The Home Depot, JCPenney, Marshall Field`s, Meijer Stores, Northern Group Retail, and ShopKo Stores. For more information about Cambridge, Mass.-based ProfitLogic, call 617-218-1900 or visit www.profitlogic.com.
Contact:
Jakki Glivicky
ProfitLogic
617-374-5959
jglivicky@profitlogic.com
Back...
