Bloomingdale`s Now Live and Using ProfitLogic`s Merchandise Optimization Technology to Better Manage Pricing Decisions
Boston, Mass. - November 3, 2003 - ProfitLogic, whose suite of Retail Merchandise Optimization solutions helps retailers make more profitable merchandising decisions, today announced that Bloomingdale`s, the Manhattan-based division of Federated Department Stores, is now live and using ProfitLogic Price, the software company`s flagship markdown solution, to assist in managing fashion and seasonal merchandise. The implementation took under 16 weeks to complete and was on time and on budget. Now, Bloomingdale`s merchants log into an easy-to-use online solution that provides them with customer demand information and analytics to better manage the pricing of fashion and seasonal merchandise.
"Although we are still in the early stages, there appears to be a positive impact on the business," said Bruce Berman, CFO of Bloomingdale`s. "ProfitLogic`s solution provides us with a new way to look at our business. We have greater visibility into merchandise performance and have the information we need to react to changes in customer demand."
"Achieving customer success is our main goal at ProfitLogic and that starts with the implementation process," said Bruce Pagliuca, Vice President of Professional Services at ProfitLogic. "The attention and focus of Bloomingdale`s executives, Karabus Management`s consultants, and the dedicated teamwork on both sides were the keys to the implementation`s success. Now we look forward to having Bloomingdale`s merchants use the solution and experience the benefits."
"One of the critical success factors at Bloomingdale`s was that the executives and merchants understood the need to rethink the merchandising processes and were open to changing the way they handled their markdown decisions," said Antony Karabus, CEO of Karabus Management, a leading retail and consumer product consulting firm. "Because of this, Bloomingdale`s will quickly achieve bottom-line benefits from ProfitLogic`s Markdown Optimization solution."
Unlike other retail software solutions that can take up to two years or more to implement, Markdown Optimization implementations typically average 16 weeks, with minimal disruption to the merchandising organization, and generate a positive return on investment (ROI) within the first season of use. On average, ProfitLogic Price generates a 5-10% gross margin dollar improvement for retailers.
ProfitLogic provides industry-leading Retail Merchandise Optimization (RMO) solutions designed for the SKU-intensive needs of retailers whose top priority is getting the highest return on inventory investments. ProfitLogic 2003, which includes Plan, Place, Price and Promote, enhances the art of merchandising with the power of customer demand information and analytics, resulting in more profitable merchandising decisions from pre-season planning through end-of-life clearance. ProfitLogic Price (formerly know as Pricing4Profit), the industry`s leading Markdown Optimization solution, is currently being used enterprise-wide at several top-tier hard and softline retailers in North America.
About Bloomingdale`s
Bloomingdale`s, a division of Federated Department Stores, was founded in 1872 and operates 27 stores in New York, New Jersey, Massachusetts, Pennsylvania, Maryland, Virginia, Illinois, Minnesota, Florida, Nevada and California. 2001 annual sales were $1.7 billion. For website access log onto www.bloomingdales.com.
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
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