Whole Foods Market® Enters Into An On-demand Pricing Agreement With Retek
Whole Foods Chooses Retek Data Warehouse Using Retek’s New On-demand Pricing Model
Minneapolis – October 25, 2004 – Retek, Inc. announced today that Whole Foods Market, the world’s leading retailer of natural and organic foods, has selected the Retek Data Warehouse (RDW) solution to provide a tool for operational reporting and category management across its 162 locations in North America. This is a unique partnership for both Retek and Whole Foods, and initiates Retek’s new on-demand pricing model, which offers customers the flexibility to invest in the solutions as they use them.
“Retek is excited to offer its customers on-demand pricing, which enables them to implement Retek solutions and change the amount of their investment over time based on the value they are receiving,” said Jerry Dolinsky, Senior Vice President of Worldwide Field Operations at Retek. “This innovative approach to pricing and licensing provides flexibility to our customers - who pay for applications based on their usage - and delivers visibility to Retek while we focus on our customers’ needs. Today’s business environment changes so quickly, and companies need the flexibility to meet their business needs and stay on course with their business goals. We want to deliver this flexibility to our customers and help them focus on their business.”
Whole Foods Market shared in Retek’s vision for demand pricing because it aligns with their long-term goals for IT simplification and flexibility, and how they would like to enter into future technology agreements. “The pay-as-you-realize value approach is where the software industry needs to go,” said Michael Clifford, Chief Information Officer for Whole Foods Market. “We value Retek for being the first vendor we’ve worked with to understand the longer term vision of this model and for being bold enough to take the first step toward On Demand Pricing. This model gives us the flexibility to roll out the RDW reporting toolset as needed by our business users and provides Retek with long term rewards as they ensure that we constantly realize value from their application.”
About Whole Foods Market
Founded in 1980 in Austin, Texas, Whole Foods Market (www.wholefoodsmarket.com) is the world’s leading natural and organic foods supermarket and America’s first national certified organic grocer. In fiscal year 2003, the company had sales of $3.1 billion and currently has more than 160 stores in the United States, Canada, and the United Kingdom. The Whole Foods Market motto, “Whole Foods, Whole People, Whole Planet”™ captures the company’s mission to find success in customer satisfaction and wellness, employee excellence and happiness, enhanced shareholder value, community support and environmental improvement. Whole Foods Market, Harry’s Farmers Market®, and Fresh & Wild® are trademarks owned by Whole Foods Market IP, LP. Whole Foods Market employs more than 30,000 team members and has been ranked for seven consecutive years as one of the “100 Best Companies to Work for” in America by Fortune magazine.
About Retek, Inc.
Retek Inc. (Nasdaq:RETK) is the leading provider of mission-critical software and services to the retail industry. Retek solutions integrate collaborative software with patented predictive technologies, consulting services, and the best practices of customers and partners to help retailers create, manage and fulfill consumer demand. Retek’s mission is to help make its customers the most successful retailers in the world. Leading global retailers including Tesco, Best Buy, Gap Inc., Sainsbury`s, Eckerd Corp. and Selfridges use Retek solutions. Visit Retek on the Web at www.retek.com.
Retek is a trademark of Retek Inc. Other names may be trademarks of their respective owners.
Forward-looking statements contained in this press release are made under the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. Such factors are described from time to time in the company`s Annual Report on Form 10-K and other reports filed with the Securities and Exchange Commission.
Media Relations Contact
Salena Gallo
612-587-2522
salena.gallo@retek.com
Investor Relations Contact
Al Galgano
612-587-2485
al.galgano@retek.com
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