QRS to Automate Purchasing Operations for National Sporting Goods Retailer
RICHMOND, Calif. – June 25, 2002 – QRS Corporation (Nasdaq: QRSI), a leading provider of adaptive commerce solutions for the extended supply chain, announced today that Modell’s Sporting Goods has selected QRS to enable every partner in its trading community to send and receive electronic information. Modell’s, the nation’s oldest family-owned sporting goods retailer, will use QRS Exchange™ to accelerate purchasing transactions, reduce stock-outs and increase sales at its more than 90 stores on the East Coast.
QRS Exchange makes it possible to achieve total electronic commerce compatibility, connecting every partner in the extended supply chain. QRS Exchange is a comprehensive solution suite of software, networking and support services that allows retailers and vendors to successfully transmit electronic data and documents independent of company size, communication preference or technology infrastructure.
Modell’s is implementing QRS Exchange modules Data Exchange, Web Forms and Managed EC to automate its purchasing operations with more than 2,000 suppliers. Data Exchange is an electronic mailbox service that transports multiple file formats such as electronic data interchange (EDI) and extended markup language (XML). Smaller and medium-size vendors can take advantage of Web Forms, an Internet-based data translation service, and Managed EC, an EDI-to-fax service that also generates price tags and shipping labels.
Modell’s also will benefit from QRS services, such as transaction testing, to ensure that suppliers comply with the retailer’s requirements for electronic information transfer. Implementation of the total e-communication program should be completed by the third quarter of 2002.
“With QRS we will be able to realize the benefits of reduced cycle time, remove days from the supply chain and increase our in-stocks and sales,” said Hans Kantor, vice president of information technology for Modell’s Sporting Goods. “QRS has valuable experience in the retail industry and will help us achieve our goal of electronic collaboration with all of our suppliers to control costs and increase customer satisfaction.”
“We value the opportunity to work with one of the most experienced and successful sporting goods retailers in the country,” said Liz Fetter, president and CEO of QRS. “Through QRS, Modell’s will be able to accelerate processes with the goal of increasing sales and improving business.”
About Modell’s Sporting Goods
Modell`s Sporting Goods is the nation’s oldest family-owned and -operated retailer of sporting goods, sporting apparel, menswear and brand-name athletic footwear. Modells.com currently offers a large collection of products from top name brands in the sporting goods and apparel business. Under the name Modell’s Sporting Goods, Henry Modell & Company, Inc. and its affiliates operate over 90 stores throughout New York, New Jersey, Pennsylvania, Delaware, Maryland and Virginia. For more information, please visit the company’s website: www.modells.com.
About QRS
QRS (Nasdaq: QRSI) has been building, automating and managing retail trading relationships through innovative software applications and services since 1988. Today, QRS is an established leader in providing adaptive commerce solutions for the extended supply chain. QRS offers scalable trading community connectivity; reliable product content management; real-time, synchronized transaction delivery; and Web-enabled sourcing and procurement. QRS solutions are used by more than 8,000 retail industry customers* representing the world`s top retailers, vendors and manufacturers, including Federated Department Stores Inc., Selfridges plc, Sears, Roebuck and Co., LVMH LLC, Group Clarins USA and Jones Apparel Group Inc. With QRS adaptive commerce solutions, retail industry customers can transform their extended supply chain in response to marketplace dynamics, drive process efficiency and achieve superior profit. Learn more about QRS Corporation at www.qrs.com.
*Based on total, unique QRS corporate customers that purchased or licensed QRS products and services between April 2001 and May 2002.
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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 Corporation 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 Corporation 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 factors that could cause actual results to differ from those contained in the forward-looking statements, including risks associated with general economic conditions; specific conditions in the retail industry; competition; changes in our senior management; rapid technological change in our 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 is a registered trademark of QRS Corporation. All other trademarks belong to their respective owners.
© 2002 QRS Corporation. All Rights Reserved.
CONTACT:
Cynthia Seymour
QRS Corporation
510-965-4508
cseymour@qrs.com
Caroline Pasquesi
Hill and Knowlton
415-281-7164
cpasques@hillandknowlton.com
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