Shoe Carnival Selects Oracle’s ProfitLogic Retail Profit Optimization Solution to Increase Store Sales Productivity and Profitability
National Footwear Retailer Partners with Oracle to Better Manage Inventory and Provide Customers with Fresher Merchandise in Season
REDWOOD SHORES, Calif. 04-AUG-2005 -- Oracle today announced that Shoe Carnival (Nasdaq: SCVL), a leading retailer of name brand and private-label footwear for the entire family, has selected Oracle`s ProfitLogic Retail Profit Optimization Solution to use across Shoe Carnival`s 266 U.S. stores. The solution will help the footwear chain to make timely in-season price adjustments, better manage inventory and transition from one season to the next, while improving profitability.
Executives at Shoe Carnival wanted to better manage inventory by clearing it earlier in the season and making way for fresh merchandise for its shoppers. To achieve this goal, they needed a more advanced approach to managing in-season inventory and pricing strategies. Traditionally, Shoe Carnival`s sophisticated promotional strategy required merchants to spend time sifting and analyzing data, rather than focusing their efforts on more strategic merchandising decisions. The executive team turned to Oracle`s ProfitLogic solutions to help automate the data-intensive, manual process and provide merchants with greater visibility into customer demand and the ability to optimize in-season inventory management decisions.
"Better in-season management presents a significant opportunity for us to provide customers with the latest in fashion-forward footwear, while increasing profitability," said Mark Lemond, president and CEO of Shoe Carnival. "We were impressed with the ability of Oracle`s ProfitLogic solution to help make our operations more customer-focused, efficient and profitable."
"Our merchants are very excited about the opportunity to use a more advanced system to make in-season inventory management decisions," stated Cliff Sifford, executive vice president and general merchandise manager at Shoe Carnival. "With better visibility into the performance of merchandise earlier in the season, we can offer our customers a fresher selection of footwear each time they visit."
"Shoe Carnival`s focus on the customer, energized shopping atmosphere and unique, value-focused business model has resulted in an impressive track record of sales growth," said Scott Friend, vice president of marketing and science, Oracle Retail Global Business Unit. "Advancing its merchandising decision-making process with customer demand insight and optimization capabilities will further contribute to Shoe Carnival`s success."
Shoe Carnival is a chain of 266 footwear stores located in the Midwest, South and Southeast and headquartered in Evansville, Ind. Combining value pricing with an entertaining store format, Shoe Carnival is a leading retailer of name brand and private label footwear for the entire family. For additional information, please see the company`s Web site at www.shoecarnival.com
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