1/21/05

LEADING SPECIALTY RETAILER SPENCER GIFTS SELECTS GNX SOURCING

Kurt Peters , Executive Editor

San Francisco, CA – January 18, 2005 – GlobalNetXchange (GNX), the e-business solution and service provider connecting retailers and manufacturers worldwide, today announced that Spencer Gifts LLC, the leading novelty gift retailer in the US and Canada, has implemented GNX’s retail-focused sourcing suite to drive savings across the business.

Founded in 1947, the New Jersey-based retailer operates more than 640 shops under the Spencer Gifts brand in the US and Canada, and over 130 temporary Spirit Halloween Superstores in the US. Spencer Gifts retails a broad selection of merchandise invoking humor, adventure and irreverence for its generation Y guests. Spirit Halloween is the leading temporary, specialty retailer of Halloween merchandise.

After a successful pilot program that generated an average savings of 19% per auction, Spencer Gifts selected GNX as its exclusive e-sourcing provider, and has already begun expanding the program to additional categories. Using the new GNX Sourcing solution, the company expects to drive sustainable improvements in buyer efficiency and expense reduction.

“Spencer Gifts views e-sourcing as a promising new tool that will assist us in streamlining – and driving down costs in -- our procurement process,” said Isaac Silvera, EVP and CFO of Spencer Gifts. “Partnering with GNX is a cost-effective way to access the most sophisticated, retail-focused sourcing solution on the market, with the added benefit of gaining access to their community of retail experience and best practices that accelerates adoption.”

About GNX
GNX is an e-business solution and service provider for the global retail industry. GNX solutions connect retailers, manufacturers and their trading partners to reduce costs and improve efficiency by streamlining and automating sourcing and supply chain processes. With a hosted platform, comprehensive customer support and deep retail experience, GNX simplifies the implementation process – and makes technology investments go further. GNX customers include many of the world`s largest retailers and manufacturers: Federated Department Stores; Carrefour; Coles Myer; KarstadtQuelle AG; The Kroger Co.; Metro Group; Pinault-Printemps-Redoute SA; Ace Hardware; J Sainsbury plc; Sears, Roebuck and Co.; Diageo; Unilever; Colgate-Palmolive; and Kimberly Clark. Based in San Francisco, California, GNX also has offices in Herndon, Virginia, the United Kingdom, France, Germany and Japan. More information is available at www.gnx.com or +1(415) 399-0990.

CONTACT:
Melissa Gisler
GlobalNetXchange
415.283.3804
mgisler@gnx.com

Topics:

Merchandising, Retailing, Spencer's Gifts, Spirit Halloween Superstores

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