New York - November 3, 2003 - ProfitLogic, whose suite of Retail Merchandise Optimization solutions helps retailers make more profitable merchandising decisions, today announced that Charming Shoppes, Inc. (NASDAQ: CHRS), the largest women`s plus-size specialty apparel retailer in America, will use ProfitLogic Price, the company`s Markdown Optimization Solution, to increase the profitability of its markdown decisions. Charming Shoppes, which operates 2,242 stores in 48 states under the names Lane Bryant ®, Fashion Bug ®, Fashion Bug Plus ®, and Catherine`s Plus Sizes ®, will initially implement ProfitLogic`s solution in its Fashion Bug division to enable its merchants to make markdown decisions at the geography-based price zone level.
"There are a number of benefits we expect to derive from ProfitLogic`s solution," said Eric Specter, Chief Financial Officer of Charming Shoppes. "We will increase our profitability and get a solid return on investment through better management of markdowns and improved pricing decisions across regions. We will also gain greater in-season visibility around merchandise velocity and inventory for our merchants to make more informed decisions."
Charming Shoppes selected ProfitLogic over the competition because of its many enterprise-scale rollouts and ProfitLogic`s proven track record of rapid implementations that have driven significant gross margin dollar increases and a quick return on investment for its customers. The software`s superior short-lifecycle analytics and ability to manage promotional and permanent price adjustments were also key factors in the decision-making process.
"The ProfitLogic Price solution enables regional level pricing, allowing us to provide more value to our customers at the local market level while improving Fashion Bug`s profitability," said Liz Williams, president of Charming Shoppes` Fashion Bug brand.
"For almost 70 years Charming Shoppes has been adapting to the changing needs of its target market in order to maintain customer loyalty and positive growth," said Tom Ebling, Chairman and Chief Executive Officer of ProfitLogic. "We`re looking forward to working with the merchandising and technology teams to ensure that they achieve increased profitability and a quick return on investment from their Merchandise Optimization solution."
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 known as Pricing4Profit), the industry`s leading Markdown Optimization solution, is currently being used enterprise-wide at several top-tier hard and softline retailers.
About Charming Shoppes
Charming Shoppes, Inc. (NASDAQ: CHRS) is the largest women`s plus-size specialty apparel retailer in America and operates 2,242 stores in 48 states under the names: Lane Bryant ®, Fashion Bug ®, Fashion Bug Plus®, and Catherine`s Plus Sizes ®. The company was founded in 1940 and is headquartered in Bensalem, Pennsylvania. Fore more information, please visit www.charmingshoppes.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, 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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