Retailers shift their ad spending from TV, radio and print ads to digital ads.
Fourth quarter revenue at Retek, a provider of retail software, rose 60% to $51.3 million compared with the year earlier quarter, Retek reported today.
Fourth quarter revenue at Minneapolis-based Retek Inc., a provider of retail software to create, manage, and fulfill consumer demand, rose 60% to $51.3 million compared with the year earlier quarter, Retek reported today. Software license revenue rose 72% to $38.7 million.
Compared with the third quarter of 2001, total revenue rose 8% and software license revenue rose 10%. For the year, total revenue rose 95% to $179.5 million and the company reported a net loss of $14.3 million.
Retek says it added seven customers in the fourth quarter, including Fast Retailing in Japan; Gymboree; BHV, a division of France`s Galeries Lafayette; and Mitre 10, Australia`s largest home improvement retail chain. It says it signed significant additional business with Kroger, Williams-Sonoma, Long`s Drug, Best Buy, WH Smith and Sainsbury`s.