Retek Inc. Press Release
Leading South African Retailer to Benefit from Implementing Retek Supply Chain, Logistics and Merchandising Solutions
Minneapolis – November 5, 2001 – Retek Inc. (NASDAQ: RETK) announced today that Edgar’s Consolidated Stores (Edcon), a major group of fashion retailers in South Africa, has successfully gone live with the Retek Merchandising, Logistics and Supply Chain Solutions. This initiative will support Edcon’s aggressive growth plans in a tough retail market while helping to reduce inventory and excess costs in its supply chain. Retek is the leading provider of solutions that help the retail industry create, manage and fulfill consumer demand.
Edcon is using Retek Solutions to drive expansion plans for its five chains of fashion retailers focused on clothing, footwear, accessories, mobile phones and textiles. The $676 million (USD) retailing group comprises 670 stores, including the Edgar’s department store incorporating the upscale ABC footwear business and the Discount grouping of Jet Sales House, Smileys and Cuthberts (shoe store).
“Edcon is a diverse retail organization, serving different segments of the South African market,” says John Day, Group IT Director with Edcon. “Our six chains all need to be able to respond quickly to changing trends in the market. Retek delivers a completely integrated solution, which will allow us to achieve this goal without the constraints of our previous systems.”
Edcon is already realizing the benefits of its Retek implementation. “Days have been shaved off our supply chain thanks to faster system feeds and allocations,” says Calvin Low, Supply Chain Development Executive with Edcon. “We are anticipating many benefits from using Retek’s advanced forecasting engines to predict the best selling opportunities. Additionally, Retek’s pricing solution is enabling Edcon to dramatically improve the management of our markdowns.”
Koos Swart, Logistics Director with Edcon, adds, “Retek is helping us optimize our logistics operations – allowing us to provide the highest level of service across our chains, while minimizing warehouse costs through improved efficiency.”
“Retek shares Edcon’s goal of achieving its impressive plans for growth and efficiency,” says Gordon Masson, President of EMEA for Retek. “We have forged a valuable partnership that has already realized a good deal of success. We are now looking forward to what surely will be a long and fruitful relationship.”
About Retek Inc.
Retek Inc. is a leading provider of software solutions and services to the retail industry. Retek’s collaborative solutions help the retail industry create, manage and fulfill consumer demand. Many of the world’s leading retailers use Retek solutions, including A&P;, Tesco, Best Buy, Family Dollar Stores, Eckerd Corp., Kohl’s Department Stores and The Home Shopping Network. For more information, visit http://www.retek.com, or call 1-888-61-RETEK. Retek can be contacted in Europe at +44 20 7563 4646.
Retek and retail.com are trademarks of Retek Inc. Other names may be trademarks of their respective owners.
Forward-looking statements contained in this press release are made under the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. Such factors are described from time to time in the company`s Annual Report on Form 10-K and other reports filed with the Securities and Exchange Commission.