Kurt Peters , Executive Editor
Major retailer of athletic footwear and apparel implements innovative software application to increase sales, protect margins, and delight customers
NRF Booth 631, New York, NY - January 14, 2002 - Found, Inc., a software and services provider that helps retailers drive sales and build customer loyalty by unifying inventory and sales channels, today announced that it has helped Finish Line increase sales in stores that have implemented Found`s ICaM (Integrated Clicks and Mortar) application. ICaM makes a retailer`s entire inventory available for sale from all channels and helps avoid lost sales due to stock outs. The results have been extremely positive, with each store significantly gaining additional sales per month - sales that traditionally may have walked out the door.
The Finish Line, Inc. (NASDAQ: FINL) is one of Found`s initial customers and a leading mall-based specialty retailer of name brand athletic footwear and apparel. With more than 450 stores in 43 states, Finish Line is known for providing customers with the best selection of active footwear in the mall. Finish Line`s challenge was to improve the availability of its inventory to the customer, both in store and on-line.
"When it comes to customer satisfaction, there is nothing as important as having the right product in the right place at the right time," says Roger Underwood, senior vice president of Information Systems at Finish Line. "We`d be living in a dream world if we had every product in the right size for each customer that shops our stores. With Found`s ICaM application, this dream is becoming a reality, because if the product isn`t available where the customer is, we can now ensure that we`ll find another method of getting that item to them."
Finish Line selected Found`s ICaM Inventory Locator and ICaM Order Manager to make inventory information available both in its stores and on its website, so that customers and store employees can now have real-time access to all items from any location. This allows customers and employees to search and purchase from Finish Line`s inventory of products from brick & mortar stores and the website. Store associates simply key the product SKU into their Point-of-Sale system and ICaM locates it at the distribution center or another store for shipment to the customer. If the customer prefers, the item can also be found at a nearby store for customer pickup. ICaM then routes the order, updates the inventory, and generates a pick ticket at the designated store indicating the merchandise has been sold.
ICaM also helps drive business at Finishline.com. Online customers can access all of Finish Line`s merchandise, not just the stock that`s available from the distribution center.
Finish Line is currently rolling out Found`s ICaM application in markets across the US. Currently, the solution results in several "saved sales" in each store per week - sales that would have been lost due to a store stock-out and would have resulted in an empty-handed customer walkout. Even better results are anticipated as more stores rollout with ICaM and make more of Finish Line`s distributed inventory available for ICaM-driven sales.
"We are extremely pleased with the initial results of our ICaM implementation, " says Roger Underwood. "We are driving sales, improving customer loyalty, and turning inventory more effectively which are all top priorities for Finish Line. We`re also excited about the ROI we`re already seeing from our investment with Found."
"We`re excited to see the positive results of our ICaM implementation at Finish Line," said Glen Mella, president and CEO of Found. "They are thought leaders in managing distributed inventory to better serve their customers in today`s competitive multi-channel retail environment."
About Found, Inc.
Found provides software and services that unifies inventory and sales channels to help retailers drive sales, protect product margins, and exceed their customers` expectations. Found`s ICaM (Integrated Clicks and Mortar) application prevents lost sales due to stockouts by giving retailers real-time access to multiple sales channels. Specifically, the ICaM Inventory Locator and ICaM Order Manager allow retailers to find merchandise and capture sales when and where their customers are ready to buy. Found is a privately held company based in Salt Lake City. For more information, visit www.found.com.
About Finish Line, Inc.
Finish Line is one of the nation`s largest specialty retailers of men`s, women`s and children`s brand name athletic and lifestyle footwear, apparel and accessories currently operating 454 stores in 43 states.
Finish Line, Inc.