Fashion Retailer Will Use Price Optimization Solution Across More Than 900 Stores REDWOOD SHORES, Calif., Oct. 19 -- ALDO Group Inc., originator of the Aldo Brand of fashion footwear and accessories, has selected Oracle(R) Retail Price Optimization, Oracle (NASDAQ:ORCL) announced today. ALDO will use Oracle Retail Price Optimization to help maintain the freshness of their merchandise and intimate customer relationship indigenous to their brands while improving profitability through better in-season inventory management. ALDO will deploy Oracle Retail across more than 900 corporate locations in North America and the United Kingdom in 2007.
The Oracle Retail Price Optimization initiative is part of ALDO`s strategy to grow consumer loyalty, improve profitability and expand their offerings to new markets. To achieve this, Aldo required a more advanced approach to managing in-season inventory and pricing strategies. The system will help streamline what is now a largely manual process that requires merchants to analyze large volumes of data.
ALDO plans to use Oracle Retail Price Optimization to help provide merchants with greater visibility into customer demand, the impact of price points on inventory levels, gross margin performance, and optimal in-season inventory management decisions. The new tool should help ensure faster sell-through, thereby reducing the need for deep markdowns late in the season to provide clean seasonal transitions. It will give better insight into customer preferences and how best to adapt to local market demands as the brand expands around the world.
Aldo Bensadoun, Founder and CEO of The Aldo Group stated recently, "At ALDO, expanding to new markets is key to our growth strategy. However, expansion also creates new challenges as we look to stay close to our customers in all our markets and provide them with the most up-to-date fashions. Oracle Retail`s partnership and solutions will help us manage growth and maintain our commitment to fashion and value so that we can continue to satisfy our customers worldwide."
According to ALDO president Rejean Dionne, ALDO selected Oracle Retail after evaluating several forecasting and optimization solutions. "We sensed early on that the Oracle Retail team understood our business and shared our passion for retail. We appreciated the time they took to learn the details of our business strategy. That demonstration coupled with references from other world-class retailers describing how Oracle Retail helped boost profitability convinced us to select Oracle Retail as our strategic partner for this initiative."
"We are committed to helping ALDO achieve its strategy for enhancing the customer experience, increasing sales and expanding to new markets," said Dan Stoks, Senior Vice President of Global Sales and Consulting for Oracle Retail. "Oracle Retail Price Optimization will enable ALDO to provide shoppers with fresh merchandise while growing profitably."
About Oracle Retail
Oracle partners with the world`s leading retail companies to transform the economics of their business. From supply chain, operations, merchandising, store systems, optimization and information technology solutions, Oracle Retail is the single source for innovative and comprehensive industry solutions -- enabling organizations to serve their customers better by applying insight into daily business decisions for more profitable results.
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Kevin Ruane of Oracle
Mary Ellen Amodeo