$17 Billion (USD) Australian Retailer to Improve the Accuracy of Inventory, Forecasts and Allocations with Retek’s Integrated Solutions
MINNEAPOLIS – October 16, 2003 Retek Inc. (Nasdaq: RETK) announced today that Coles Myer Ltd., Australia’s largest retailer, has licensed Retek’s integrated enterprise solutions to support its growing food and liquor operations. As Coles Myer has expanded, its systems infrastructure needed improved integration and advanced planning capabilities to efficiently support its continued growth. To support its food and liquor brands, Coles Myer has a myriad of systems that require extensive information technology (IT) resources to integrate and maintain. The Retek solutions will provide a scalable, integrated retail infrastructure and sophisticated planning and forecasting tools to drive improved business performance and simplify integration and support.
“After extensive research, including visits at global retailers Tesco, Sainsbury`s, Best Buy and Gap Inc., we selected Retek as our retail solution partner because of its retail expertise, superior integration, deep functionality and proven scalability,” said Peter Mahler, CIO at Coles Myer. “Leveraging the Retek solutions to manage multiple brands and categories will simplify our operations and reduce our costs to implement, maintain and enhance our systems. This project supports our strategic initiative to optimize our operations and maximize our efficiency across the organization.”
The Retek solutions, supporting the operations of Coles Myer food and liquor operations, will provide the following key benefits:
SINGLE VERSION OF THE TRUTH A single merchandising system will replace multiple systems to provide a single, accurate source of sales and inventory information. The Retek Merchandising SystemTM provides a flexible, proven and scalable foundation from which to profitably and efficiently execute core merchandising activities for Coles Myer operations.
IMPROVED DEMAND FORECASTS Combined with the Retek PromoteTM module, the highly scalable Retek Demand ForecastingTM solution leverages advanced scientific technologies and promotional and causal factors to develop the most accurate consumer demand at levels as low as SKU/store/day.
IMPROVED INTEGRATION The Retek Integration SolutionTM enables Retek solutions to communicate with each other as well as with other custom developed or acquired applications from outside vendors that utilize industry standard formats.
SCALABLE INFRASTRUCTURE The highly scalable Retek systems will provide the infrastructure to support Coles Myer’s continued growth. Retek applications are proven to support the significant transaction volumes of the world’s largest retailers.
“We are delighted that Coles Myer has selected Retek as its retail solutions partner,” said Marty Leestma, president and CEO with Retek. “Coles Myer’s strategic approach to simplifying its IT systems will provide an efficient retail infrastructure that is a platform for profitable growth.”
About Coles Myer, Ltd.
Coles Myer is an Australian-based retailer, owning and operating stores in most sectors of the Australian retail market and in the general merchandise sector of the New Zealand retail market. The Company supplies a wide range of food and non-food items in supermarkets, convenience stores, liquor stores, discount department stores, department stores, office supplies stores, technology stores and automotive service centers. In addition it supplies food, liquor and technology supplies through its on-line brands. Coles Myer recently entered into an alliance with Shell to operate 584 petrol sites throughout Australia. The petrol sites will be co-branded Coles Express and Shell. Coles Myer predominantly trades under the names of “Coles”, “Bi-Lo”, “Liquorland”, “Vintage Cellars”, “Theos”, “Coles Express”, “Kmart”, “Kmart Tyre & Auto”, “Tyremaster”, “Officeworks”, “Target”, “Target Country”, “Myer”, “Grace Bros”, “Megamart”, “Officeworks”, “Harris Technology” and “Coles Online”. In New Zealand, the Company trades as “Kmart”.
The Company is incorporated in the State of Victoria, Commonwealth of Australia. It has its executive offices at 800 Toorak Road, Tooronga, Victoria, 3146, Australia.
About Retek Inc.
Retek Inc. (Nasdaq:RETK) is the leading provider of mission-critical software and services to the retail industry. Retek solutions integrate collaborative software with patented predictive technologies, consulting services, and the best practices of customers and partners to help retailers create, manage and fulfill consumer demand. Leading global retailers including Tesco, Best Buy, Gap Inc., Sainsbury`s, Eckerd Corp. and Selfridges use Retek solutions. On the net: Retek at http://www.retek.com.
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Retek is a trademark 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.
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