$2.5 Billion Michaels Stores Implementing JDA Portfolio to Improve Turns and Increase Sales.Business Editors/High-Tech and Retail Writers SCOTTSDALE, Ariz.--(BUSINESS WIRE)--July 25, 2002 Arts & Crafts Retailer Selects Portfolio Replenishment for Proven Scalability & Business Processes JDA JDA Japan Defense Agency JDA Joint Development Agreement JDA Janne da Arc (band) JDA Joint Duty Assignment JDA Jerusalem Development Authority JDA Jovian Detention Authority (gaming) (R) Software Group Inc. (Nasdaq: JDAS) Thursday announced that $2.5 billion Michaels Stores Inc., (NYSE NYSE See: New York Stock Exchange : MIK MIK More in Kitchen ) the largest specialty retailer of arts and crafts arts and crafts, term for that general field of applied design in which hand fabrication is dominant. The term was coined in England in the late 19th cent. as a label for the then-current movement directed toward the revivifying of the decorative arts. merchandise in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , is implementing JDA Portfolio(R) advanced forecasting and replenishment(TM) solutions to dramatically improve inventory turnover while increasing sales. Having used JDA's Advanced Warehouse Replenishment by E3(R) for the last eight years to optimize inventory replenishment at four distribution centers, Michaels will integrate the functionality of the highly scalable Advanced Store Replenishment by E3(R) and Network Optimization by E3(R) to manage its massive product/store combinations while centralizing store level replenishment operations. "Each of our stores offers approximately 35,000 to 40,000 SKUs. With our plans to expand from just over 700 stores to more than 1,000 over the next few years, we required a replenishment system capable of supporting as many as 40 million store/SKU combinations," stated Sam Laboi, Michaels' vice president of replenishment. "JDA proved to us that it could match our future scalability requirements." Continued Laboi, "Replete with all the replenishment bells and whistles A slang English term for exceptional features in some product. In the computer field, it typically refers to functions in software that may be greatly appreciated by some users, even though they may not be necessary most of the time. , we believe Store Replenishment(TM) is the best brand to manage our unique store-level replenishment management requirements. Its built-in, best practice approach will enable our merchandisers to deliver quick-hit ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). , including better in-stock positions and increased customer satisfaction." Commenting on the implementation at Michaels, Kevin Stadler Kevin Stadler (born February 5, 1980) is an American golfer. Stadler was born in Reno, Nevada. He is the son of former Masters champion and 13-time winner on the PGA Tour Craig Stadler. , JDA's senior vice president, collaborative business solutions, stated, "By returning to JDA for additional inventory optimization solutions to support their growth plans, Michaels provides yet another example of how our proven, scalable solutions help top retailers efficiently manage large volumes of information. "Featuring advanced, computer-assisted ordering functionality based on over 20 years of industry best practices, our Advanced Replenishment Solutions deliver reliability, operational flexibility, accurate forecasting, and exacting execution -- all essential to a retailer's profitability." Michaels' Implementation to Support Store Growth Michaels is currently implementing Store Replenishment. Following acceptance testing (programming) acceptance testing - Formal testing conducted to determine whether a system satisfies its acceptance criteria and thus whether the customer should accept the system. , Michaels plans to conduct a pilot program involving five of their stores in the last quarter of 2002. By the spring of 2003, the remaining stores will begin to go live, with all stores scheduled to be up on the system within 18 months of the initial roll out. Immediately following the complete roll out of Store Replenishment, Michaels will implement Network Optimization(TM), designed to enable retailers to leverage detailed, store-level demand information when making inventory purchase decisions at the DC. About JDA Software JDA Software Group, Inc. is a demand and supply chain partner to the world’s leading retailers, manufacturers and suppliers and is located in Scottsdale, AZ. History Jim Armstrong, co-founded the U.S.-based JDA Software in 1985. Group Inc. With more than 4,600 retail, wholesale and manufacturing clients in 60 countries, JDA Software Group Inc. is a global leader in delivering integrated software Separate software components or applications that have been combined into one package. See integrated software package. and professional services for the retail demand chain. By capitalizing on its market position and financial strength, JDA commits significant resources to advancing JDA Portfolio, its suite of merchandising, POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale , analytic and collaborative solutions that improve revenues, efficiency and customer focus. Founded in 1985, JDA is headquartered in Scottsdale, and employs more than 1,400 associates operating from 36 offices in major cities throughout North America, South America, Europe, Asia and Australia. For more details, visit www.jda.com, call 800/479-RETAIL (7382) or e-mail info@jda.com. This press release contains forward-looking statements that are made in reliance upon the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements include Michaels' expectation that it will implement additional JDA products; and Laboi's statement that Michaels and its suppliers will achieve a ROI that improves stock positions and increases customer satisfaction. Future events may involve risks and uncertainties, including, but not limited to, uncertainties inherent in the retail business, such as the danger that the JDA product may not achieve its desired goals or that Michaels may elect not to implement the additional JDA products and other risks detailed from time to time in the "Risk Factors" section of our filings with the Securities and Exchange Commission. As a result of these and other risks, actual results may differ materially from those predicted. We undertake no obligation to update information in this release. JDA, JDA Portfolio, E3, JDA Portfolio Advanced Replenishment, Advanced Warehouse Replenishment by E3, Advanced Store Replenishment by E3 and Network Optimization by E3 are trademarks or registered trademarks of JDA Software Group. Any trade, product or service name referenced in this document using the name "JDA" is a trademark and/or property of JDA Software Group. All other trade, product, or service names referenced in this release may be trademarks or registered trademarks of their respective holders. |
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