Andersen Consulting's Retail Industry Practice reports 56 percent growth.CHICAGO--(BUSINESS WIRE)--March 24, 1997--Andersen Consulting's Retail Industry Practice, which serves general retail, drug retail, wholesale distribution, restaurants and food service companies, increased net revenues for the year ending December 31, 1996, by 56 percent, to $377 million. The firm's overall net revenues climbed 26 percent over 1995, to $5.3 billion. "Andersen Consulting See Accenture. is thriving because we are very focused on helping our clients to deliver greater value to their customers, and through such efforts, increased value to their shareholders," said George T. Shaheen, Andersen Consulting's worldwide managing partner. "Our ability to develop and deliver inventive in·ven·tive adj. 1. Of, relating to, or characterized by invention. 2. Adept or skillful at inventing; creative. in·ven solutions is fueling our vigorous growth." Andersen Consulting showed strong growth in industries buffeted buf·fet 1 n. 1. A large sideboard with drawers and cupboards. 2. a. A counter or table from which meals or refreshments are served. b. A restaurant having such a counter. 3. by major change, especially the Retail industry. The firm's retail practice growth was strong worldwide, fueled by a 20% growth in revenues in the Americas, and a dramatic 215% jump in its Europe/Middle East/Africa/India revenues, largely a reflection of the increasingly competitive landscape in the United Kingdom and Scandinavia. Andersen Consulting's growth reflects the needs of its clients to respond to intense competitive pressures and rapidly changing market conditions facing today's retailers. In developed economies worldwide, a significantly overstored industry, "time-starved" yet savvy consumers, the expanding impact of new technologies creating opportunities for greater efficiencies at lower cost, and mergers and acquisitions that continue to alter the industry landscape, all contribute to a challenging environment for retailers. In the face of these mature market pressures, Andersen Consulting is helping retailers understand how key retail processes and strategies can help them deliver sustainable increases in value to customers and shareholders alike. For customers, this translates to retailers delivering improved merchandise offerings that better match consumer priorities by giving them what they want, when they want it, at a price they are willing to pay. For shareholders, this translates to retailers enhancing their stock performance by improving their economic value added Economic value added (EVA) A method of performance evaluation that adjusts accounting performance for investors' required return on investment. Suppose a division produces a 12% return on capital invested. . In developing economies, such as the rapidly expanding markets of Southeast Asia Southeast Asia, region of Asia (1990 est. pop. 442,500,000), c.1,740,000 sq mi (4,506,600 sq km), bounded roughly by the Indian subcontinent on the west, China on the north, and the Pacific Ocean on the east. and the Pacific Rim Pacific Rim, term used to describe the nations bordering the Pacific Ocean and the island countries situated in it. In the post–World War II era, the Pacific Rim has become an increasingly important and interconnected economic region. , Andersen Consulting is assisting leading retailers in the development and implementation of aggressive expansion plans. "Both established local players as well as leading global retailers view these markets as the prime real growth opportunities of the '90s and beyond," said Steve Johnson Steve Johnson is the name of:
In addition, The Retail Place, Andersen Consulting's research and development center for the retail industry, continues to attract key clients and prospects with its industry outlook and its vision of success for the future. Through interactive, tailored workshops, retailers are challenged to explore key elements of their business -- store operations, real estate, human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. , merchandising merchandising Element of marketing concerned especially with the sale of goods and services to customers. One aspect of merchandising is advertising, which aims to capture the interest of the segment of the population most likely to buy the product. , advertising, procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. and electronic commerce -- and how those elements can be transformed to drive value creation. The center presents the latest relevant thinking in the retailing industry and is committed to helping retailers effectively meet industry challenges. The firm's Retail Industry practice serves many of the world's largest and emerging retailers, providing a wide spectrum of services ranging from strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. , business process management and change management skills to systems integration. Andersen Consulting is a $5.3 billion global management and technology consulting organization whose mission is to help its clients change to be more successful. The organization works with clients from a wide range of industries to link their people, processes and technologies to their strategies. Andersen Consulting has nearly 45,000 persons in 47 countries. Its home page address is http://www.ac.com. CONTACT: Ellen Mather Andersen Consulting (312) 507-2342 ellen.d.mather@ac.com |
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