Borders Group, Inc. Selects Retek for Enterprise Solutions.Business Editors/High-Tech Writers MINNEAPOLIS--(BUSINESS WIRE)--Jan. 13, 2004 $3.4 Billion Book and Entertainment Retailer to Optimize Merchandising and Category Management Processes with Retek Solutions Retek Inc. (Nasdaq:RETK) announced today that Borders Group, Inc. (NYSE NYSE See: New York Stock Exchange :BGP (Border Gateway Protocol) The routing protocol that is used to span autonomous systems on the Internet. It is a robust, sophisticated and scalable protocol that was developed by the Internet Engineering Task Force (IETF). ), a leading global retailer of books, music, movies and entertainment items, has licensed a significant portion of Retek's solution suite to support its growing operations. Borders Group operates over 1,200 stores under the Borders and Waldenbooks brands with over one million active stock keeping units (SKUs). To help simplify and optimize the merchandising and category management process across the enterprise, Borders Group is consolidating merchandising systems that currently support Borders and Waldenbooks stores with the new Retek applications. "Borders requires a consolidated, integrated system of applications that can support our entire enterprise," said Borders Group Chief Information Officer Fred Johnson For the fictional character, see . Fred Johnson was a Major League Baseball player who played for the New York Giants and the St. Louis Browns. He debuted in 1922 on September 27th with the Giants. . "With increased visibility to system-wide supply and demand, it will enable us to optimize our inventory and assortments to support our focus on delivering improved customer service. We selected Retek because of its breadth and depth of solutions and its proven scalability to handle the transaction volumes of some of the world's largest retailers. With the new integrated Retek systems, we expect to improve inventory efficiency, localize lo·cal·ize v. lo·cal·ized, lo·cal·iz·ing, lo·cal·iz·es v.tr. 1. To make local: decentralize and localize political authority. 2. our assortments to provide improved customer service and simplify our retail system infrastructure." Michael Spinozzi, chief marketing officer for Borders Group, added that the Retek solution will help Borders "have the right titles in the right stores at the right time" and will "enhance supply chain efficiencies by reducing out-of-stock items and minimizing returns to publishers." Borders has selected several of Retek's Merchandising Operations and Management and Enterprise Infrastructure solutions including the Retek Merchandising System(TM), which provides a flexible, proven and scalable foundation to execute core-merchandising activities, including inventory replenishment, purchasing and vendor management. "Borders Group has chosen Retek as a strategic retail technology provider to support its existing business and provide the technology platform for growth," said Marty Leestma, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. at Retek. "Borders'strategic approach to consolidating its IT systems and category management process is impressive. We look forward to delivering the retail systems infrastructure to help improve its operating efficiency and performance." About Borders Group Borders Group Inc. (NYSE:BGP) is a leading global retailer of books, music and movies. Headquartered in Ann Arbor Ann Arbor, city (1990 pop. 109,592), seat of Washtenaw co., S Mich., on the Huron River; inc. 1851. It is a research and educational center, with a large number of government and industrial research and development firms, many in high-technology fields such as , Mich., the company employs 32,000 people worldwide and operates over 445 Borders domestic superstores; 37 international Borders stores, located primarily in the U.K. 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. ; 36 Books etc. stores throughout Great Britain Great Britain, officially United Kingdom of Great Britain and Northern Ireland, constitutional monarchy (2005 est. pop. 60,441,000), 94,226 sq mi (244,044 sq km), on the British Isles, off W Europe. The country is often referred to simply as Britain. ; and approximately 750 Waldenbooks stores in malls across America. Teamed with Amazon.com, the company also offers online shopping through Borders.com and Waldenbooks.com. More detailed information on the company is available at www.bordersgroupinc.com. Information regarding Borders store locations, in-store events and title reservation is available through www.bordersstores.com. 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 This is a list of collaborative software (or list of groupware) applications. Wiki software is on a list of wiki software. Open source or free software The following are open source or free software applications. 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. Visit Retek on the Web at www.retek.com. 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 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. Provision 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. 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 Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and other reports filed with the Securities and Exchange Commission. |
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