Country Road Drives Business Value with Retek Solutions.Business Editors/High-Tech Writers MINNEAPOLIS--(BUSINESS WIRE)--March 31, 2003 $120 Million (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) Australian Fashion Retailer and Wholesaler Streamlines Operations With Retek(R) Merchandising Operations Management(TM) Solutions Retek Inc. (Nasdaq:RETK) announced today that Country Road, an Australian apparel retailer and wholesaler and subsidiary of Woolworths Holdings Limited of South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. , has implemented Retek Merchandising Operations Management Operations management is an area of business that is concerned with the production of goods and services, and involves the responsibility of ensuring that business operations are efficient and effective. solutions to replace multiple legacy applications that had been developed over the past 25 years at Country Road. The rigid legacy systems were overly complex, lacked integration and required many manual processes. The lack of integration and collaboration inhibited Country Road's growth and negatively impacted the company's operating efficiency. "Managing both retail and wholesale operations requires substantial system flexibility," stated Nelson Mair, chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. with Country Road. "We selected Retek solutions because they offered the most flexible and scalable platform to support our future growth. The Retek solutions have provided us the improved inventory visibility and accuracy that will help us drive increased sales and profits. Our simplified processes and integrated systems provide us the powerful infrastructure to support our continued growth." Retek Merchandise Operations Management (RMOM) solutions enable retailers to coordinate their operations and maintain a single, comprehensive source of consistent and accurate data. The Retek(R) Merchandising System(TM) (RMS), an application within the RMOM solution, provides a flexible, scalable and proven foundation from which to execute a broad range of core merchandising activities, including inventory replenishment, purchasing and vendor management. Retek(R) Data Warehouse(TM) (RDW Red cell distribution width (RDW) A measure of the variation in size of red blood cells. Mentioned in: Red Blood Cell Indices RDW red cell distribution width. ), a web-based strategic performance analysis solution, melds massive amounts of data from different systems into user-friendly reporting that provides a single view of data. With its flexible and scalable foundation, RDW provides retailers an efficient place to store and analyze key transaction level information. "Country Road has made substantial progress in its major business transformation project," said Duncan Angove, chief strategy officer at Retek. "We are delighted to see the significant improvements in business processes Country Road has achieved and look forward to the deployment of additional Retek applications to support its growing business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets ." About Country Road Country Road is an Australian based company that operates both as a retailer and a wholesaler. It operates in Australia (36 stores) and New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. (6 Stores) on a retail basis and in Australia, New Zealand, Singapore, and the Gulf States as a wholesaler. Established in 1974, the Country Road brand has grown to become one of the best known and highly regarded fashion lifestyle brands in Australia. The brand enjoys 97% recognition in Australia and is inextricably in·ex·tri·ca·ble adj. 1. a. So intricate or entangled as to make escape impossible: an inextricable maze; an inextricable web of deceit. b. linked to an Australian lifestyle that is relaxed, stylish, modern and desirable. The product range offered by Country Road includes a distinctive and fashionable style of Mens, Womens and Childrens Apparel, Accessories and Homewear. Our parent company is Woolworths Holdings Limited of South Africa. About Retek Inc. Retek Inc. (Nasdaq:RETK) is the leading provider of mission-critical software and services to the retail industry. Retek 10 integrates 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. 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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