Electronic Retailing Systems International, Inc. Announces Multi-Store Order from Rite Aid Corporation.NORWALK, Conn.--(BUSINESS WIRE)--Oct. 13, 1998-- First U.S. Drugstore Chain to Implement an ESL (1) An earlier family of client/server development tools for Windows and OS/2 from Ardent Software (formerly VMARK). It was originally developed by Easel Corporation, which was acquired by VMARK. System Electronic Retailing Systems International, Inc. (ERS ERS, n.pr See extended rotated side-bent. ) (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ERSI ERSI Environment Remote Sensing Institute ) today announced it received an order from Rite Aid Rite Aid (NYSE: RAD) is a United States retailer and pharmacy chain, operating over 5,000 stores in 31 states and the District of Columbia. Rite Aid Corporation is one of the nation's leading drugstore chains. Corporation (NYSE/PSE:RAD) to install its ERS ShelfNet(R) wireless, RF-based Electronic Shelf Label Electronic Shelf Label is a system used by Retailers for displaying price on shelves. Automating the price change process enhances in-store merchandising and store compliance. These features add up to increased sales and reduced overall operational costs. (ESL) system in ten Rite Aid stores in a marketing area in Philadelphia, Pennsylvania. These systems are being procured through ERS's SayGo(TM) rental program. Rite Aid Corporation, based in Camp Hill, PA, is one of the nation's largest drugstore chains with approximately 4,000 stores in 30 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . "We've been monitoring the ESL industry for some time now. With the competitiveness of our industry and the ongoing challenge we face to improve our in-store processes, we believe it's time It's Time was a successful political campaign run by the Australian Labor Party (ALP) under Gough Whitlam at the 1972 election in Australia. Campaigning on the perceived need for change after 23 years of conservative (Liberal Party of Australia) government, Labor put forward a to put ESLs to the test," stated Tim Noonan, President and C.O.O. of Rite Aid. "We're implementing the ShelfNet system on a market-wide basis in an effort to fully establish the benefits of ESLs. We're looking to ESLs to improve our ability to manage shelf-edge communications to both our customers and our in-store associates, specifically in the areas of merchandising, price integrity, and inventory shrink control." "We believe Rite Aid's decision confirms that ESLs offer a return on investment driven not only by labor savings from basic price changing, but also by substantial productivity-enhancing applications in such areas as merchandising and inventory control," said Bruce F. Failing, Jr., Chief Executive Officer for ERS. "This order, which is the fourth we've obtained in the last 60 days, further validates for us the increased interest in ESLs by both food and non-food retailers as a viable solution to address the issues of price integrity, inventory control and effective merchandising." ERS is a leading developer and supplier of electronic shelf labeling systems designed to improve retailer profitability. The ERS ShelfNet(R) system is designed to assist retailers in cost savings and pricing accuracy by using a wireless network to link a store's central computer both to its check-out scanner and to the Electronic Shelf Labels (ESLs) that display pricing information at the shelf edge. With ShelfNet, this pricing information is updated automatically on the ESLs when prices in the point-of-sale (POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale ) scanner are changed. This provides price integrity between the shelf edge and the POS scanners. ShelfNet uses spread spectrum RF technology, which is the most widely used method of wireless communication in retail today. In addition, ShelfNet uses a suite of patented software applications designed to communicate merchandising, inventory and other information to and from store personnel in the aisle. These applications are designed to provide value-added benefits to retailers in the areas of shelf-edge merchandising, replenishment control, strategic pricing and shelf set compliance. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties. ERS' actual results may vary from those anticipated due to a number of factors, including, without limitation, the timely availability and acceptance of new products, the rate of development of the emerging market for electronic shelf label systems, the impact of competitive products and pricing, the management of growth, and other factors set forth in reports and other documents filed by ERS with the Securities and Exchange Commission from time to time. |
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