Leading UK Retailer Joins Retek's Business-to-Business Network, retail.com
Selfridges Subscribes to retail.com's E-service to Cut Time and Cost Out of
Their Supply Chain
MINNEAPOLIS, Feb. 14 /PRNewswire/ -- Retek Inc. (Nasdaq: RETK) gains
support from European retailers with their latest customer, Selfridges. The UK
department store has joined retail.com, Retek's business-to-business
collaboration network for the retail industry, to improve business
communications and help fuel a faster supply chain.
(Photo: newscom.com )
Retek is committed to deliver retail solutions globally. The company's
solutions are in use today by major European retailers including Littlewoods
Group, Sonae, FNAC and Storehouse. The company also recently announced the
signing of several new European customers such as C&A, Despar and New Look.
After extensive research in the business-to-business market, Selfridges
subscribed to WebTrack, a retail.com e-service. WebTrack manages supply chain
workflow and execution and helps reinforce relationships within the supply
chain; formalizing and facilitating global communication to improve
responsiveness, reduce lead times, and lower costs.
"At Selfridges, we are getting closer to our suppliers," said Alun George,
Selfridges IT Director. "EDI worked well in many of our supplier
relationships, but this isn't the end game. WebTrack from retail.com is a
glimmer of light, amidst empty industry promises."
retail.com brings retailers and their suppliers together in a central
place where they can collaborate, communicate, and share information in an
effort to improve business performance. Central to retail.com is its suite of
e-services, designed to support and improve core retail business-to-business
processes.
"By joining the retail.com network and moving towards a service model we
can overcome our two main inhibitors, money and time," said George. "We
anticipate immediate payback from retail.com. By offering our buying and
merchandising teams access to retail.com, we are increasing service delivery
to the organization -- faster and cheaper."
In a struggling UK market, Selfridges has reported exceptional performance
over the last 18 months. The retailer's annual sales are approximately
350 million pounds over 720,000 square feet with an average of 100,000
transactions a day.
"We have an excellent reputation for understanding real retail issues,"
said Ian Johnston, Retek EMEA Managing Director. "Substantial European
retailers are endorsing our brand, our knowledge and our expertise. We see
these new customers such as Selfridges, C&A, Despar and New Look as
re-enforcing our expanding position within Europe. We look forward to working
with them and our existing European customers to provide retail solutions,
like retail.com WebTrack, for the present and the future."
About Retek
Retek Inc. is the leading provider of Internet business-to-business
software for the global retail industry. The company operates retail.com
( retail.com ), the retail industry's leading e-commerce platform
for business-to-business collaboration. Through retail.com and Retek's
operational and predictive business intelligence software, Retek delivers
improved decision-making capabilities and operational efficiencies throughout
the supply chain. Retek customers include AnnTaylor, Brooks Brothers, Family
Dollar Stores, Kohl's Department Stores, Eckerd Corp., The Home Shopping
Network and FogDog Sports.
For more information, visit Retek's web site at retek.com or
call 877-362-2532. Retek can be contacted in Europe at +44 171 872 5795.
Forward-looking statements contained in this press release are made under
the Safe Harbor Provision of the Private Securities Litigation Reform Act 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 and other reports filed with the Securities and Exchange Commission.
SOURCE Retek Inc. |
