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REDWOOD SHORES, Calif.,
10-SEP-2007 05:00 AM
Loehmann's, the only national upscale, off-price specialty retailer, is successfully using Oracle(r) Retail Price Optimization to provide customers with fresher merchandise in-season and boost profitability, Oracle announced today. Since implementing the Oracle Retail application, Loehmann's has seen significant return on its investment by increasing gross margin dollars.
Loehmann's has been using the Oracle Retail application for more than a year at its more than 60 store locations across 17 states. The solution helps the retailer improve its merchandising processes by gaining earlier visibility into underperforming merchandise. This allows the company to take quicker action and increase inventory turnover to help provide customers with the best selections and value from season to season.
"As we continue to grow our business, markdown optimization is critical," said Robert Glass, President and Chief Operating Officer of Loehmann's Inc. "The Oracle Retail solution is an important part of our strategy and has contributed to making our business more profitable."
Oracle Retail Price Optimization analyzes consumer demand, inventory levels, store performance and other factors to predict when a retailer should markdown prices and by how much. Merchants use the tool to set price points and issue markdowns that will help to achieve the best possible margins while selling through inventory before the end of the season or product lifecycle.
"Loehmann's has been tremendously successful in using our software to generate insight and provide value to its customers," said Duncan Angove, General Manager and Senior Vice President, Oracle Retail. "We are focused on creating a positive financial impact on our customers' businesses and Loehmann's use of Oracle Retail Price Optimization provides further evidence that we are delivering."
About Oracle Retail
Oracle is the number one provider of innovative and comprehensive industry software solutions for retailers - enabling organizations to serve their customers better by applying insight into daily business decisions for more profitable results. With software that provides supply chain, operations, merchandising, store systems, optimization and information technology solutions, Oracle partners with the world's leading retail companies, including 17 of the top 20 retailers worldwide, to transform the economics of their businesses.
About Oracle
Oracle (NASDAQ: ORCL) is the world's largest enterprise software company. For more information about Oracle, please visit our Web site at http://www.oracle.com
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Trademarks
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