Belk Selects Oracle® Retail Markdown Optimization to Enhance the Customer Shopping Experience and Improve Performance
Nation’s Largest Privately-Owned Department Store to Use Oracle Retail Application to Help Preserve Margins and Ensure Smooth Transitions Between Seasons
Redwood Shores, CA – July 21, 2009
Belk Inc, the nation’s largest privately-owned mainline department store company, has selected Oracle® Retail Markdown Optimization to help improve sell-through of seasonal merchandise, preserve margins and improve performance across its more than 300 department store locations.
For Belk, the Oracle Retail Markdown Optimization implementation is part of a broader strategic initiative which the retailer expects will continue to enhance the customer shopping experience and improve performance and profitability.
Belk evaluated competing solutions and selected the Oracle Retail application based on Oracle’s fast deployment model, its proven track record with retailers already using the application, its depth of retail expertise and the application hosting and management features provided by Oracle On Demand.
Belk expects to use Oracle Retail Markdown Optimization to create short-term value by improving inventory management, driving sell through of seasonal merchandise and preserving margins.
Oracle Retail Markdown Optimization provides merchants and price analysts with customer demand insight and optimization to help drive sales and clear merchandise profitably, while creating space for fresh, full-price items as they come into stores.
Belk also selected Oracle technology solutions including the Oracle Database. The solutions are part of the retailer’s long-term plan to establish a single, integrated retail platform that provides the company greater flexibility and scalability for growth.
“Oracle brings a depth of retail expertise that is evident in both the solutions and the way that they are deployed,” said David Zant, EVP and General Merchandising Manager for Men’s and Home at Belk. “We are excited about bringing the Oracle Retail Markdown Optimization tool to our merchants and expect to use it to improve the way that we manage inventory, sell-through and margins across our seasonal merchandise."
“We selected Oracle based on its rapid deployment model, proven track record, and the fact that its software solutions fit within our long-term strategy for a single, integrated information technology platform,” said Roddy Kerr, EVP and CIO at Belk.
“Belk is one of today’s impressive success stories in department store retailing. The Oracle Retail Markdown Optimization application helps provide the company with a rapid path for new value creation within the business, and establishes a platform for long-term growth and agility that can serve as an important competitive differentiator,” said Duncan Angove, Senior Vice President and General Manager, Oracle Retail.
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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 as well as enterprise applications and infrastructure software, Oracle partners with the world’s leading retail companies, including 20 of the 20 top retailers worldwide, to transform the economics of their businesses.
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