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Industry News - May 16, 2008



Russell’s Convenience Stores Enhance POS

More than a dozen Russell’s Convenience Store locations implement Wincor Nixdorf's  BEETLE hardware and NAMOS software solutions. Russell’s will use the system to help create an efficient c-store POS experience. By integrating the company’s proprietary Tenderfoot back office suite, Russell’s has access to real-time POS data that is used to make business decisions throughout its network of stores.

Russell’s chose Wincor Nixdorf’s retail solutions based on the company’s ability to integrate with the existing Tenderfootplatform. Following a three-month testing period, they were able to deliver a full store implementation in a span of seven days as opposed to the six-week implementations Russell’s had experienced in the past with a previous supplier. 

“After implementation, we quickly realized POS transaction time improved by nearly 40 percent, which, in our retail landscape, is a very significant improvement,” said Ray Huff, president of Russell’s parent company HJB Convenience. “Also, by integrating our Tenderfoot back office solution with Wincor Nixdorf’s NAMOS software, our closing process immediately ran significantly faster, saving nearly a half hour per day, per store and reduced wages across our chain.”


Boot Barn Implements SaaS Platform

Boot Barn selects Epicor Retail Software as a Service (SaaS) solution to streamline its retail operations and support its long-term growth plans. To support its current growth strategy, Boot Barn sought an end-to-end fully integrated, retail solution to replace existing disparate systems and in doing so, eliminating the manual processes required to integrate and share data among these systems. To this end, Boot Barn chose the Epicor Retail SaaS solution to provide the infrastructure and retail best practices to support its strategic growth. 

The “pay as you go” SaaS pricing model helps eliminate the need to amortize the cost of “traditional” software licenses, providing total cost of ownership advantages as a result. The Epicor SaaS solution for retail includes the associated implementation and integration services, support and maintenance as well as ongoing updates and upgrades.


Overstock.com Unveils Plans to Sell Internationally

Overstock.com offers its discount, brand-name merchandise for sale to consumers outside of theU.S.  Overstock.com's expands internationally by integrating FiftyOne Global e-commerce solution by E4X. 

FiftyOne Global e-commerce helps simplify international e-commerce for both retailers and consumers. Shoppers visiting a retailer's U.S.-based e-commerce site from outside theU.S. are shown only the merchandise, pricing, and delivery options available in their country. Meanwhile, to the retailer, international sales are managed to look the same as any domestic sale. The FiftyOne solution addresses various aspects of the international transaction - including local country merchandising, multi-currency payments, global logistics and delivery, and post-sale customer support.

"E4X understands our position as an online retailer," said Patrick Byrne, Chairman of the Board and CEO of Overstock.com." The FiftyOne solution provides the best possible experience for our future international customers.

Retailers Cash in on $150 Billion Tax Rebate Bonanza

Roughly $150 billion dollars will be distributed to American consumers over the next couple of weeks, as part of the government's initiative to boost the economy. As consumers make plans to cash their stimulus checks, retailers also are making plans to cash in. Here's a look at who's doing what to capture the biggest share of these disposable income checks.

The National Retail Federation conducted a survey of nearly 8,000 consumers that found that 40.6 percent of respondents are allocating their rebates to "purchasing something they would not have otherwise purchased without the help of the rebate check." NRF estimates this translates into $43 billion of unplanned, incremental spending due to the Act, and only $20 billion will be saved. The first round of checks (mailed out on May 2, 2008) have led retailers to believe and anxiously anticipate an upturn in consumer spending.

RSR Research, along with Manhattan Associates, conducted an online survey of 95 retailers and found that 35 percent plan to capture consumer spending from the stimulus plan. According to the survey, big box retailers plan to do the most, with 78 percent of big box specialty retailers planning to take advantage of the additional consumer spending and 55 percent of general merchandise and apparel retailers.


True Religion Apparel Reports 2008 First Quarter Financial Results  

True Religion Apparel announces financial results for the first quarter ended March 31, 2008.

Net sales for the 2008 first quarter were $53.4 million, an increase of 47.4% from $36.2 million in the 2007 first quarter. Net sales in the Companys U.S. wholesale segment increased 29.5% to $32.5 million from $25.1 million in the prior year. The Companys international wholesale business increased 28.5% to $8.9 million from $6.9 million in the 2007 first quarter. Net sales for the consumer direct segment, which includes the Companys branded retail stores and e-commerce site, increased 190.3% to $11.8 million from $4.1 million in the prior year.

Net income for the 2008 first quarter was $6.9 million, or $0.29 per diluted share based on weighted average shares outstanding of 24.1 million, compared to $5.2 million, or $0.22 per diluted share based on weighted average shares outstanding of 23.8 million in the 2007 first quarter.

The first quarter of 2008 marked a continuation of the strong growth True Religion delivered in the second half of 2007, said Jeffrey Lubell, chairman and chief executive officer of True Religion Apparel. We achieved year over year revenue growth of 47% thanks to the positive customer response to our spring 2008 collection. Our first quarter results reflect the continued execution within each of our major growth platforms, as we exceeded our internal expectations of our U.S. wholesale business, improved our international performance, and continued to provide our customers with an expanding assortment of sportswear product offerings to complement our core premium denim jean collections. We are confident that we are moving in the right direction to establish True Religion as a truly global, aspirational brand.

During the 2008 first quarter, True Religion opened 3 new stores, bringing its total store count as of the end of the first quarter to 18 stores. To date in the second quarter, the Company has opened seven new stores, bringing the total store count to 25 stores as of May 8, 2008. The Company anticipates opening at least 10 additional new stores before the end of the year, for a total of at least 35 stores by year end 2008.


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