From the Wires
Family Dollar Renews Multi-Year Software Agreement With Revionics
By: Business Wire
Feb. 5, 2013 06:01 AM
Revionics, Inc., the leading provider of End-to-End Merchandise Optimization solutions, announced today that Family Dollar Stores, Inc. (FDO), one of the fastest-growing discount retail chains in the country, is renewing its software contract with Revionics. This renewal agreement will extend Family Dollar’s services with Revionics® Price Optimization. Family Dollar will be leveraging Revionics’ solutions in each of its more than 7,600 stores in 45 states.
“As one of the fastest growing discount retailers in the United States, we rely on our partners to deliver innovation to support our growth and success so that we can focus on providing more value to our customers,” said Mike Bloom, Family Dollar President and COO. “Over the past three years, Revionics has proven that they are a great partner for Family Dollar through their cutting-edge technology and pricing analytics that protects our strong value perception while assisting us to improve our profitability.”
After an extensive search in 2009, Family Dollar selected Revionics® Price Optimization for base-price management and optimization as part of their merchandising initiative, Project Accelerate, which focused on a merchandising transformation in pricing, space productivity, assortment planning, and workflow capabilities. For this major initiative, Revionics’ solution provided Family Dollar with sophisticated price optimization software to support their market growth plans, expanded product mix and shopper-centric Everyday Day Value Pricing (EDVP). In addition, Revionics is helping Family Dollar balance competitive and value-based pricing with profitability.
“We are extremely excited to renew and expand our partnership with Family Dollar,” said Marc Hafner, President and CEO of Revionics. “We are very proud to have helped Family Dollar offer extremely competitive and ‘value-based’ pricing to their customers and look forward to helping them maximize inventory value, increase value perception, brand awareness and loyalty with our Life Cycle Price Optimization solutions.”
About Revionics, Inc.
Revionics delivers the industry’s most powerful End-to-End Merchandise Optimization solution, enabling retailers of all sizes to execute a fact-based Omni-channel merchandising strategy utilizing the most comprehensive set of shopper demand signals to enhance financial performance with improved customer satisfaction. Revionics’ solutions leverage advanced predictive analytics and demand-based science to ensure retailers have the right product, price, promotion, placement and space allocation for optimal results across all touch points in the Omni-channel shopping episode – online, in-store, social and mobile. Offered on a scalable, high performance Cloud-based SaaS platform, these solutions future-proof retailers from Big Data/Fast Data challenges, while providing speed-to-ROI. Over 31,000 retail locations and $95B in annual revenue across grocery, drug, building materials, convenience, general merchandise, discount, sporting goods stores and eCommerce sites optimize with Revionics’ solutions. Revionics has been recognized as a 2012 Deloitte Technology Fast 500™, Red Herring Top 100 Global, Red Herring Top 100 Americas and JMP Securities’ Hot 100 Software Company. For more information, please visit www.revionics.com.
About Family Dollar
Beginning with one store in Charlotte, North Carolina, in 1959, the Company currently operates more than 7,600 stores in 45 states. Family Dollar Stores, Inc., a Fortune 300 company, is based in Matthews, North Carolina, just outside of Charlotte and is a publicly held company with common stock traded on the New York Stock Exchange under the symbol FDO. For more information, please visit www.familydollar.com.
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