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ALCO Stores, Inc. Partners with Revionics, Inc. to Provide Life Cycle Price Optimization Across All Its Stores
By: Business Wire
Jan. 9, 2013 08:31 AM
ALCO Stores, Inc. (Nasdaq: ALCS), which specializes in providing a superior selection of essential products for everyday life in small-town America, and Revionics, Inc., the leading provider of End-to-End Merchandise Optimization solutions, today announced a multi-year partnership which will support optimal pricing decisions throughout ALCO’s 217 stores. Revionics® Life Cycle Price Optimization solutions and Analytic Services will enable ALCO Stores to design and execute regional, localized pricing initiatives, timing of markdowns, promotional pricing and analysis of customer market baskets and key volume items.
Rich Wilson, president of ALCO Stores, Inc., said, “We are excited about our new partnership with Revionics and expect their proprietary software to help us improve gross margins, increase average basket, and enhance returns for ALCO shareholders. Over the next several months we will implement the Revionics technology, which we anticipate will lead to a positive impact on profitability later in fiscal 2014 and beyond.”
“We are proud to work with visionary retailers, such as ALCO, who understand the value of implementing shopper-centric pricing strategies throughout their entire store base,” stated Marc Hafner, Revionics President and Chief Executive Officer. “We are confident that by leveraging our full suite of Life Cycle Price Optimization solutions and our Analytic Services, ALCO will see a strong and fast ROI.”
Today’s retailers are facing intense competition and price-conscious, informed shoppers that rapidly shift their buying behavior. Revionics’ SaaS-based Life Cycle Pricing solutions integrate shopper-centricity and localization into a retailer’s pricing, promotion and markdown planning strategies and tactics. By incorporating the voice of the shopper, ALCO Stores will be able to better predict and respond to shopper demand and behavior with adjoining improvements in customer loyalty and increases in market basket size, gross margins and profits.
About ALCO Stores, Inc.
ALCO Stores, Inc. is a broad-line retailer primarily located in small, underserved communities across 23 states. The Company has 217 ALCO stores that offer both name brand and private label products of exceptional quality at reasonable prices. We are proud to have continually provided friendly, personal service to our customers for the past 111 years. To learn more about the Company, visit www.ALCOstores.com.
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.
This press release contains forward-looking statements, as referenced in the Private Securities Litigation Reform Act of 1995 (“the Act”). Forward-looking statements can be identified by the inclusion of “will,” “believe,” “intend,” “expect,” “plan,” “project” and similar future-looking terms. You should not rely unduly on these forward-looking statements. These forward-looking statements reflect management’s current views and projections regarding economic conditions, retail industry environments, and the Company performance. Forward-looking statements inherently involve risks and uncertainties, and, accordingly, actual results may vary materially. Factors which could significantly change results include but are not limited to: sales performance, expense levels, competitive activity, interest rates, changes in the Company’s financial condition, and factors affecting the retail category in general. Additional information regarding these and other factors may be included in the Company’s 10-Q filings and other public documents, copies of which are available from the Company on request and are available from the United States Securities and Exchange Commission.
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