Retek Inc. (Nasdaq: RETK – news) unveiled its newest marketplace on http://retail.com designed to serve the grocery and consumer packaged goods industries. The addition of the grocery marketplace on July 11 follows the recent launch of the jewelry and footwear marketplaces and, along with the apparel marketplace, is Retek’s fourth such venture on retail.com.
The retail.com Grocery Marketplace will provide grocers and their suppliers with the best technology infrastructure married with the latest industry-specific news and information needed to bring them closer to their consumers, increase revenue and enhance margin performance. This move is a significant step Retek is making as it plays a larger role in the booming grocery industry, a market opportunity estimated at $3.5 billion.
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Retek currently has several grocery initiatives underway including a strategic partnership with Great Atlantic and Pacific Tea Company (A&P) and IBM that involves the development of a Web-architected software solution designed specifically for the food and drug segment of retail. Retek’s other top grocery customers include Sonae in Portugal, NTUC Fairprice in Singapore and Despar in Italy.
“The launch of the Grocery Marketplace on retail.com is an extremely important step for us as we aggressively move forward in this industry,” said Retek CEO and chairman John Buchanan. “This new resource will deliver products and information that grocery retailers and suppliers want and need to collaborate in delivering increased value to the consumer. By delivering our proven technology infrastructure combined with rich content in areas such as store management, e-commerce, trade, manufacturing and consumer reports, our grocery industry customers will have a strong edge over their competitors.”
The Grocery Marketplace on retail.com will bring buyers and sellers together rapidly by utilizing Retek’s powerful set of collaborative category management applications and consumer packaged goods supply chain management tools in use today. Additionally, the Marketplace will deliver content through daily news feeds, global features and collaborative partnerships with industry experts such a Phil Lempert, the “Supermarket Guru.” Lempert is a nationally recognized expert in the food industry and is a regular contributor on NBC’s Today Show, CNBC, MSNBC, The Los Angeles Times and USA Weekend.
“I am thrilled to be a part of Retek’s retail.com community,” said Lempert. “Through my experience in this industry, I’ve found that many grocery retailers and suppliers simply don’t understand their consumers. This is an area I’ve been working in for over 20 years, and I hope to bring valuable consumer information to this marketplace to help Retek’s retail.com members become more successful.”
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By GlobalDataLempert and Retek representatives are currently promoting the new partnership and launch of the retail.com Grocery Marketplace at the 46th Annual International Fancy Food & Confection Show in New York sponsored by the National Association for the Specialty Foods Trade.
The news & resources for each of retail.com marketplaces is updated on a daily basis with new content from over 150 syndicated and custom news and event sources. All of the retail.com vertical marketplaces are available today at http://www.retail.com
About Retek Inc.
Retek Inc. delivers high capacity, full function business infrastructure exclusively for the changing world of retail.
Retek’s solutions deliver improved decision-making capabilities and operational efficiencies by enabling supplier network orchestration, multi-channel selling, and retail CRM. Retek solutions are available on client platforms, through retail.com — Retek’s Marketplace for the Retail Community — and via electronic exchanges operating Retek’s Retail Server.
Retek’s customers include A&P, AnnTaylor, Brooks Brothers, Family Dollar Stores, Kohl’s Department Stores, Bhs, Selfridges, Eckerd Corp., The Home Shopping Network and Fogdog Sports.
For more information, visit Retek’s web site at http://www.retek.com or call 877-362-2532. Retek can be contacted in Europe at +44-207-872-5795.
Trademarks
Retek and retail.com are trademarks of Retek Inc. Other names may be trademarks of their respective owners.
Forward-looking statements contained in this press release are made under the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. Such factors are described from time to time in the company’s Annual Report on Form 10-K and other reports filed with the Securities and Exchange Commission.
For more information, contact Media Relations, George Beard, 612-632-8063, george.beard@retek.com , or Investor Relations, Bob Kleiber, 612-632-8154, robert.kleiber@retek.com , both of Retek Inc.
