Oracle Retail Application to boost Goody's Family profitability
28 Mar '07
2 min read
Goody's Family Clothing, a retailer of moderately priced family apparel, has chosen Oracle Retail Price Optimization to help increase gross margin dollars through more effective inventory management across its more than 380 stores, Oracle announced. The Oracle Retail application will help the company's merchants more accurately forecast and will help improve predictability around promotional events.
Acquired in 2006 by GMM Capital and Prentice Capital Management, Goody's caters to value-conscious customers and provides a broad selection of merchandise. The specialty retailer features labels such as Adidas, Alfred Dunner, Carter's, Dockers, Lee, Levi's, Mudd, Nike and Reebok that consumers want and trust. Goody's also offers its own private labels for men, women and children that account for nearly a third of its overall business.
"Our focus on gross margin return on investment enabled us to build on Goody's strong foundation and perform according to our financial plans in 2006," said Isaac Dabah, Chairman of Goody's Family Clothing and CEO of GMM Capital. "We anticipate even better results this year and believe our investment in innovative technology from Oracle Retail will move the needle and make our business more profitable."
Oracle Retail Price Optimization analyzes consumer demand, inventory levels, store performance and other factors to predict when a retailer should markdown prices and by how much. Merchants use the tool to set price points and issue markdowns that will help to achieve the best possible margins while selling through inventory before the end of the season or product lifecycle.
marketing@alchempro.com
