Computer-Aided-Tracking Helps Reduce Shrink
Cambridge, Mass. – IntelliVid, the leading provider of video intelligence software for retail loss prevention and customer insight, received a patent covering the underlying camera adjacency algorithm used in its Computer Aided Tracking (CAT) tool.
IntelliVid is the only video analytics provider with a proven capability to track suspects and customers throughout their entire in-store experience. This patent is significant because the CAT technology, included as part of IntelliVid’s Video Investigator software, plays an important role in helping loss prevention teams combat organized retail crime and assisting retail merchandisers in better understanding in-store customer behavior.
Loss prevention teams at leading retailers use IntelliVid’s CAT to reduce bad stops of innocent customers and to create compelling evidence videos of shoplifting suspects. Fast access to these door-to-door evidence movies improves law enforcement’s ability to hold and convict serial shoplifters or members of organized retail crime rings. Retail merchandisers take advantage of CAT to understand customer traffic flows in their stores and improve merchandise placement. The underlying data collected by the CAT algorithm also provides retail store designers with unique feedback about how to achieve localization of store planograms—adapting layouts to the unique needs of customers in each community.
IntelliVid’s newly patented CAT technology uses sophisticated video analytics to track the movements of every person, on every camera in every store. This information allows the system to guide the loss prevention or merchandising professional in following a suspect or customer throughout the store. As the person exits a single camera view, the CAT technology alerts the operator to the most likely camera the person will appear on next. While the operator tracks suspects or customers across cameras, IntelliVid’s Video Investigator software instantly creates an end-to-end movie of their travels. The CAT technology is unique because it requires no pre-configuration and can automatically adapt to the changes in floor plans and store layouts that are common in retail. Operators can use CAT on live and recorded video and track people across cameras going forward or in reverse.
Walgreen’s 4Q Drops
CHICAGO One of the nation’s biggest drug store chain operators announced that its fourth-quarter profit dropped nearly 4%, according to Monday’s reports.
Walgreens explained that because of lower reimbursements for popular generic drugs and increased store and staff costs, their net income tumbled.
According to the company’s earnings report, total expenses increased by more than 11% to $12.8 billion, which chairman Jeffrey Rein said was out of line with reimbursements the company received. Prescription sales accounted for nearly two-thirds of the company’s business.
“Managing both expenses and lower reimbursements on some generic drugs is my top priority,” he said in a company release. “We’re going to fix this, and at the same time continue our aggressive growth plan.”
While company’s revenues rose more than 10% to $13.4 billion from $12.2 billion, its net income slipped to $396.5 million, compared to $412.3 million earnings at the same time last year.
For the year, the company said that its earnings increased by to $2.04 billion ($2.03 per share), compared with $1.75 billion ($1.72 per share).
Jonathan Adler creates giftware line for B&N
NEW YORK Barnes & Noble is teaming up with ceramist Jonathan Adler for a new collection this fall.
According to reports, the line will launch in 400 stores on Oct. 20, and will include items such as an umbrella, mug and a vase made exclusively for Barnes & Noble. The collection will range in price from $5.95 and $29.95.