Design Within Reach selects NetSuite
Stamford, Conn. — Design Within Reach, Inc., a multi-channel retailer of modern furniture, selected NetSuite as its core business management platform to support the company’s growth. Design Within Reach plans to begin by leveraging NetSuite to power its core financials/ERP, inventory management, point-of-sale and order management processes.
Design Within Reach is replacing a homegrown, on-premise ERP system that lacked the integration and functionality critical for growth and satisfying both consumers and B2B clients, including the nation’s leading hospitality brands. NetSuite’s unified data set can give management access to real-time customer, financial, sales, orders and inventory information to power operations in an omni-channel retail environment that includes an e-commerce storefront; 40 retail studios across the U.S., Canada and Mexico; and a retail outlet in Secaucus, N.J.
"We’re thrilled with the rich end-to-end functionality that NetSuite offers retailers and with the company’s vision for enabling retailers to deliver a true omnichannel brand experience that drives customer loyalty and sales," said Design Within Reach CFO Lorraine DiSanto. "We’re confident that with NetSuite, we now have an innovative and scalable cloud platform to streamline our operations, make informed business decisions and fuel growth by better serving our customers."
Symphony EYC introduces category management platform
Palo Alto, Calif. – Symphony EYC is introducing Symphony EYC Insights 2 Execution, a new cloud-based category collaboration platform that enables retailers and CPG manufacturers to adopt best practices in category management. The platform’s initial release, iAssort, provides users with browser-based access to their information to build strategic localized assortments that are space-aware.
With assortment driven by customer behavior and segmentation aligned with physical store constraints and merchandising rules, the Symphony EYC solution integrates assortment and space to make planning more relevant to customers and the overall store. Specifically, it enables planners to:
- Create customer segmentations informing store clustering and localized assortment plans.
- Utilize customer metrics and preferences to drive localized assortments and planograms via the Web.
- Identify cross-category dynamics that generate revenue opportunities.
- Build optimized and relevant product assortments that are customer, space and inventory aware.
- Achieve full insight into the retail execution lifecycle.
“Symphony EYC’s new space-aware assortment solution iAssort harnesses customer preferences together with product sales, loyalty and segmentation information so that retailers can make it easier for customers to find what they need,” said Ellen Dixon, global senior VP of marketing, Symphony EYC. “Our new cloud-based Insights 2 Execution platform helps retailers and FMCG manufacturers overcome multiple space and assortment challenges by integrating disparate data sources, assortment and space localization goals, task automation and vendor collaboration effectively in one location.”
Hess files to spin off retail business
New York — Hess Retail Corporation, a wholly-owned subsidiary of global energy company Hess Corporation, has filed a Form 10 Registration Statement with the U.S. Securities and Exchange Commission. The form contains a preliminary information statement about the potential terms and conditions of a spin-off of Hess Retail Corporation to the stockholders of Hess Corporation.
It also includes information about Hess Retail Corporation as a standalone company, including financial, capital structure, business, risk factor and management and governance information. Hess Corporation has received a Private Letter Ruling from the Internal Revenue Service that will allow it to distribute the business to stockholders in a tax-free spin-off.
Simultaneous with pursuing a spin of the retail business, Hess Corporation will also solicit offers to purchase the entire retail business from potential buyers. Following receipt of any such offers, the Hess Corporation board of directors will determine which alternative it believes best serves the long-term interests of all Hess Corporation stockholders.