Family Dollar Stores renews software agreement with Revionics for price optimization
Roseville, Calif. — Family Dollar Stores is renewing its software contract with Revionics, which provides end-to-end merchandise optimization solutions, the supplier announced. The multi-year agreement will extend the retailer’s services with Revionics’ price optimization solutions, with Family Dollar leveraging Revionics’ solutions in each of its more than 7,600 stores in 45 states.
“As one of the fastest growing discount retailers in the United States, we rely on our partners to deliver innovation to support our growth and success so that we can focus on providing more value to our customers,” said Mike Bloom, president and COO, Family Dollar. “Over the past three years, Revionics has proven that they are a great partner for Family Dollar through their cutting-edge technology and pricing analytics that protects our strong value perception while assisting us to improve our profitability.”
After an extensive search in 2009, Family Dollar selected Revionics price optmization solutions for base-price management and optimization as part of their merchandising initiative, Project Accelerate, which focused on a merchandising transformation in pricing, space productivity, assortment planning, and workflow capabilities. For this major initiative, Revionics’ solution provided Family Dollar with sophisticated price optimization software to support their market growth plans, expanded product mix and shopper-centric everyday value pricing.
In addition, Revionics is helping Family Dollar balance competitive and value-based pricing with profitability.
American Eagle Outfitters takes over ownership of Chinese stores
PITTSBURGH — American Eagle Outfitters has agreed to a mutual termination of its license agreement in China, Hong Kong and surrounding markets with Dickson Concepts (International) Limited. Consistent with its long-term global expansion strategy and the importance of this market, the company took the opportunity to exit its agreement and will assume operation of six existing stores in China and Hong Kong.
“As we look toward future global expansion, Greater China presents an important growth market with sizeable economic potential, where a company-owned model is preferred for our brands. We thank Dickson Poon and his team for their contributions these past few years," said CEO, Robert Hanson. “Our global expansion plans include a blend of company-owned stores, joint ventures and licensed agreements. We believe this approach will provide the very best brand and product driven omni-channel customer experience, while also providing strong returns to our shareholders.”
American Eagle Outfitters will be opening company-owned stores in Mexico and licensed stores in the Philippines beginning this month, and has successfully licensed stores in Japan, Russia, Eastern Europe, Israel and the Middle East. American Eagle Outfitters currently has international presence in 13 countries and ships online to 77 countries.
Report: Fidelity takes 10% stake in C.Wonder
New York — Fidelity, the Boston-based investment firm, has bought a 10% stake in C. Wonder, according to Women’s Wear Daily. Founded by Christopher Burch in 2011, the company has since expanded to 10 locations and also operates pop-up stores.
Burch has big plans for C.Wonder, which sells a mix of apparel, accessories and home goods, all under its own label. According to previous reports, he plans to expand it to 50 to 100 stores by the end of 2014, including locations abroad.