News

The Finish Line selects Oracle solutions to support growth strategy

BY Marianne Wilson

Redwood Shores, Calif. — As part of a larger initiative to upgrade the customer experience and localize offerings in its 640 stores nationwide. The Finish Line will roll out new Oracle Retail merchandising, planning, stores and CRM solutions. The athletic-goods retailer is leveraging Oracle’s cloud computing services in the process.

The Finish Line will use the integrated retail systems to tailor offerings to customer and regional preferences.

“The ability to gain insight into our customers’ preferences to make more informed merchandising decisions is a critical component of our strategy to exceed the expectations of our customers,” said Scott Hoffman, EVP, chief merchandise officer, Finish Line.

The combined Oracle solutions will allow the retailer to drive smarter decisions, optimize operations and improve the customer experience. The Oracle Retail applications will replace legacy systems that have been costly to maintain and slow to accommodate new business opportunities.

“We selected Oracle Retail because they can provide us with the breadth and depth of enterprise systems we need to support our growth,” said Terry Ledbetter, SVP, chief information officer, Finish Line. “In addition, we get a best-in-class retail solution set that helps us optimize operations and improve efficiencies across the business.”

The company plans to use Oracle Retail Stores solutions to improve the in-store experience and bring new stores online faster. As part of an integrated solution, Finish Line will also implement Oracle CRM to manage customer information, which will help drive merchandising decisions and improve the customer experience.

To maximize performance while reducing costs and decreasing the complexity of its IT infrastructure, Finish Line will also implement Oracle Exadata Database Machine and Oracle Exalogic Elastic Cloud.

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FINANCE

Cerberus reportedly seeking financing for Supervalu deal

BY Katherine Boccaccio

New York — Multiple reports on Monday suggested that private equity firm Cerberus Capital Management, which owns Albertsons LLC, may be putting together a deal to buy all or part of the grocery chain.

Cerberus is said to be seeking $4 billion to $5 billion in debt financing from banks to back a bid and is looking at investing $800 to $900 in equity in its takeover quest, a person familiar with the matter is reported to have said. That same source cautioned that the figures could change.

Supervalu put itself up for sale in July. Cerberus has been generating its own headlines of late, especially for its backing of Best Buy founder Richard Schulze in his attempt to acquire his old company.

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FINANCE

Coach exceeds profit expectations for Q1

BY Katherine Boccaccio

New York — Coach Inc. reported Tuesday that profit for the quarter ended Sept. 29 rose 3% to $221.4 million, compared with $215 million for the same period last year and beating Wall Street expectations.

Sales surged 11% to $1.16 billion, in line with forecasts, and same-store sales in North America rose 11%, bolstering the luxury retailer’s results for the quarter. In China, same-store sales also rose by double-digits.

“With regard to China, our position is an accessible luxury brand which means our price points are 40-60% lower than the average European luxury brands,” Lew Frankfort, CEO, said. “So our products are more in reach for the emerging middle class.”

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