THE RETAIL EQUATION PARTNERS WITH MICROS-RETAIL TO SPEED RETURN OPTIMIZATION INTEGRATIONS AND ROLL-OUTS

 

IRVINE, Calif. (Jan. 12, 2009) — The Retail Equation, the industry leader in retail transaction optimization solutions, announced it has entered into a partnership with MICROS-Retail, the retail solutions division of MICROS Systems Inc., which includes subsidiary companies Datavantage, CommercialWare and eOne Group. The agreement will extend The Retail Equation’s Verify-1® and Return Rewards® solutions to MICROS-Retail’s diversified international customer base.

Through this alliance, The Retail Equation’s applications are already integrated into MICROSRetail’s Store21® point-of-sale application, and are scheduled for integration into the Xstore™ and Tradewind® POS products. Retailers benefit from a seamless integration into The Retail Equation’s return optimization functionality directly through the POS to store associates via simple on-screen prompts.

“The integration between Store21 and The Retail Equation speeds up the returns process in our stores,” said Mike Smith, senior vice president of Loss Prevention for Finish Line, which uses the system in its 790+ stores nationwide. “It also ensures that our associates follow the proper procedures to help us maximize the incremental revenue benefits from return optimization.”

“We are pleased to partner with MICROS-Retail, an industry leader that currently serves more than 500 brands,” said Mark Hammond, chairman and CEO of The Retail Equation. “The relationship offers MICROS-Retail’s extensive client base integrated access to The Retail Equation’s advanced return optimization solutions – making roll-outs easier, faster, and more convenient than ever before.”

MICROS-Retail solutions are installed in more than 20,000 stores in 10 countries, processing over 10 million consumer transactions annually. Their extensive client roster includes household names such as Patagonia, Abercrombie & Fitch, Party Land, Chico's, J.Jill, Ritz Camera and Helzberg Diamonds. The company offers a comprehensive suite of products — including web commerce, point-of-sale, order management, customer service, inventory and fulfillment systems, business analytics, loss prevention and marketing applications — along with an array of professional services to support customers from implementation to extension and growth.

The Retail Equation’s Verify-1 software system is designed to identify return fraud and abuse, a $15.5 billion per year problem in the United States. As part of the Verify-1 service, The Retail Equation is contracted by retailers to gather their return information, store it securely, and analyze the data to develop and follow return policies for those retailers. Return Rewards is an intelligent system designed to provide incentive to the customer to continue shopping in the store once a return transaction is complete.

About MICROS-Retail
MICROS-Retail (the new retail solutions division of MICROS Systems Inc. which includes its subsidiary companies Datavantage, CommercialWare, eOne Group, and Redsky IT), is the leading worldwide provider of comprehensive, best in class solutions for the worldwide retail and direct markets, enables retailers to deliver on the customer experience while optimizing operational efficiency across all channels. MICROS-Retail offers a full suite of solutions in a choice of deployment options. Java technology, rich functionality, support flexibility and successful experience in demanding environments explain why hundreds of retailers around the world rely on MICROS-Retail to strengthen their businesses and deliver results. For more information, visit www.micros-retail.com.

About the Retail Equation
The Retail Equation, headquartered in Irvine, Calif., is the industry leader in retail transaction optimization solutions. The company’s applications use statistical modeling and analytics to predict consumer behavior, and its software-as-a-service delivery enables retailers to achieve significant and measurable return-on-investment. Its solutions are operating in over 12,000 stores in North America, supporting a diverse retail base of specialty, department, sporting goods, auto parts and more. The Return Rewards® solution creates sizeable incremental sales at the return counter, while also building customer loyalty. Both Verify-1® and Receipt Verification™ prevent fraudulent and abusive returns, reducing return rates and saving millions of dollars annually for retailers.