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Linens 'n Things Selects 4R Systems
to Enhance Retail Supply Chain Decision Making
Satisfied user moves forward following successful pilot program; National retailer to fully implement customized 4R software for managing thousands of SKUs and optimizing stock levels of best-selling items
CLIFTON, NJ and WAYNE, PA, September 17, 2002 - Linens ’n Things, Inc. (NYSE: LIN), one of the leading national large-format retailers of home textiles, housewares and decorative home accessories, and 4R Systems, Inc. today announced that Linens ’n Things will use the 4R Supply Planning Product Suite to optimize the supply chain for its national network of more than 365 superstores. 4R's analytical software is designed to increase the profitability of short lifecycle products by enabling retailers to accurately match supply with demand during each stage of the product lifecycle, from merchandise test to markdown.
"We made the decision to go forward to fully implement the software from 4R Systems after a successful live pilot that demonstrated a decrease in lost sales while also being able to reduce our inventory investment," said Jeffrey L. Steinhorn, Linens ’n Things' Senior Vice President and CIO. "The ability to offer our guests a broad and deep selection of quality merchandise at exceptional value - and ensure that they can find what they want, when they want it - requires a sophisticated supply chain management approach. By feeding our point-of-sale data into 4R System's algorithms, we will be able to forecast, plan and replenish more accurately at each store."
4R's customized software will be used to forecast and plan inventory stock levels for more than 25,000 SKUs, representing a wide variety of products with varying degrees of demand and impacted by such variables as seasonality and promotions. It is also designed to help Linens 'n Things plan new product introductions and rollouts as the retailer pursues its growth strategy based on aggressive expansion into new market segments.
"We're working now to integrate our tools seamlessly into Linens 'n Things existing ERP system," said Jeff Singer, CEO at 4R Systems. "Our solutions work well in retail environments where quick implementation and highly accurate results are top priorities."
About Linens 'n Things
Linens 'n Things, Inc., with 2001 net sales of $1.8 billion, is one of
the nation's largest and fastest growing specialty retailers of home textiles,
housewares and decorative home accessories. As of June 29, 2002, the company
operated 367 stores in 43 states and in four provinces across Canada. More
information about Linens 'n Things can be found online at www.linensnthings.com.
About 4R Systems
4R Systems, Inc. is a leading provider of analytical software that allows
retailers and manufacturers to increase the profitability of short lifecycle
products by accurately matching supply with demand. 4R's products leverage
transactional and point-of-sale (POS) data and turn it into critical decision-making
information for forecasting and supply planning. The company was founded by
supply chain experts Marshall Fisher of The Wharton School and Ananth Raman
of Harvard Business School, whose groundbreaking research on product lifecycles
with over 30 world-class retailers pioneered the retail analytics sector.
4R is based in Wayne, Pennsylvania, and has offices in Boston, Washington, D.C. and Milan. Clients include Ahold, American Pacific, Kenneth Cole, Nokia and Stride Rite. For more information, please visit www.4rsystems.com or call 1-866-4RSYSTEMS.
Forward Looking Statement
This press release in regards to Linens 'n Things ("the Company") contains
forward-looking statements within the meaning of The Private Securities Litigation
Reform Act of 1995. The statements are made a number of times and may be identified
by such forward-looking terminology as "expect," "believe," "may," "will,"
"could," "intend," "plan," "target" and similar statements or variations of
such terms. All of our "outlook" information constitutes forward-looking information.
All such forward-looking statements are based on our current expectations,
assumptions, estimates and projections about our Company and involve certain
significant risks and uncertainties, including levels of sales, store traffic,
acceptance of product offerings and fashions, the success of our new business
concepts and seasonal concepts, the success of our new store openings, competitive
pressures from other home furnishings retailers, the success of the Canadian
expansion, availability of suitable future store locations, schedule of store
expansion and of planned closings, the impact of the bankruptcies and consolidations
in our industry, the impact on consumer spending as a result of a slowing
consumer economy and a highly promotional retail environment. Actual results
may differ materially from such forward-looking statements. These and other
important risk factors are included in the "Risk Factors" section of the Company's
Registration Statement on Form S-3 as filed with the Securities and Exchange
Commission on June 18, 2002, and may be contained in subsequent reports filed
with the Securities and Exchange Commission. You are urged to consider all
such factors. In light of the uncertainty inherent in such forward-looking
statements, you should not consider their inclusion to be a representation
that such forward-looking matters will be achieved. The Company assumes no
obligation for updating any such forward-looking statements to reflect actual
results, changes in assumptions or changes in other factors affecting such
forward-looking statements.
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