Island Pacific (AMEX: IPI), announced today the signing of an unrestricted license agreement with Christopher & Banks Corporation (NYSE: CBK), a leading retailer of women’s clothing.
The agreement covers Island Pacific’s Merchandise Management System demand chain solution running on an IBM iSeries platform. The system has been employed by Christopher & Banks for 5 years. “Island Pacific has been a key technology partner,” said Tom Guetter, VP Information Technology, Christopher & Banks Corporation. “Through the years, IP has consistently brought us the technological solutions that we have needed to keep our retail operations running at peak efficiency. Our plans to continue working with Island Pacific have led to the signing of this new agreement.”
“In this unforgiving retail environment, Christopher & Banks reported higher first quarter profits as the company opened new stores and maintained its merchandise margins,” said Steve Beck, Island Pacific president and chief operating officer. “This is a company that knows how to run a tight ship. We are confident that if our solutions can meet the tough standards of retailers like Christopher & Banks, we can take on the challenges of just about any retailer.”
About Christopher & Banks Christopher & Banks Corporation is a Minneapolis-based specialty retailer of women's clothing providing exclusive fashions under the Christopher & Banks and C.J. Banks labels. Currently, the Company operates 482 stores in 41 states, located primarily in the northern half of the United States. For more information on Christopher & Banks Corporation, visit the Company's website at www.christopherandbanks.com.
About Island Pacific For more than 25 years, Island Pacific has developed a reputation for delivering high-quality, high-reliability software to the retail industry. Recently, the company has transformed itself into the low-cost, high-value provider of retail enterprise solutions by developing breakthrough technologies, and by partnering with leading consulting organizations to provide next-generation services. In addition, Island Pacific leverages its years of experience with emerging and established retailers to craft creative solutions tailored for each customer’s needs. As a result, Island Pacific is the definitive resource for scalable, flexible and affordable solutions for retailers around the world.
Certain statements contained in this news release regarding matters that are not historical facts are forward-looking statements. These statements relate to future events or the Company's future performance. These statements are only predictions. Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the risk factors listed in the Company's (SVI) Form 10-K for the fiscal year ended March 31, 2003 and other risk factors identified from time to time in the Company's filings with the Securities and Exchange Commission. IPI undertakes no obligation to release publicly any revisions to the forward-looking statements to reflect events or circumstances after the date of this news release or to reflect the occurrence of unanticipated events.
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