Richmond, Calif. - January 24, 2002 - QRS Corporation (Nasdaq: QRSI), the market leader in e-commerce and supply-chain management solutions for the retail industry, announced today that Selfridges plc (London Stock Exchange: SLF), a leading European department store group, has selected QRS' Tradeweave* Product Catalog to serve as a key component of its business-to-business platform.
Containing more than 80 million U.P.C.'s, the Tradeweave Product Catalog is the retail industry's most comprehensive product information database. It allows retailers and vendors to synchronize product and pricing information via a secure network across all business processes, thereby helping them to quickly and dramatically improve performance. By using the Tradeweave Product Catalog, retailers and vendors can reduce operating costs, improve margins and improve inventories through the sharing of accurate data.
"Using QRS' product catalog means we can link to our key suppliers in order to reduce the purchase order cycle time and, therefore, improve lead time," said David Riddiford, the retailers buying and merchandising director.
"We are very pleased Selfridge's has selected QRS' Tradeweave Product Catalog to enhance its business-to-business platform,'' said Liz Fetter, president and CEO of QRS Corporation. "As we continue to integrate our leading-edge software solutions with the mission critical content contained in the catalog and leverage our customer-enabling capabilities to deliver rapid ROI to retail companies across the globe, we look forward to working with such an important retailer. This is an important further in our effort to expand our market-leading presence beyond North America."
QRS' Tradeweave Product Catalog, which supports over 600 product attributes including images, Web-ready content and ingredients, is the industry's only item data and price synchronization solution that can be used across all categories of merchandise, including apparel, consumer packaged goods, hardlines and other general merchandise. Currently, more than 3,000 companies worldwide use the catalog to synchronize product information, in accordance with industry standard communications and product attribute protocols, to cut procurement-cycle times, better manage inventory and reduce product time to market.
About Selfridges, plc
Selfridges is a leading UK department store that offers customers an extensive range of quality branded fashion and home merchandise, including top-name clothing, house wares and other home furnishings. Situated within a distinguished and spacious setting, the Selfridges food hall and array of attractive restaurants, bars and cafes complete the ultimate shopping experience.
Currently Selfridges has stores in London and Manchester, England, and plans to open a Birmingham store in fall 2003. The flagship London store, Selfridges Oxford Street, was established in 1909 and is currently the second largest department store within the UK, with more than 540,000 square feet of retailing space
About QRS QRS Corporation is the market leader in e-commerce and supply-chain management solutions for the retail industry. For 14 years QRS has helped its 4,000 customers increase revenues, decrease costs and reduce product cycle times. QRS' Tradeweave* Retail Network - an integrated suite of applications, business intelligence and messaging services - enables secure and profitable relationships among retailers, manufacturers and their trading partners. Dedicated solely to the retail industry, QRS has enabled more than 100,000 partnerships giving retailers and manufacturers a better way to plan, source, buy and sell, finance, track, price, merchandise and replenish products.
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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
This release contains forward-looking statements regarding future events and the future financial performance of QRS that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. Readers are referred to the documents filed by QRS with the SEC, specifically the most recent reports on Form 10-K, 8-K, and 10-Q, each as it may be amended from time to time, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including risks associated with general economic and political conditions, including further disruptions; specific conditions in the retail industry; competition; increased length of sales cycles for our Tradeweave products and services; reductions in information technology spending in the retail industry; dependence upon key customers and their trading partners; ability to introduce and market acceptance of new products and services; the ability to successfully integrate and manage acquired businesses and technologies; and dependence upon IBM for e-commerce services, among others. QRS assumes no obligation to update the forward-looking information contained in this news release. QRS' results of operations for the three and nine months ended September 30, 2001 are not necessarily indicative of QRS' operating results for the full fiscal year or any future periods.
The financial information contained in this release should be read in conjunction with the consolidated financial statements and notes thereto included in QRS' most recent reports on Form 10-K and Form 10-Q, each as it may be amended from time to time.
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