Cincinnati, OH – Jan. 5, 2011 — Discount retailer Fred’s Inc. of Memphis, Tenn. (NASDAQ: FRED) has selected KSS Retail as its provider of price modeling, forecasting and price optimization. Fred’s, with more than 670 stores and 300 pharmacies throughout 15 states, will utilize KSS Retail’s PriceStrat solution to optimize pricing and promotions to enhance its competitive position and deliver customer value.
“KSS Retail and its PriceStrat solution are a great fit for our merchandising operations. With PriceStrat, we can enhance our overall price image, and provide the most competitive prices possible for our customers,” said Bruce A. Efird, chief executive officer of Fred’s. “In addition, the ability to optimize both regular and promotional pricing together gives us a more comprehensive understanding of our customers’ shopping needs and behaviors.”
PriceStrat is KSS Retail’s integrated software application that manages both regular and promotional pricing and enables retailers to model what-if pricing scenarios for store products, facilitating pricing decisions that are more timely and effective in optimizing sales and value for customers.
“PriceStrat helps retailers like Fred’s enhance their pricing operations and explore which pricing and promotions strategies work best – both at the headquarters and store levels,” said Lance Jacobs, chief executive officer of KSS Retail. “Fred’s is one of the most respected discount merchants in the retail industry, and we’re happy to partner with them in this endeavor.”
KSS Retail, a dunnhumby Ltd. company, provides regular and promotional price optimization, market basket analytics and other services to leading retailers including 7-Eleven, O’Reilly Auto Parts, Raley’s, McKesson, Sonae, and many others. KSS Retail will be showcasing at the National Retail Federation (NRF) national convention in New York, Jan. 10-11, booth #2851.
About Fred’s Inc
Fred’s Inc. operates 672 discount general merchandise stores, including 24 franchised Fred’s stores in the southeastern United States. The stores carry more than 12,000 brand-name, off-brand, and private-label products, including pharmaceuticals, household goods, clothing and linens, food and tobacco items, health and beauty aids, and paper and cleaning supplies. For more information about the Company, visit Fred’s Website at www.fredsinc.com.
About KSS Retail
KSS Retail, a dunnhumby Ltd. Company, is the premier global provider of price optimization and shopper insight solutions for the grocery, convenience, chain drug, general and online retail industries. Retailers use KSS Retail software and professional services to better understand their customer’s needs, and to deliver more effective pricing, promotions and merchandising decisions. KSS Retail clients consistently achieve improved market share, sales and profit growth, and enhanced competitive positioning. Current clients include 7 Eleven, O’Reilly Auto Parts, BI-LO, Sonae, Raley’s, United Supermarkets, dabs.com, ABC Fine Wine and Spirits, and many others. For more information, visit www.kssretail.com.