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CST: 20/11/2019 21:15:01   

Stein Mart Boosts Omni-Channel Growth with Oracle Cloud

149 Days ago

Merchandise Financial Planning helps national retailer leverage data to optimize inventory management

REDWOOD SHORES, Calif. and JACKSONVILLE, Fla., June 24, 2019 (GLOBE NEWSWIRE) -- Stein Mart, a national specialty off-price retailer, has gained a holistic view of its inventory and a more streamlined approach to merchandise planning with Oracle Cloud.

By consolidating the planning and forecasting process for its physical stores, online store and warehouses into one solution, Stein Mart will be better equipped to manage its inventory to support the needs of its customers, regardless of how they choose to shop. With Oracle Retail Cloud Services, Stein Mart has the tools to keep its merchandise assortments fresh and relevant for buyers.

“We have been focused on simplifying our merchandising processes while expanding our omni-channel capabilities and new business initiatives. The enhanced functionality of Oracle’s Merchandise Financial Planning solution will help us analyze data faster to create better plans up front so we can buy smarter and manage inventory more effectively,” said Nick Swetonic, Stein Mart’s senior vice president of planning and allocation.

“Today, retailers sell whatever they buy, often at the expense of the bottom line. Tomorrow, they will be able to more accurately predict placement, price, and sizes across every store and market. This is the promise of the Oracle Retail Cloud,” noted Mike Webster, senior vice president and general manager, Oracle Retail. “We are helping companies like Stein Mart refine their approach to inventory and purchasing, so they can continually delight customers while improving results with merchandise that turns quickly.”

Stein Mart partnered with Cognira, experts in analytics, configuration and integration, and retail consulting firm The Parker Avery Group to re-engineer business processes and implement Oracle Retail Merchandise Financial Planning Cloud Service. Both Cognira and Parker Avery are members of the Oracle PartnerNetwork (OPN). Previously, Stein Mart also implemented Oracle Retail Merchandising, Oracle Retail Store Inventory Management, Oracle GoldenGate, Oracle JD Edwards, and Oracle Retail Point of Sale.

About Stein Mart
Stein Mart, Inc. is a national specialty off-price retailer offering designer and name-brand fashion apparel, home décor, accessories and shoes at everyday discount prices. Stein Mart provides real value that customers love every day both in stores and online. The Company currently operates 283 stores across 30 states. For more information, please visit www.steinmart.com.

About Oracle Retail
Oracle is the modern platform for retail. Oracle provides retailers with a complete, open, and integrated platform for best-of-breed business applications, cloud services, and hardware that are engineered to work together. Leading fashion, grocery, and specialty retailers use Oracle solutions to accelerate from best practice to next practice, drive operational agility, and refine the customer experience. For more information, visit our website, www.oracle.com/retail.

About Oracle
The Oracle Cloud offers a complete suite of integrated applications for Sales, Service, Marketing, Human Resources, Finance, Supply Chain and Manufacturing, plus Highly-Automated and Secure Generation 2 Infrastructure featuring the Oracle Autonomous Database. For more information about Oracle (NYSE: ORCL), please visit us at oracle.com.

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Contacts:
Kris Reeves
Oracle PR
Kris.reeves@oracle.com
+1.925.787.6744

Linda Tasseff
Stein Mart Investor Relations
Ltasseff@steinmart.com 
+1.904.858.2639

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