Leading U.S., Canadian and European retail executives and industry experts gathered together at ProfitLogic’s third annual Retail Executive Forum at The Royal Palms in Phoenix, Arizona earlier this month to discuss how to turn customer data into insight to make better merchandising and marketing decisions.  Senior executives from companies such as JCPenney, Northern Group Retail, and Famous Footwear shared their experiences and advice about how best to use optimization technology to improve financial performance and customer satisfaction.

The invitation-only event followed ProfitLogic’s annual Executive Advisory Board proceedings and provided an opportunity for industry leaders to learn more about Retail Profit Optimization (RPO) from retailers who have already benefited by using these solutions.  Participants included representatives from companies such as Ann Taylor, Bloomingdale’s, Burlington Coat Factory, The Children’s Place, Clark’s, Cortefiel, Federated Department Stores, Famous Footwear, Forzani, Gottschalks, Guess, JCPenney, Limited Brands, Liz Claiborne, Loehmann’s, Nordstrom, Northern Group Retail, Reitmans, Shoe Carnival, ShopKo Stores, Steinmart, Talbots, and Williams Sonoma.

“At ProfitLogic’s Retail Executive Forum (REF), a number of Retail industry leaders provided insight into their usage and resulting benefits from ProfitLogic’s technology,” said Alexi Sarnevitz, Research Director of the Retail Practice at AMR Research.  "With ProfitLogic’s recent wins and development momentum, retailers seeking science-based, store/SKU retail planning should consider its quickly maturing suite of optimization applications."

The REF agenda also included a keynote address from Darrell Rigby, Partner at Bain & Company, who delivered an insightful and entertaining presentation outlining 10 key retail strategies for gaining competitive advantage and advocating what he calls “rational retailing” based on facts.  Also, Sanford Bernstein’s Senior Retail Analyst, Emme Kozloff, delivered thought-provoking analysis in her presentation, “Geek Chic: Wall Street’s Perspective on how Analytic Solutions are Revolutionizing Retail Performance.”  She advised retail executives to invest in smart technology that is fast and flexible because “as the U.S. landscape continues to move towards saturation, growing profitability through margin improvement will become a key determinant of relative outperformance within both the broadlines and specialty apparel sectors.”

“For the third year in a row we had a tremendous group of retail leaders sharing ideas about how Retail Profit Optimization affects their business, their merchants and planners, and their customers,” said Scott Friend, Co-founder and President of ProfitLogic, and host of REF.  “This annual event has truly become a priority for those who are dedicated to improving the business of retail and we are thrilled to be part it.”

ProfitLogic provides industry-leading Retail Profit Optimization solutions designed for retailers whose top priority is getting the highest return on inventory investments.  ProfitLogic’s customers have found that using insight into future customer demand results in more profitable merchandising decisions and more time to focus on what matters most: the customers and the merchandise.

About Retail Executive Forum ProfitLogic’s Annual Retail Executive Forum (REF) provides the opportunity for senior retail executives to network with peers, engage in spirited conversations about issues that are top of mind, and discuss ways to drive improved performance.  The Executive Advisory Board, which precedes REF, provides a venue for ProfitLogic customers to share best practices and brainstorm future opportunities for using analytics in their businesses.  The theme of the Third Annual Retail Executive Forum was Innovation through Insight and it took place at the Royal Palms Resort & Spa in Phoenix, Arizona.  In 2004, REF was hosted at the Breakers in Palm Beach, Florida and in 2003, the inaugural event took place at the Broadmoor in Colorado Springs, Colorado.