Wet Seal Expands MicroStrategy Deployment Enterprise-Wide to Assess Sales Trends
Producing Detailed Reports for over 600 Stores
McLean, Va., (August 05, 2003) –
MicroStrategy® Incorporated (NASDAQ: MSTR), a leading worldwide provider of business intelligence software, today announced that The Wet Seal, Inc. (NASDAQ: WTSLA) has expanded its deployment of the MicroStrategy Business Intelligence Platform(TM) enterprise-wide to assess sales trends. The MicroStrategy applications will encompass over 600 stores and about 1000 employees, including executives, store managers and corporate analysts.
The Wet Seal, Inc., currently operates a total of 624 stores in 47 states, the District of Columbia and Puerto Rico, including 490 Wet Seal stores, 103 Arden B. stores and 31 Zutopia stores.
Wet Seal will utilize MicroStrategy’s system to analyze extensive transactional data to glean insight on sales trends of its products by specific regions, demographics and stores. This detailed analysis will be converted into personalized reports, generated through the MicroStrategy platform, for managers in 600 stores. The MicroStrategy applications will be run against a 1-terabyte Oracle® data warehouse.
“MicroStrategy is providing the complete solution for Wet Seal’s exacting needs,” said Wet Seal’s CIO Michael Relich. “MicroStrategy offers exceptional user-friendly reporting features, superior scalability for large databases, outstanding Web deployability, and powerful analytics for the most granular-level data. MicroStrategy is a top-of-the-line system for bottom-line results.”
“Our growing relationship with Wet Seal is further demonstration of our expanding leadership in the retail sector,” said MicroStrategy’s COO Sanju K. Bansal. “Seven of the top ten global retailers are MicroStrategy customers. MicroStrategy is allowing retailers to enhance and help drive key business areas, including overall store operations, merchandise management, marketing analysis, market-basket analysis, category management and loss prevention.”
About The Wet Seal, Inc.
Headquartered in Foothill Ranch, California, The Wet Seal, Inc. is a leading specialty retailer of fashionable and contemporary apparel and accessory items. The company currently operates a total of 624 stores in 47 states, the District of Columbia and Puerto Rico, including 490 Wet Seal stores, 103 Arden B. stores and 31 Zutopia stores. The company’s products can also be purchased online at www.wetseal.com or www.ardenb.com
About MicroStrategy Incorporated
Founded in 1989, MicroStrategy is a worldwide leader in the increasingly critical business intelligence software market. Leading Fortune 2000 companies are integrating MicroStrategy’s industrial-strength software into virtually all facets of their businesses. The MicroStrategy Business Intelligence Platform(TM) distills vast amounts of data into vital, probing insight to help drive cost-efficiency, productivity, customer relations and revenue-generation. MicroStrategy offers exceptional capabilities — excellent scalability, powerful analytics, user-friendly query and reporting features and an outstanding, easy-to-use Web interface. Top companies are using MicroStrategy to cost-effectively harness large, multi-terabyte databases; empower thousands of employees at all operational levels; and extend the benefits of business intelligence enterprise-wide and beyond to customers, partners and suppliers.
MicroStrategy has over 2,200 enterprise-class customers, including General Motors, Best Buy, Lowe’s Home Improvement Warehouse, Yahoo!, Visa International, Wells Fargo, Telecom Italia, AT&T Wireless Group and Aventis. MicroStrategy also has relationships with over 500 systems integrators and application development and platform partners, including IBM, PeopleSoft, Sun, and JD Edwards. MicroStrategy is listed on Nasdaq under the symbol MSTR. For more information or to purchase or demo MicroStrategy’s software, visit MicroStrategy’s Web site at www.microstrategy.com.
This press release may include statements that may constitute “forward-looking statements,” including its estimates of future business prospects or financial results and statements containing the words “believe,” “estimate,” “project,” “expect” or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results of MicroStrategy Incorporated and its subsidiaries (collectively, the “Company”) to differ materially from the forward-looking statements. Factors that could contribute to such differences include: the Company’s ability to secure financing for its current operations and long-term plans on acceptable terms; the ability of the Company to implement and achieve widespread customer acceptance of its MicroStrategy 7i software on a timely basis; the Company’s ability to recognize deferred revenue through delivery of products or satisfactory performance of services; continued acceptance of the Company’s products in the marketplace; the timing of significant orders; delays in the Company’s ability to develop or ship new products; market acceptance of new products; competitive factors; general economic conditions; currency fluctuations; and other risks detailed in the Company’s registration statements and periodic reports filed with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
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Marc Brailov
MicroStrategy Incorporated
(703) 770-1670
mbrailov@microstrategy.com
Source: MicroStrategy