SOURCE: Profitect

Profitect

March 08, 2016 07:55 ET

Lowes Foods Selects Profitect's Prescriptive Analytics Solution to Increase Profit

WALTHAM, MA--(Marketwired - March 08, 2016) - Profitect Inc., the leading prescriptive analytics provider for the retail industry, today announces Lowes Foods, a major supermarket chain operating in locations across North Carolina, South Carolina and Virginia has joined its growing list of customers. Using Profitect's Sales module and in the process of implementing the Inventory module and mobile field application, Lowes Foods Asset Protection is working to increase sales and reduce overall costs while remaining dedicated to delivering top-tier customer service.

After an extensive product selection process managed by The Stores Consulting Group, Lowes Foods chose Profitect's prescriptive analytics solution to replace NaviStor, its existing exception based reporting (EBR) tool. Profitect's ease of use, excellent customer service, quick implementation process and success working with inventory as well as Point of Sale (POS) exceptions were the deciding factors. The grocery retailer was up and running with Profitect in less than one week from receipt of the data, with initial user training within three weeks. In just days, Lowes Foods was able to identify trends and patterns associated with areas leaking profit -- including shrink, process mistakes and more -- and take the prescriptive action needed to solve and correct them.

"We looked into a number of different solutions to help us elevate our services and offerings and found that Profitect best fit our needs," said Tony Hiatt, Manager of Investigations, Lowes Foods. "The product is very intuitive, requiring minimal training. We were up and running within three days of loading our data into the solution. Profitect's remarkable customer service allowed us to see immediate results in the way we run our business and in turn, pass that improved experience along to our consumers."

"We are very excited for Lowes Foods to join the Profitect family. The company's strategy of looking for loss throughout the store process aligns perfectly with the prescriptive outcomes of Profitect's solution," said Guy Yehiav, CEO, Profitect. "With Profitect, Lowes Foods will be able to seamlessly continue to reduce shrink and fraud that occurs at the point of sale, while now also identifying areas of loss in inventory management and store execution. Lowes Foods Asset Protection will have a greater impact on increasing revenue and margins, making it easier to understand and take action where profit opportunities exist within their stores."

To learn more about Profitect, visit us at FMI's Asset Protection Conference March 14-17, 2016 at The Westin La Paloma Resort & Spa in Tucson, Arizona, check out our website and read more on twitter.

About Lowes Foods, LLC
Founded in 1954, Lowes Foods employs nearly 9,000 people and operates 97 full-service supermarkets in North Carolina, South Carolina and Virginia. Locally owned and operated, Lowes Foods is truly a homegrown company committed to bringing community back to the table, by providing guests with the freshest and most innovative local products from local suppliers. The company maintains a strong focus on exceptional customer attention with services like Lowes Foods-To-Go personal shopping and gas rewards discounts. To learn more, visit www.lowesfoods.com or follow Lowes Foods on Facebook or Twitter. Lowes Foods, LLC is a wholly owned subsidiary of Alex Lee, Inc.

About Alex Lee, Inc.
Founded in 1931, Alex Lee is a family-owned and operated company that employs approximately 10,000 people. It serves as the parent company of Merchants Distributors, LLC, which provides full-service, wholesale distribution to supermarkets across the Southeastern United States. In addition, Alex Lee is the parent company of Lowes Foods, operating grocery stores in North Carolina, South Carolina and Virginia, as well as Just Save food stores in North Carolina. Alex Lee, Inc. is based in Hickory, NC. To learn more, visit www.alexlee.com.

About Profitect
Since 2012, Profitect has been the leading provider of prescriptive analytics. Profitect offers a suite of solutions to help retailers easily understand and act on their data. These actions replace traditional reporting to ensure improved sales and profitability. Profitect is headquartered in Waltham MA. 

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