CORRECTING and REPLACING Park City Group Signs New Software and Services Agreements with Tesco Lotus
PARK CITY, Utah--(BUSINESS WIRE)--Aug. 15, 2006--
Reissuing release to correct ticker symbol for searching purposes.
PARK CITY GROUP SIGNS NEW SOFTWARE AND SERVICES AGREEMENTS WITH TESCO LOTUS
Park City Group, Inc. (OTCBB: PCYG) today announced that it has expanded its already robust relationship with Tesco Lotus, the leading consumer goods retailer in Thailand. Built off the success of its Production Planning project, this new agreement adds expanded consulting services through Park City Group's Professional Services Division and broadens the use of Park City Group's technology to include Labor Scheduler, Category Management, Profit Optimization, and Computer Assisted Ordering tools.
These new tools will allow Tesco Lotus to improve field ownership of their production plans and expand their assortment plan execution on a store-by-store basis. Additionally, Computer Assisted Ordering will help Tesco Lotus manage the availability of raw materials in support of their merchandising plans. For store managers, Park City Group's Labor Scheduling tools will optimize the allocation of labor resources thereby improving customer service and sales opportunities.
Tesco Lotus also contracted with Park City Group for Professional Services which includes category management and labor utilization analysis, operational performance analysis, and profit optimization recommendations. This contract will extend over the coming year.
Tesco Lotus is a division of the British company Tesco Stores plc. Tesco Lotus has 219 stores trading across four formats, including 139 Express stores, 14 Value stores and ten new supermarkets in Thailand.
Speaking of the agreement, Randall K. Fields, Park City Group's Chairman and Chief Executive, said, "Our rapid expansion with top-tier retailers like Tesco Lotus validates our service and technology offerings. We are experiencing widespread acceptance of our technology by innovative retailers who see the need to stay ahead of increasing competition. Our technology is unparalleled in its capacity to drive true retail profitability, and Tesco Lotus is one of the best known names in the retail business. We are proud to be associated with them and their commitment to freshness, quality, and service for their customers."
About Tesco
Tesco is the UK's largest retailer and one of the world's leading international retailers. The Tesco group had a turnover of GBP 41.8bn with pre-tax profits of GBP 2.2bn in the year to February 2006. Tesco operates over 2,670 stores employing over 370,000 people. Outside the UK, the Tesco group operates in 11 countries across Europe and Asia. In Europe Tesco operates 363 stores and has over 68,000 employees in the Czech Republic, Hungary, Republic of Ireland, Poland, Slovakia and Turkey.
In Asia Tesco operates 444 stores and employs over 56,000 people in China, Japan, Malaysia, South Korea and Thailand.
Wherever Tesco operates it has one Core Purpose - to "Create value for customers to earn their lifetime loyalty."
About Park City Group
Park City Group, Inc. develops and markets patented computer software that helps its retail customers to increase their sales while reducing their inventory and labor costs: the two largest controllable expenses in the retail industry. The technology has its genesis in the operations of Mrs. Fields Cookies, co-founded by Randy Fields, CEO of Park City Group, Inc. Industry leading customers such as The Home Depot, Victoria's Secret, The Limited, Anheuser Busch Entertainment and Tesco Lotus benefit from our software. To find out more about Park City Group (OTCBB: PCYG) visit our website at www.parkcitygroup.com.
Statements in this press release that relate to Park City Group's future plans, objectives, expectations, performance, events and the like are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Future events, risks and uncertainties, individually or in the aggregate, could cause actual results to differ materially from those expressed or implied in these statements. Those factors could include changes in economic conditions that may change demand for the Company's products and services and other factors discussed in the "forward-looking information" section and the "risk factor" section of the management's discussion and analysis included in the Company's report on Form 10-K for the year ended June 30, 2003 filed with the Securities and Exchange Commission. This release is comprised of interrelated information that must be interpreted in the context of all of the information provided and care should be exercised not to consider portions of this release out of context. Park City Group uses paid services of investor relations organizations to promote the Company to the investment community. Investments in any company should be considered speculative and prior to acquisition, should be thoroughly researched. Park City Group does not intend to update these forward-looking statements prior to announcement of quarterly or annual results.
Source: Park City Group
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