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FLORHAM PARK, N.J. - Altoona, Pa.-based convenience store chain Sheetz, Inc. has entered into a licensing agreement with KSS Ltd., a global supplier of pricing systems, for KSS' PriceStrat merchandise pricing and promotions solution.
The licensing deal comes in the wake of a successful pilot application of PriceStrat to a sample of major categories inside Sheetz stores to support pricing and other category merchandising decisions. In the trial program Sheetz could accurately quantify the impact of pricing decisions on item and category performance, including critical cross-product and cross-category pricing effects. As a result of applying PriceStrat, Sheetz's pricing analysts can be more confident that their pricing decisions will deliver the desired results, according to Sheetz officials.
Louie Sheetz, v.p. marketing at Sheetz, said, "We believe that there is still more we can learn about customers' shopping habits in-store and the extent to which price affects this behavior. The KSS PriceStrat system will help us to continue to offer our customers attractive prices and help us meet our business goals."
"Sheetz is recognized as an innovative convenience store operator, and we are delighted at the opportunity to work with them to roll out PriceStrat to their network of stores," said KSS c.e.o. Iain Cockburn. "We look forward to a successful partnership, and we are confident that PriceStrat will provide effective and efficient support for Sheetz' pricing and promotions strategies."
Sheetz, Inc. has more than $2.3 billion in revenue and over 9,500 employees. The company runs 300 stores throughout Pennsylvania, West Virginia, Maryland, Virginia, and Ohio, as well as two mall-based concept stores in North Carolina.