Mooresville, N.C. - July 7, 2006 –Lowe's Companies, Inc. (NYSE: LOW)announced today it has implemented Acorn Systems' profit improvement solution. Lowe's selected Acorn Systems because of its expertise in the activity based costing space and its ability to provide a reliable, flexible, and scalable environment to provide information faster for more effective business decisions.
"Acorn Systems' solution gives us even greater visibility into the profitability of our individual stores and products we sell," said Steve Stone, Lowe's senior vice president and chief information officer. "Acorn's ability to bring expertise in retail and activitybased costing was critical to a successful implementation, and the Microsoft-based solution has been able to scale to meet the needs of our fast-paced retail environment."
"Lowe's is an industry leader in home improvement serving 12 million customers each week," said J. Alex Fernandez, President and COO of Acorn Systems. "Acorn Systems' solution provides a competitive advantage for a complex business like Lowe's."
With fiscal year 2005 sales of $43.2 billion, Lowe's Companies, Inc. is a FORTUNE® 50 company that serves approximately 12 million customers a week at more than 1,250 home improvement stores in 49 states. Based in Mooresville, N.C., the 60-year old company is the second-largest home improvement retailer in the world. For more information, visit Lowes.com.
About Acorn Systems
Acorn Systems provides continuous enterprise-wide visibility into business performance enabling profit improvement at a low total cost of ownership. Acorn Systems delivers a solution that is verifiably accurate, auditable and actionable. Acorn Systems' solution is flexible and dynamic and provides a sustainable, scalable platform for Corporate Performance Management. Acorn Systems' clients come from many industries in North America and Europe, including Financial Services, Retail, Consumer Product Goods, and Distribution and Logistics.
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