Point of Sale Limited (Nasdaq:POSI) announced today that a new agreement has been signed with TESCO PLC, the leading UK retailer. The new three-year agreement succeeds the original agreement signed in 1997 between the two companies, and it both extends and expands the original terms of that agreement.
Under the original agreement, Tesco installed Point of Sale Limited application software in 760 stores in Great Britain and 50 Hyper stores in Central Europe, capping a five-year automation initiative. The new agreement allows Tesco to roll out beyond the original 810 stores into stores in all parts of the world, and it includes new applications, professional services and technical support from Point of Sale.
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“Point of Sale Limited has proven itself as a solid supplier of our software systems,” said Philip Clarke, IT and Logistics director and a member of Tesco’s main board of directors. “We see Point of Sale as a long-term partner, responsible for delivering leading-edge technology that will allow us to retain our position as the number one retailer in the UK for the years to come.”
According to Point of Sale Limited President and CEO Barry Shaked, this agreement is a result of the successful partnership between Tesco and Point of Sale: “We have had the privilege of working with a world-leader in retail that has continuously challenged us with their leading standards in customer service,” he said. “As Point of Sale has demonstrated in the past, we are entering this new agreement with confidence in our ability to meet Tesco’s future needs.”
Under the new agreement, Tesco Stores is expected to continue installing the Point of Sale in-store solutions in new locations and to take advantage of new technology and application initiatives.
More about Tesco and Point of Sale Limited: linking food and fuel
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By GlobalDataAs announced June 1999, Point of Sale’s solutions played a role in an alliance in the fuel segment between Tesco and ESSO which has more than 2,000 retail sites in the UK alone and many thousands worldwide as part of the Exxon Group. The customized Point of Sale software solution supports all ESSO fuel cards via the back-office system, and it has the ability to split each customer receipt into separate Tesco and ESSO sales. For the original press release about this joint venture, go to www.storepoint.com and click News and NASDAQ.
About Point of Sale Limited
Founded in 1982, Point of Sale Limited develops and markets mission-critical software solutions that collect, store, maintain and analyze transaction-level data for supermarkets, convenience stores, fuel forecourts and restaurant operators worldwide. These solutions allow retailers to respond to rapidly shifting competitive requirements and changing consumer preferences. And, they can be used to improve store operations, reduce costs and increase worker productivity.
With global headquarters in Israel and North American headquarters in Carlsbad, Calif., Point of Sale Limited’s products have been installed in over 15,000 stores across 41 companies, helping retailers serve more than 30 million customers a day.
Point of Sale Limited is a publicly traded company, listed on the NASDAQ National Market in the US (POSI) and on TASE in Israel (POINT). For additional information, visit www.pos.co.il or www.storepoint.com.
Safe Harbor for Forward-Looking Statements: Except for the statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, including revenues, income and expenses, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include but are not limited to Tesco’s commitment to continue to install the Company’s products, the amount and timing of Tesco’s use of the Company’s services and other factors over which Point of Sale may have little or no control. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
