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1. EXECUTIVE SUMMARY 1. OVERALL STRATEGY: All Sports Shoes Company continued throughout the years to focus on each region separately and design marketing strategies to suit each market’s demand. The...

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1. EXECUTIVE SUMMARY
1. OVERALL STRATEGY:
All Sports Shoes Company continued throughout the years to focus on each region separately and design marketing strategies to suit each market’s demand. The management has employed a more value for the money strategy and dedicated its resources to produce premium quality shoes that satisfy every taste.
PREMIUM SHOES FOR EVERY TASTE is the company promise to all customers.
The company has doubled its investment in advertising and increased the bids of the cele
ities’ contracts to increase its image and revenue and to improve its relationship with customers overall. The company has focused on increasing its revenue, market share and S/Q (styling/quality) rating per region. All Sports Shoes Co. has invested as well in improving its equipment to minimize its reject rate and enhanced its styling and quality.
1. COMPANY’S PRIME TACTICS Year 14:
In year 12, the company had three main tactics that focused on going forward:
 Focused Low-Cost Strategy
 More Value for Money Strategy
 Market Leader Approach
By monitoring the market changes and its rivals’ competition, the following Scorecard has been put up in place to monitor and measure its performance towards achieving its strategic targets:
The company has improved its profitability in Year 14 by 11% compared to Year 13: Europe – Africa region has grown the most scoring +30.38% increase versus the previous year and Latin America region being the least with a growth of +24.73% compared to Year 13.
The focus this year was to improve our customer satisfaction; therefore, the management approved a 56% increase in retail support and has improved all deliveries from the previous year by allocating additional $ 5 Million to make sure everyone receives their orders on time, including the internet sales.
There was a shift in tactics this year regarding the marketing activities, where the company decided to double its investment in advertising and marketing support to maximize revenue and improved the company’s awareness. This strategy’s result is forecasted to reach its maximum potential in the upcoming years. The company’s distribution goal is set to reach 5’000 stores in the four regions by Year 15 after widening its distribution for the last couple of year.
One of the challenges the company had in the last few years is to improve the productivity per employee while it is more complicated to manufacture 500 models with premium quality. In Year 14, the company has successfully reached its goal per region, Asia-Pacific recording the highest growth of 6.7% compared to the previous year. The company has invested this year as well in improving the workplace conditions and it is committed in the upcoming years to listen to all employees and create an enjoyable workplace and optimize employees’ productivity.
1. KEY OUTCOMES:
Below is a quick overview of the company’s key achievements and opportunities for Year 14:
XXXXXXXXXX% Net Revenue growth compared to Year 13
1. A- credit rating being the same rating that investors expect the company to achieve
XXXXXXXXXX% Improvement of the styling/quality rating
1. +9% of the Earning Per Share’s expectation of the shareholders
1. Decline of 9% of the Return of Equity
1. STOCK PRICE:
The stock price of the company has increased 52.7% in Year 13 and declined 5% in Year 14 compared to its respective yearly targets. The company will maximize its efforts to set the performance back on track in Year 15.
1. FORWARD STRATEGIES:
The management will continue prioritising its Value for Money Strategy, monitoring closely its performance versus its rivals in each market, and optimize its advertising and marketing activities to improve the image of All Sports Shoes. The styling and quality will continue to improve to deliver affordable premium quality products.
2. MAIN REPORT
1. FINANCIAL PERFORMANCE
1. SUMMARY OF KEY PERFOMANCE INDICATORS:
The company’s Net Revenue has grown in Year 13 and 14 by +7.4% and +16.5% respectively. This higher revenue is generated by the increase of the retail outlets, the improvement of the S/Q rating, the intensive marketing events and cele
ity endorsement.
The management has allocated high budgets for investments and operation spend that affected negatively both ROI (Return on Investment) and ROE (Return on Equity) in Year 14 but the plan’s positive impact on those indicators is forecasted to be more tangible in Year 15.
1. FINANCIAL RESULTS:
The EPS’ (Earning per Share) target has been met in Year 14; however, the company is determined to improve it by at least 25% it in the upcoming years.
1. FINANCIAL DATA ANALYSIS:
PLEASE UPDATE ME
1. LIQUIDITY & OTHER RATIOS:
PLEASE UPDATE ME
 Interest coverage ratio.
 debt to asset ratio
 default risk ratio.
1. CASH POSITION:
Following the successful achievement in Year 12 and Year 13, the management took a decision to purchase back 1’200’000 shares and pay high dividends ($7.4/share) to its investors considering that the company retained all dividends payment for the past 3 consecutive years. This decision has impacted negatively its cash on hand but the management is confident that those decisions will pay in the long term.
1. OPERATIONS
0. STOCK LEVEL:
The management followed the previous years’ strategy and maximized its production to reduce the production pair while improving its S/Q rating. this tactic has led to 157 days of inventory which is 2% more than the industry average. However, the company has generated a gross revenue of $ 143 Million from the clearance sale of the overstocked shoes.
0. PLANT CAPACITY AND PRODUCTION LEVEL:
The average use of the plants’ capacity was 118% in Year 14 that matches the company’s strategy to maximize its capacity to reduce as much as possible its cost per pair.
There was no loss of sale in Year 14 as the company has met the demand in each region. The total production has been maximized to adhere with a low cost per pair tactic implemented.
0. PLANT UPGRADE:
The company continued to invest in improving its equipment in Latin-America to reduce its high reject rate in Year 13 and 14, where the management spent $ 21 Million on purchasing Option A. This improvement and the ones implemented in Year 12 has allowed the company to save nearly $ 4 Million in the cost of the rejected pairs and ameliorating the reject rate to 5.5% of the overall company.
The company wants to improve the S/Q rating of its products and will invest in improving its equipment as well in Year 15 and will purchase option C.
1. CUSTOMER MARKETING
1. SALES PER SEGMENT:
Europe-Africa region was the growth leader for Year 14, achieving +30.38% compared to Year 13 with a Revenue of $ 258 Million.
BRANDED SALES PER REGION IN DOLLARS:
The Europe-Africa region was the leader this year and has achieved +30.33% compared to Year 13, while North America ranked fourth achieving +17.23% versus the previous year.
1. INTERNET SALES PER REGION IN DOLARS:
The Europe-Africa region has also ranked first in the internet sales this year with a growth of 30.57% versus last year and Asia-Pacific region ranking the lowest with an increase of 28.21% compared to Year 13.
1. PRICING:
In order to maintain a value for money approach, All Sports Shoes prices have been increasing slightly throughout the years to be able to offer a premium enhanced quality with higher percentage usage of superior material, better enhancing styles and higher TQM per pair. In Year 14, the company is producing shoes with 70% of superior materials and aim to increase it to 90% in each plant.
1. ADVERTISING SPEND:
The advertising spend per pair has been significantly increased from Year 14 in all plants. The decision was taken by management to maximize the
and awareness and improve Sales revenue in general.
1. RESOURCES/LEARNING
1. OVERAL SUMMARY:
The biggest highlight of Year 14 is the increase of the productivity per employee in each plant. The management is determined to offer a friendly and efficient workplace and is striving to optimize the productivity in each factory. The number of supervisors has been changed to become a ratio of 1 supervisor for 40 employees.
1. EMPLOYEE’S PRODUCTIVITY vs INDUSTRY AVERAGE:
Even though the productivity has been improved in Year 14, the company’s performance is still within the average compared to the industry in general. A more tactical strategy will be implemented in Year 15 to optimize the productivity per employee.
3.CONCLUSION
Include SWOT ANALYSIS
4. STRATEGIES FOR NEXT DECISION ROUNDS
PLEASE UPDATE ME
RETAIL OUTLETS 4'786 XXXXXXXXXX8.6% vs YR13)
EBIT MARGIN XXXXXXXXXX%
GROSS REVENUE $M 938 XXXXXXXXXX21.9% vs YR13)
IMAGE RATING XXXXXXXXXX76 XXXXXXXXXX5.5% vs YR13)
S/Q RATING XXXXXXXXXX* XXXXXXXXXX11.1% vs YR13)
AVERAGE PRODUCTIVITY 4'309'00 XXXXXXXXXX4.9% vs YR13)
SALES REVENUE & PROFIT
Sales     YEAR 10    YEAR 11    YEAR 12    YEAR 13    YEAR 14    432646    454976    729894    783757    912699    net profit %    YEAR 10    YEAR 11    YEAR 12    YEAR 13    YEAR 14    9.2454339113270431E-2    8.7376037417358277E-2     XXXXXXXXXX     XXXXXXXXXX    8.9727281392879804E-2    
SALES REVENUE '000
NET PROFIT %
STOCK LEVEL
NA    
YEAR 12    YEAR 13    YEAR 14    1156    981    1307    EA    
YEAR 12    YEAR 13    YEAR 14    641    1660    1305    AP    
YEAR 12    YEAR 13    YEAR 14    831    1319    1648    LA    
YEAR 12    YEAR 13    YEAR 14    407    737    513    
TOTAL PAIRS '000
PLANTS CAPACITY
NA    YEAR 12    YEAR 13    YEAR 14    1    1.05    1.2    AP    YEAR 12    YEAR 13    YEAR 14    1     XXXXXXXXXX    1.2    LA    YEAR 12    YEAR 13    YEAR 14    1.2    1.19     XXXXXXXXXX    
CAPACITY %
TOTAL PRODUCTION
NA    4000
YEAR 12    YEAR 13    YEAR 14    4000    4200    4800    EA    YEAR 12    YEAR 13    YEAR 14    0    0    0    AP    6000
YEAR 12    YEAR 13    YEAR 14    6000    6900    7200    LA    3600
YEAR 12    YEAR 13    YEAR 14    3600    4750    4800    
TOTAL PRODUCTION '000
BRANDED PRODUCTION
PRODUCTIVITY    YEAR 12    YEAR 13    YEAR 14    4076     XXXXXXXXXX     XXXXXXXXXX    PRODUCTION COST    YEAR 12    YEAR 13    YEAR 14    27.38    28.64    29.26    PAIR/WORKER/YEAR $ '000
$/PAIR PRODUCED
REJECT RATE AND PRODUCTION
reject rate %    YEAR 10    YEAR 11    YEAR 12    YEAR 13    YEAR 14    8.5999999999999993E-2    8.2000000000000003E-2    6.6000000000000003E-2    7.0000000000000007E-2    5.5E-2     Net Production    YEAR 10    YEAR 11    YEAR 12    YEAR 13    YEAR 14    8371    9919    12700    14765    15869    
REJECT RATE
TOTAL PRODUCTION
WHOLESALE PER REGION
NA    YEAR 12    YEAR 13    YEAR 14    149209    184385    216148    EA    YEAR 12    YEAR 13    YEAR 14    156702    157648    205469    AP    YEAR 12    YEAR 13    YEAR 14    96779    122059    152737    LA    YEAR 12    YEAR 13    YEAR 14    131079    138079    169714    TOTAL    YEAR 12    YEAR 13    YEAR 14    314731    602171    744068    
GROSS REVENUE $ '000
GROSS REVENUE $ '000
INTERNET SALES
NA    YEAR 12    YEAR 13    YEAR 14    40627    44227    57246    EA    YEAR 12    YEAR 13    YEAR 14    42510    40099    52358    AP    YEAR 12    YEAR 13    YEAR 14    26077    30030    38502    LA    YEAR 12    YEAR 13    YEAR
Answered Same Day Jul 11, 2021

Solution

Harshit answered on Jul 12 2021
123 Votes
1. EXECUTIVE SUMMARY
1. OVERALL STRATEGY:
All Sports Shoes Company continued throughout the years to focus on each region separately and design marketing strategies to suit each market’s demand. The management has employed a more value for the money strategy and dedicated its resources to produce premium quality shoes that satisfy every taste.
PREMIUM SHOES FOR EVERY TASTE is the company promise to all customers.
The company doubled its investment in advertising and increased the bids of the cele
ities' contracts to increase its image and revenue and to improve its relationship with customers overall. The company has focused on increasing its revenue, market share, and S/Q (styling/quality) rating per region. All Sports Shoes Co. has invested as well in improving its equipment to minimize its reject rate and enhanced its styling and quality.
1. COMPANY’S PRIME TACTICS Year 14:
In year 12, the company had three main tactics that focused on going forward:
 Focused Low-Cost Strategy
 More Value for Money Strategy
 Market Leader Approach
By monitoring the market changes and its rivals’ competition, the following Scorecard has been put up in place to monitor and measure its performance towards achieving its strategic targets:
The company has improved its profitability in Year 14 by 11% compared to Year 13: Europe – Africa region has grown the most scoring +30.38% increase versus the previous year and Latin America region being the least with a growth of +24.73% compared to Year 13.
The focus this year was to improve our customer satisfaction; therefore, the management approved a 56% increase in retail support and has improved all deliveries from the previous year by allocating an additional $ 5 Million to make sure everyone receives their orders on time, including the internet sales.
There was a shift in tactics this year regarding the marketing activities, where the company decided to double its investment in advertising and marketing support to maximize revenue and improved the company’s awareness. This strategy’s result is forecasted to reach its maximum potential in the upcoming years. The company's distribution goal is set to reach 5'000 stores in the four regions by Year 15 after widening its distribution for the last couple of years.
One of the challenges the company had in the last few years is to improve the productivity per employee while it is more complicated to manufacture 500 models with premium quality. In Year 14, the company has successfully reached its goal per region, Asia-Pacific recording the highest growth of 6.7% compared to the previous year. The company has invested this year as well in improving the workplace conditions and it is committed in the upcoming years to listen to all employees and create an enjoyable workplace and optimize employees’ productivity.
1. KEY OUTCOMES:
Below is a quick overview of the company’s key achievements and opportunities for Year 14:
1. +16.45% Net Revenue growth compared to Year 13
1. A- credit rating being the same rating that investors expect the company to achieve
1. +11.1% Improvement of the styling/quality rating
1. +9% of the Earning Per Share’s expectation of the shareholders
1. The decline of 9% of the Return of Equity
1. STOCK PRICE:
The stock price of the company has increased by 52.7% in Year 13 and declined 5% in Year 14 compared to its respective yearly targets. The company will maximize its efforts to set the performance back on track in Year 15.
1. FORWARD STRATEGIES:
The management will continue prioritizing its Value for Money Strategy, monitoring closely its performance versus its rivals in each market, and optimize its advertising and marketing activities to improve the image of All Sports Shoes. The styling and quality will continue to improve to deliver affordable premium quality products.
2. MAIN REPORT
1. FINANCIAL PERFORMANCE
1. SUMMARY OF KEY PERFORMANCE INDICATORS:
The company's Net Revenue has grown in Year 13 and 14 by +7.4% and +16.5% respectively. This higher revenue is generated by the increase of the retail outlets, the improvement of the S/Q rating, the intensive marketing events, and cele
ity endorsement.
The management has allocated high budgets for investments and operation spend that affected negatively both ROI (Return on Investment) and ROE (Return on Equity) in Year 14 but the plan’s positive impact on those indicators is forecasted to be more tangible in Year 15.
1. FINANCIAL RESULTS:
The EPS' (Earning per Share) target has been met in Year 14; however, the company is determined to improve it by at least 25% in the upcoming years.
1. FINANCIAL DATA ANALYSIS:
· The revenue of the company has been increasing at a normal rate from year 12 to 13 but in year 14, the revenue increased by 16.5% as the management increased the number of retail outlets. Although the revenue of the company has increased but the net profit did not increase in the same proportion as the increase in revenue as the company had to incur expenses in marketing and endorsement. The profit of the company has been reducing despite the increase in the revenue.
· The company has been constantly increasing the production levels and the company has been able to match the production in each region. The wholesale increased by 24% and Internet sales increased by 30% and the company didn't have any private label sales.
· The total assets in the year 14 were 662,058 out of which the cu
ent asset was 295,452. The major amount of the non-cu
ent asset was blocked in the investment in facilities and equipment. The cu
ent asset of the company has been increasing but the increase was very insignificant in year 14. The cu
ent asset
· The total liabilities in the year 14 was 378,292 which includes the long term bank loan is 289,500. The company took a loan in the year 14 of 10 years and the loans of the company have been repaid in the year 13 and 14. The company has been leveraging on the loans and therefore the risk in the company has increased. The company has focused on increasing the amount of retained profits and reinvesting the same in the company by gradually decreasing the amount of dividend paid to the shareholders.
· The credit rating of the company has also improved from B in year 10 to constantly remaining at B+ during the years 11 to 13 and improving to A- in the year 14. This is a good sign for the company as the company will be trusted more in the market to the financial investors and other companies.
1. LIQUIDITY & OTHER RATIOS:
Liquidity Ratio: This ratio includes the cu
ent ratio the formula for which is
Cu
ent ratio / Cu
ent Liabilities
Cu
ent ratio means that the ability of the company to repay its cu
ent liabilities using the cu
ent assets only. This measures the number of times the liquid assets are of the cu
ent liabilities that are due for payment in the upcoming 12 months.
    ALL SPORTS SHOES CO.
    YEAR 10
    YEAR 11
    YEAR 12
    YEAR 13
    YEAR 14
    Cu
ent Assets
    97,778
    1,44,911
    2,44,615
    2,90,341
    2,95,452
    Cu
ent Liabilities
    35,288
    75,556
    1,04,663
    61,819
    88,792
    Cu
ent Ratio
    2.771
    1.918
    2.337
    4.697
    3.327
The cu
ent assets of the company have been increasing but the cu
ent liabilities have always been less than the cu
ent assets which is a good sign for the company as the financial liquidity of the company has been maintained by the company and the company has not had cash crunch issues. The cu
ent ratio decreased in the year 11 but the same was recovered in the year 12 and the year 13, the cu
ent ratio reached 4.697 which was due to the repayment of the 1-year bank loan and in the year 14 the cu
ent assets did not increase much due to which the cu
ent ratio of the company decreased but there was improvement when compared with year 10.
 Interest coverage ratio: This ratio measures the ratio that the company will be able to earn or generate profits to cover the fixed interest costs of the company. The ratio helps the company to allocate the amount of profit that the company is generating that will cover the interest cost.
Earnings before interest and taxes / Interest expense
= 129717/ 12726
= 10.19
The interest coverage ratio of the company was at 6.62 in year 10 which gradually increased to 10.19 in the year 14. The interest coverage ratio decreased from 10.1 in year 12 to 9.75 in year 13 as the company took a long term loan to pay off the 1-year bank loan. The interest coverage ratio of 10.19 is a good sign that the company is earning approximately 10 times the fixed interest expense.
 Debt to assets ratio: This ratio is a measure that how many times the debt is the assets of the company. This measures the ratio of debt that occupies the total assets of the company which will help the management to see the percentage of debt in terms of assets in the company.
Long Term Debts/Total Assets
= 289,500 / 662,058
=0.4373
This means that the loan term debt of the company that is the long term bank loan is 43.73% of the total assets in the company. The assets of the company of 43.73% are formed because of the loan taken by the company. The ratio is good but the company should focus on the improvement of the same by decreasing the amount of loan and deleveraging the capital of the company.
 Default risk ratio: This ratio measures the amount of cash flow that is formed due to the payments of the loan of the principal amount. This ratio affirms the lenders and the financial institutions that the company will be able to repay the loans taken. The risk of default also helps the company’s credit rating which has improved from B in year 10 to A- in year 14 which is a good sign.
Cash flow from operations/Principal payments
= 118093/22900
= 5.16
The ratio is 5.16 for year 14 which is a good sign for the company.
1. CASH POSITION:
Following the achievement in Year 12 and Year 13, the management decided to purchase back 1'200'000 shares and pay high dividends ($7.4/share) to its investors considering that the company retained all dividends paid for the past 3 consecutive years. This decision has impacted negatively its cash on hand but the management is confident that those decisions will pay in the long term.
1. OPERATIONS
0. STOCK LEVEL:
The management followed the previous years’ strategy and maximized its production to reduce the production pair while improving its S/Q rating. this tactic has led to 157 days of inventory which is 2% more than the industry average. However, the company has generated a gross revenue of $ 143 Million from the clearance sale of the overstocked shoes.
0. PLANT CAPACITY AND PRODUCTION LEVEL:
The average use of the plants’ capacity was 118% in Year 14 that matches the company’s strategy to maximize its capacity to reduce as much as possible its cost per pair.
There was no loss of sale in Year 14 as the company has met the demand in each region. The total production has been maximized to adhere to a low cost per pair tactic implemented.
0. PLANT UPGRADE:
The company continued to invest in improving its equipment in Latin-America to reduce its high reject rate in Year 13 and 14, where the management spent $ 21 Million on purchasing Option A. This improvement and the ones implemented in Year 12 has allowed the company to save nearly $ 4 Million in the cost of the rejected pairs and ameliorating the reject rate to 5.5% of the overall company.
The company wants to improve the S/Q rating of its products and will invest in improving its equipment as well in Year 15 and will purchase option C.
1. CUSTOMER MARKETING
1. SALES PER SEGMENT:
Europe-Africa region was the growth leader for Year 14, achieving +30.38% compared to Year 13 with a Revenue of $ 258 Million.
BRANDED SALES PER REGION IN DOLLARS:
The Europe-Africa region was the leader this year and has achieved +30.33% compared to Year 13, while North America ranked fourth achieving +17.23% versus the previous year.
1. INTERNET SALES PER REGION IN DOLARS:
The Europe-Africa region has also ranked first in the internet sales this year with a growth of 30.57% versus last year and Asia-Pacific region ranking the lowest with an increase of 28.21% compared to Year 13.
1. PRICING:
To maintain a value for money approach, All Sports Shoes prices have been increasing slightly throughout the years to be able to offer a premium enhanced quality with higher percentage usage of superior material, better-enhancing styles, and higher TQM per pair. In Year 14, the company is producing shoes with 70% of superior materials and aims to increase it to 90% in each plant.
1. ADVERTISING SPEND:
The advertising spend per pair has been significantly increased from Year 14 in all plants. The decision was taken by management to maximize
and awareness and improve Sales revenue in general.
1. RESOURCES/LEARNING
1. OVERALL SUMMARY:
The biggest highlight of Year 14 is the increase of the productivity per employee in each plant. The management is determined to offer a friendly and efficient workplace and is striving to optimize the productivity in each factory. The number of supervisors has been changed to become a ratio of 1 supervisor for 40 employees.
1. EMPLOYEE’S PRODUCTIVITY vs INDUSTRY AVERAGE:
Even though the productivity has been improved in Year 14, the company’s performance is still within the average compared to the industry in general. A more tactical strategy will be implemented in Year 15 to optimize the productivity per employee.
3. CONCLUSION
The company has gone through major changes to survive in the dynamic world which apart from benefitting the company at large, has also contributed to the losses. The company has been constantly managing the growing business environment and making the appropriate decision for the development of the company in the competitive industry. With the marketing strategies and the cele
ity endorsement, the company is entering the big leagues in the given industry.
SWOT analysis of the company will help clarify and classify all the strengths, weaknesses, opportunities, and threats of the company which is a
eviated as SWOT itself.
    STRENGTHS
The company’s major strength is that the company has expanded it’s business to a great extent through establishing retail outlets around the relevant geographical areas so that it can cover a large area of the market and enhance it’s market share as well. It has resulted in greater economies of scale and has helped the company increase it’s revenue to a different level thereby maximizing sales. The company is also repaying its debts and by reducing the dividends paid, it is increasing the retained earnings.
    WEAKNESSES
The company while increasing its revenue by establishing retail outlets across the areas has also faced a decline in the net profit. The main reason behind this weakness is the increase in it's fixed costs by enhancing advertisement, marketing, and sales promotion. Advertisement is needed as the company should let people know about the new stores opened in the market, but the company should also on the other hand control the expense overall so that it doesn't affect the company's net profit. Increasing sales would help the company achieve it's goal of sales maximization whereas a decrease in profits would harm the company's profit maximization objective.
    OPPORTUNITIES
The company can also start it's business online by contacting the e-commerce operators online who can help the company to deliver its products. The company can then cover a wider area than by only establishing stores because it can help the company to connect to its customers worldwide. Nowadays people find it very convenient to shop from online stores rather than hopping around in a shopping complex. As a result, it can be a great opportunity for the company to enhance its business and increase its market share.
    THREATS
For a shoe industry to rise in the future, the only threat could be its competitors. By restricting the new entrants in the market, the company can solve the problem at large. But, in today's fast-growing environment, competition is increasing to a great extent thereby reducing the market share of each company.
4. STRATEGIES FOR NEXT DECISION ROUNDS
The All Sports Shoes Company has been focusing on internet sales and retail sales which have improved a lot due to the new marketing strategies and the cele
ity endorsement which in turn has increased the expenditure but the revenue has increased which has given the company a right push. The company is focusing on its motto of SHOES FOR EVERYONE and has been able to achieve in terms of the financial analysis as present in the assignment. The company aims at making shoes that can be worn by the people of each class and economic level and making the amount paid by them for its worth. The company aims at giving competition to the market leaders and if the company can maintain the quality of work that has been constantly maintained and improved by the company, the company will be able to capture the market. The company can focus more on the internet sales and set up its website as the selling point and give offers and discounts or package deals to the customers who will end up with more of the product.
RETAIL OUTLETS 4'786 (+8.6% vs YR13)
EBIT MARGIN 14.212%
GROSS REVENUE $M 938 (+21.9% vs YR13)
IMAGE RATING 76 (+5.5% vs YR13)
S/Q RATING 7* (+11.1% vs YR13)
AVERAGE PRODUCTIVITY 4'309'000 (+4.9% vs YR13)
SALES REVENUE & PROFIT
Sales     YEAR 10    YEAR 11    YEAR 12    YEAR 13    YEAR 14    432646    454976    729894    783757    912699    net profit %    YEAR 10    YEAR 11    YEAR 12    YEAR 13    YEAR 14    9.2454339113270528E-2    8.7376037417358179E-2    0.16576105571493943    0.13647342224694645    8.9727281392879915E-2    
SALES REVENUE '000
NET PROFIT %
STOCK LEVEL
NA    
YEAR 12    YEAR 13    YEAR 14    1156    981    1307    EA    
YEAR 12    YEAR 13    YEAR 14    641    1660    1305    AP    
YEAR 12    YEAR 13    YEAR 14    831    1319    1648    LA    
YEAR 12    YEAR 13    YEAR 14    407    737    513    
TOTAL PAIRS '000
PLANTS CAPACITY
NA    YEAR 12    YEAR 13    YEAR 14    1    1.05    1.2    AP    YEAR 12    YEAR 13    YEAR 14    1    1.149999999999999    1.2    LA    YEAR 12    YEAR 13    YEAR 14    1.2    1.1900000000000008    1.129999999999999    
CAPACITY %
TOTAL PRODUCTION
NA    4000
YEAR 12    YEAR 13    YEAR 14    4000    4200    4800    EA    YEAR 12    YEAR 13    YEAR 14    0    0    0    AP    6000
YEAR 12    YEAR 13    YEAR 14    6000    6900    7200    LA    3600
YEAR 12    YEAR 13    YEAR 14    3600    4750    4800    
TOTAL PRODUCTION '000
BRANDED PRODUCTION
PRODUCTIVITY    YEAR 12    YEAR 13    YEAR 14    4076    4108.3333333333294    4309.3333333333294    PRODUCTION COST    YEAR 12    YEAR 13    YEAR 14    27.38    28.64    29.259999999999987    PAIR/WORKER/YEAR $ '000
$/PAIR PRODUCED
REJECT RATE AND PRODUCTION
reject rate %    YEAR 10    YEAR 11    YEAR 12    YEAR 13    YEAR 14    8.6000000000000035E-2    8.2000000000000017E-2    6.6000000000000003E-2    7.0000000000000021E-2    5.5000000000000014E-2     Net Production    YEAR 10    YEAR 11    YEAR 12    YEAR 13    YEAR 14    8371    9919    12700    14765    15869    
REJECT RATE
TOTAL PRODUCTION
WHOLESALE PER REGION
NA    YEAR 12    YEAR 13    YEAR 14    149209    184385    216148    EA    YEAR 12    YEAR 13    YEAR 14    156702    157648    205469    AP    YEAR 12    YEAR 13    YEAR 14    96779    122059    152737    LA    YEAR 12    YEAR 13    YEAR 14    131079    138079    169714    TOTAL    YEAR 12    YEAR 13    YEAR 14    314731    602171    744068    
GROSS REVENUE $ '000
GROSS REVENUE $ '000
INTERNET SALES
NA    YEAR 12    YEAR 13    YEAR 14    40627    44227    57246    EA    YEAR 12    YEAR 13    YEAR 14    42510    40099    52358    AP    YEAR 12    YEAR 13    YEAR 14    26077    30030    38502    LA    YEAR 12    YEAR 13    YEAR 14    34933    34684    45778    TOTAL    YEAR 12    YEAR 13    YEAR 14    144147    149040    193884    
GROSS REVENUE $ '000
GROSS REVENUE $ '000
PRICE AND S/Q RATING
INTERNET PRICE    YEAR 12    YEAR 13    YEAR 14    84    89    93.75    WHOLESALE PRICE    YEAR 12    YEAR 13    YEAR 14    59.5    63.65    66.55    S/Q RATING    YEAR 12    YEAR 13    YEAR 14    5.8    6.3    7    
PRICE $
S/Q RATING
YEAR 12 YEAR 13YEAR 14
ACTUALACTUALACTUAL
Net Revenue729,894 783,757 7.4%912,699 16.5%
Cost of goods351,041 410,050 16.8%500,515 22.1%
Expenses187,023 203,442 8.8%282,467 38.8%
Net Profit120,988 106,962 -11.6%81,894 -23.4%
Net Profit %17%14%-20.2%9%-37.2%
ROI87.3%81.5%-6.7%69.7%-14.5%
ROE40.3 25.8 -36.0%21.8 -15.5%
ALL SPORTS
SHOES CO.
$ '000
YOY %YOY %
FINANCE ANALYSIS
    ALL SPORTS SHOES CO.    YEAR 10    YEAR 11        YEAR 12        YEAR 13        YEAR 14
        ACTUAL    TARGET    ACTUAL    TARGET    ACTUAL    TARGET    ACTUAL    TARGET    ACTUAL
    Revenue    432,646    454,278    454,976    500,474    729,894        783,757
    Cost of goods    228,053        233,184        351,041        410,050        500,515
    Expenses    137,276        156,293        187,023        203,442        282,467
    Net Profit    40,000    42,000    39,754    43,729    120,988        106,962        81,894
    Net Profit %    9.2%    9.7%    8.7%    9.6%    17%        14%        9%
    ROI            44.8%
Maia: Maia:
Net investment in YR 11 is $(000) 88'800        87.3%
Maia: Maia:
Net investment in year 12 is $(000) 138'540        81.5%
Maia: Maia:
Net investment is $ '000 131280
        69.7%
Maia: Maia:
Nei investment is $'000 117520
    ROE    20.0    21.0    17.7    22.0    40.3    23.0    25.8    24.0    21.8
    ALL SPORTS SHOES CO.    YEAR 10    YEAR 11            YEAR 12            YEAR 13            YEAR 14
        ACTUAL    TARGET    ACTUAL    % vs TARGET    TARGET    ACTUAL    % vs TARGET    TARGET    ACTUAL    % vs TARGET    TARGET    ACTUAL    % vs TARGET
    Earnings per Share    2    2    1.99    -0.5%    3    6.05    101.7%    3.5    5.35    52.9%    4    4.36    9.0%
     Credit rating    B    B+    B+    ACHIEVED    B+    B+    ACHIEVED        B+    ACHIEVED        A-    ACHIEVED
     Interest Coverage    6.62        7.52            10.1            9.75            10.19
     Bo
owings    132488        261856            268063            202319            378292
    Stock price    -    40    16.72    -58.2%    50    133.85    167.7%    65    99.25    52.7%    80    75.65    -5.4%
    ALL SPORTS SHOES CO.    YEAR 10    YEAR 11    YEAR 12    YEAR 13    YEAR 14
    Cu
ent Assets    97,778    144,911    244,615    290,341    295,452
    Cu
ent Liabilities    35,288    75,556    104,663    61,819    88,792
    Cu
ent Ratio    2.771    1.918    2.337    4.697    3.327
    ALL SPORTS SHOES CO. $ '000    YEAR 12     YEAR 13    YOY %    YEAR 14     YOY %
        ACTUAL    ACTUAL        ACTUAL
    Net Revenue    729,894    783,757    7.4%    912,699    16.5%
    Cost of goods    351,041    410,050    16.8%    500,515    22.1%
    Expenses    187,023    203,442    8.8%    282,467    38.8%
    Net Profit    120,988    106,962    -11.6%    81,894    -23.4%
    Net Profit %    17%    14%    -20.2%    9%    -37.2%
    ROI    87.3%
Maia: Maia:
Net investment in year 12 is $(000) 138'540    81.5%
Maia: Maia:
Net investment is $ '000 131280
    -6.7%    69.7%
Maia: Maia:
Nei investment is $'000 117520    
Maia: Maia:
Net investment in YR 11 is $(000) 88'800        
Maia: Maia:
Net investment in year 12 is $(000) 138'540        
Maia: Maia:
Net investment is $ '000 131280
    
Maia: Maia:
Net investment in year 12 is $(000) 138'540    
Maia: Maia:
Net investment is $ '000 131280
            -14.5%
    ROE    40.3    25.8    -36.0%    21.8    -15.5%
    ALL SPORTS SHOES CO. $ '000    YEAR 12             YEAR 13            YEAR 14
        TARGET    ACTUAL    % vs TARGET    TARGET    ACTUAL    % vs TARGET    TARGET    ACTUAL    % vs TARGET
    Earnings per Share    3    6.05    101.7%    3.5    5.35    52.9%    4    4.36    9.0%
     Credit rating    B+    B+    ACHIEVED        B+    ACHIEVED        A-    ACHIEVED
     Interest Coverage        10.1            9.75            10.19
     Bo
owings        268,063            202,319            378,292
    Stock price    50    133.85    167.7%    65    99.25    52.7%    80    75.65    -5.4%
    ALL SPORTS SHOES CO.      $ '000    YEAR 12    YEAR 13    YEAR 14
    Cu
ent Assets    244,615    290,341    295,452
    Cu
ent Liabilities    104,663    61,819    88,792
    Cu
ent Ratio    2.337    4.697    3.327
Company Performance
    ALL SPORTS SHOES CO.
                COMPANY OVERALL                                                BRANDED                                                PRIVATE LABEL                                                INTERNET
                2010    2011        2012        2013        2014        2015            2010    2011        2012        2013        2014        2015            2010    2011        2012        2013        2014        2015            2010    2011        2012        2013        2014        2015
                Actual    Target    Actual    Target    Actual    Target    Actual    Target    Actual    Target    Actual        Actual    Target    Actual    Target    Actual    Target    Actual    Target    Actual    Target    Actual        Actual    Target    Actual    Target    Actual    Target    Actual    Target    Actual    Target    Actual        Actual    Target    Actual    Target    Actual    Target    Actual    Target    Actual    Target    Actual
    OPERATIONS     Cost of production per pair        23        23.09        27.38        28.6        29.3                23        23.09        27.38        28.64        29.26                25.04                        24.09
         reject rate %        8.6%        8.20%        6.6%        7.0%        5.5%                8.6%        8.20%        6.6%        7%        5.5%                8.5%                        2.7%
         Net Production        8,371        9,919        12,700        14,765        15,869                7,571        9,919        12,700        14,230        15,869                800                        535
         % Superior materials
         no of models produced        200        250        450        500        500                200        250        450        500        500                100                        100
         TQM spend per pair        1.04        1.31        2.85        2.71        3.28                1.04        1.31        2.85        2.71        3.28                1.04                        2.57
         Quality        4        4.2        5.8        6.3        7                4        4.2
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lowest amongst 4 regions        5.8        6.3        7.0                3                        5
    LEARNING & DEVELOPMENT     Training spend        $848        $1,632        2,142        3,001        3,431                $848        $1,632        2,142        3,001        3,431
         TQM spend per pair        1.04        1.31        2.85        2.71        3.28                1.04        1.31        2.85        2.71        3.28
         Incentive pay        5,518        8,263        8,409        15,261        13,976                5,518        8,263        8,409        15,261        13,976
         Number of employees        1,943        2,456        3,300        3,546        3,431                1,943        2,456        3,300        3,546        3,431
    CUSTOMERS & MARKETING     Advertising Spend        52,000        62,840        64,000        63,250        108,750                29,323        38,215        37,030        38,868        74,045                                                                22,677        24625        26,970        24,382        34,705
         Cele
ity Endorsement payments        0        0        1,000        1001        1000                0        0        842        837        814                                                                0        0        158        164        186
         Image rating        70    70    66    72    73        72        76                70    70    66    72    73        72        76                70                        72                        70    70    66    72    73        72        76
         Price per pair                                                        50.38        50.78        59.59        63.41        66.55                34.5                        34
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Exclusive of RX adjustments                        69.38
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Excluding RX Adj    
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41%                                                                                                        72.09        84.08        88.77        93.8
         Market Share                                                        8.3%        8.7%        9.4%        8.60%        9.00%                                                                8.30%        7%        8.60%        7.60%        8.60%
         Retailer support Rebate        11,850        13,450        13,584        18,227        28,514                11,850        13,450        13,584        18227        28514
         Sales $        432,646    454,278    450,826    495,909    677,916    711,812    769,401    807,871    937,952                314731        363365        533769        602171        744068                27600                        18,190                        90315        87,461        144,147        149,040        193,884
         Sales units (000s)        8,150    8,558    8,238    9,062    9,665    10,148    10,068    10,571    11,096                6247        7155        8134        7974        9029                800                        535                        1103        1,083        1,531        1,559        2,067
    FINANCE     Earnings per Share        2    2    1.99    3    6.05    3.5    5.35    4    4.36
         Net Revenues
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Income Statement                                                                
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44%        
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40%    
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lowest amongst 4 regions                                                                
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Exclusive of RX adjustments    432,646    454,278    454,976    500,474    729,894    766,389    783,757    822,945    912,699
         Profit        40,000    42,000    39,754    43,729    120,988    127,037    106,962    112,310    81,894
         Net profit percentage        9.2%        8.7%    9%    16.6%    17%    13.6%    14%    9.0%
         Return on equity        20    21    17.7    22    40.3    23    25.8    24    21.8
         Credit rating        B    B+    B+    B+    B+    B+    B+    A-    A-
         Cu
ent ratio        2.77        1.92        2.34        4.7        3.33
         Interest Coverage        6.62        7.52        10.1        9.75        10.19
         Cash Balance        6,074        0        24,184        8,414        - 0
         Bo
owings        132,488        261,856        268,063        202,319        378,292
         New Shares on Issue        0        0        0        0        0
BALANCED SCOREBOARD
    METRIC     YEAR 13        % vs TARGET    YEAR 14        % vs TARGET
        TARGET    ACHIEVEMENT        TARGET    ACHIEVEMENT
    FINANCIAL
    MAINTAIN PROFITABILITY    $ 766,388,700    $ 783,757,000    2.3%    $ 822,944,850    $ 912,699,000    10.9%
    INCREASE EARNING PER SHARE    3.5    5.35    52.9%    4    4.36    9.0%
    CUSTOMER
    INCREASE RETAIL SUPPORT    $ 18,000,000    $ 18,227,000    ACHIEVED    $ 27,800,000    $ 28,514,000    ACHIEVED
    ON TIME DELIVERY    $ 7,900,000    $ 8,559,000    ACHIEVED    $ 13,000,000    $ 13,544,000    ACHIEVED
    INTERNAL PROCESS
    PREMIUM QUALITY SHOES WITH LOW PRODUCTION COST    $ 29.00    $ 28.64    ACHIEVED    $ 28.75    $ 29.26    NOT ACHIEVED
    OPTIMIZE RETAIL DISTRIBUTION     4,000    4,423    11%    4,500    4,786    6%
    DOUBLE MARKETING ACTIVITIES    -    $ 111,285,000    -    $ 200,000,000    $ 212,384,000    ACHIEVED
    IMPROVE S/Q STYLING    6    *    6.3    *    ACHIEVED    7    *    7    *    ACHIEVED
    LEARNING AND GROWTH
    AMELIORATE PRODUCTIVITY PER EMPLOYEE     $ 4,200,000    $ 4,108,000    NOT ACHIEVED    $ 4,200,000    $ 4,309,000    ACHIEVED
    INVEST IN TRAINING     $ 3,000,000    $ 3,001,000    ACHIEVED    $ 3,400,000    $ 3,431,000    ACHIEVED
    CSR INITIATIVES - YR 13 ETHICS TRAINING -YR14 IMPROVED WORKING CONDITIONS     -    $ 400,000    ACHIEVED    -    $ 8,200,000    ACHIEVED
Sheet1
    EBIT MARGIN 14.212%    GROSS REVENUE $M 938 (+21.9% vs YR13)    NET PROFIT MARGIN 9%
    IMAGE RATING 76 (+5.5% vs YR13)     RETAIL OUTLETS 4'786 (+8.6% vs YR13)    S/Q RATING 7* (+11.1% vs YR13)
    MARKETING SUPPORT 212'384'000 (+90.8% vs YR13)    AVERAGE PRODUCTIVITY 4'309'000 (+4.9% vs YR13)    EARNING / SHARE 4.36 (+9% vs Investor expectation)
DASHBOARD
    BALANCED SCORECARD DASH BOARD
    COMPANY    Good Quality Shoe Company
        Base Year 2010    2011    Industry AVG    Increase or     Decrease     on previous year    2012    Industry AVG    Increase or     Decrease     on previous year    2013    Industry AVG    Increase or     Decrease     on previous year    2014    Industry AVG    Increase or     Decrease     on previous year    Increase or     Decrease     on base year        Base Year 2010    2011    Industry AVG    Increase or     Decrease     on previous year    2012    Industry AVG    Increase or     Decrease     on previous year    2013    Industry AVG    Increase or     Decrease     on previous year    2014    Industry AVG    Increase or     Decrease     on previous year    Increase or     Decrease     on base yea
    PRODUCTIVITY/ OPERATIONS                                                            FINANCIAL
    Productivity per employee (pairs per annum)    4    4        (0)    4        (0)    4         0    5         0    7%    Sales    $ 432,646.00    $ 454,976.00        $ 22,330    $ 729,894        $ 274,918    $ 783,757        $ 53,863    $ 912,699        $ 128,942    111%
    Star rating    4.00    4.20        0.20    5.80        1.60    6.30        0.50    7.00        0.70    75%    Operating profit    $ 40,000    $ 39,754        (246)    $ 120,988.00        81,234    $ 106,962.00        (14,026)    $ 81,894.00        (25,068)    105%
    Reject Rate    9%    8%        -0%    7%        -2%    7%        0%    6%        -2%    -36%    EPS    $ 2.00    $ 1.99        -1%    $ 6.05        4    $ 5.35        (1)    $ 4.36        (1)    118%
    Cost of Production per pair    $ 22.55    $ 23.09        1    $ 27.38        4    $ 28.64        1    $ 29.26        1    30%    Cash Balance    $ 6,074.00    $ - 0             $ 24,184.00        24,184    $ 8,414.00        (15,770)    $ - 0             -100%
                                                                   Shares on Issue    - 0    - 0             - 0             - 0             - 0             
                                                                   Bo
owing    $ 132,488.00    $ 261,856.00        129,368    $ 268,063.00        6,207    $ 202,319.00        (65,744)    $ 378,292.00        175,973    186%
                                                                                                                               
                                                                                                                               
                                                                                                                               
                                                                                                                               
    CUSTOMERS AND MARKETING                                                            LEARNING AND DEVELOPMENT
        Base Year 2010    2011    Industry AVG    Increase or     Decrease     on previous year    2012    Industry AVG    Increase or     Decrease     on previous year    2013    Industry AVG    Increase or     Decrease     on previous year    2014    Industry AVG    Increase or     Decrease     on previous year    Increase or     Decrease     on base year        Base Year 2010    2011    Industry AVG    Increase or     Decrease     on previous year    2012    Industry AVG    Increase or     Decrease     on previous year    2013    Industry AVG    Increase or     Decrease     on previous year    2014    Industry AVG    Increase or     Decrease     on previous year    Increase or     Decrease     on base yea
     Image rating    70    66        (4)    73        7    72        (1)    76        4    9%    Training spend per employee    $ 848.00    $ 1,632.00        $ 784.00    $ 2,142.00        $ 510.00    $ 3,001.00        $ 859.00    $ 3,431.00        $ 430.00    305%
     Price per pair (Wholesale)    $ 50.38    $ 50.78        $ 0.40    $ 59.59        $ 8.81    $ 63.41        $ 3.82    $ 66.55        $ 3.14    32%     TQM spend per pair    $ 1.04    $ 1.31        $ 0.27    $ 2.85        $ 1.54    $ 2.71        -$ 0.14    $ 3.28        $ 0.57    215%
     Market Share (Wholesale)    8%    9%        0%    9%        1%    9%        -1%    9%        0%    8%     Green Materials %                                                            
     Retailer support Rebate    $ 11,850.00    $ 13,450.00        1,600    $ 13,584.00        134    $ 18,227.00        4,643    $ 28,514.00        10,287    141%     Incentive pay    5,518.00    8,263.00        2,745.00    8,409.00        146    15,261.00        6,852    13,976.00        (1,285)    153%
     Sales (in '000 Dollars)    $ 432,646.00    $ 450,826.00        18,180    $ 677,916.00        227,090    $ 769,401.00        91,485    $ 937,952.00        168,551    117%                                                                
                                                                                                                               
                                                                                                                               
                                                                                                                               
                                                                                                                  `            
                                                                                                                               
    Note areas that are shaded contain formulas                     DO NOT OVERWRITE THESE
    You may add other key information to these
GRAPHS
            MARKET SHARE / SHOE PRICE                                    REJECT RATE / SHOES PRODUCED
            Branded Shoes        YEAR 10    YEAR 11    YEAR 12    YEAR 13    YEAR 14                    YEAR 10    YEAR 11    YEAR 12    YEAR 13    YEAR 14
             Price per pair        $ 50.38    $ 50.78    $ 59.59    $ 63.41    $ 66.55             reject rate %        9%    8%    7%    7%    6%
             Market Share        8.3%    8.7%    9.4%    8.6%    9.0%             Net Production        8,371.00    9,919.00    12,700.00    14,765.00    15,869.00
            SALES REVENUE/PROFIT
                YEAR 10    YEAR 11    YEAR 12    YEAR 13    YEAR 14
            Sales     $ 432,646    $ 454,976    $ 729,894    $ 783,757    $ 912,699
            net profit %    9.2%    8.7%    16.6%    13.6%    9%
    BRANDED PRODUCTION NA
            YEAR 12    YEAR 13    YEAR 14
    pai
worke
year    PRODUCTIVITY    $ 4,076    $ 4,108    $ 4,309
    $/pair produced    PRODUCTION COST    27.38    28.64    29.26
        YEAR 12    YEAR 13    YEAR 14
    INTERNET PRICE    84    89    93.75
    WHOLESALE PRICE    59.5    63.65    66.55
    S/Q RATING    5.8    6.3    7
WHOLESALE MARKET SHARE
Price per pair    YEAR 10    YEAR 11    YEAR 12    YEAR 13    YEAR 14    50.38    50.78    59.59    63.41    66.55     Market Share    YEAR 10    YEAR 11    YEAR 12    YEAR 13    YEAR 14    8.3000000000000004E-2    8.6999999999999994E-2    9.4E-2    8.5999999999999993E-2    0.09    
WHOLESALE PRICE/PAIR
MARKET SHARE
REJECT RATE AND PRODUCTION
reject rate %    YEAR 10    YEAR 11    YEAR 12    YEAR 13    YEAR 14    8.5999999999999993E-2    8.2000000000000003E-2    6.6000000000000003E-2    7.0000000000000007E-2    5.5E-2     Net Production    YEAR 10    YEAR 11    YEAR 12    YEAR 13    YEAR 14    8371    9919    12700    14765    15869    
REJECT RATE
TOTAL PRODUCTION
SALES REVENUE & PROFIT
Sales     YEAR 10    YEAR 11    YEAR 12    YEAR 13    YEAR 14    432646    454976    729894    783757    912699    net profit %    YEAR 10    YEAR 11    YEAR 12    YEAR 13    YEAR 14    9.2454339113270431E-2    8.7376037417358277E-2    0.16576105571493943    0.13647342224694645    8.9727281392879804E-2    
SALES REVENUE '000
NET PROFIT %
BRANDED PRODUCTION
PRODUCTIVITY    YEAR 12    YEAR 13    YEAR 14    4076    4108.333333333333    4309.333333333333    PRODUCTION COST    YEAR 12    YEAR 13    YEAR 14    27.38    28.64    29.26    PAIR/WORKER/YEAR $ '000
$/PAIR PRODUCED
PRICE AND S/Q RATING
INTERNET PRICE    YEAR 12    YEAR 13    YEAR 14    84    89    93.75    WHOLESALE PRICE    YEAR 12    YEAR 13    YEAR 14    59.5    63.65    66.55    S/Q RATING    YEAR 12    YEAR 13    YEAR 14    5.8    6.3    7    
PRICE $
S/Q RATING
North America
        All Sports Shoes Co. North America
                YEAR 10            YEAR 11            YEAR 12            YEAR 13            YEAR 14            YEAR 15
                BRANDED     P/L    INTERNET    BRANDED     P/L    INTERNET    BRANDED     P/L    INTERNET    BRANDED     P/L    INTERNET    BRANDED     P/L    INTERNET    BRANDED     P/L    INTERNET
    OPERATIONS     reject rate %        7.00%    6.90%        7.40%    7.30%        8.40%    5.60%        8.90%    4%        4%    2%
        cost of Rejected pairs ($000)        6302    752        6964    0        9490    0        11669            6483    0
         % Superior materials        31.00%    20.00%        39.00%            38.00%            62.00%            70.00%
        Materials costs per pair $        8.52    7.48        9.3            9.75    0        10.66            10.46
         no of models produced        200    100        200            400    100        500    100        500    100
         TQM spend per pair        1.08    1.08        1.3    0        2.73            2.63            2.61
        Production costs per pair        23.98    26.93        25.46    0        30.87            34.24            33.57
        COG sold per pair        24.98            26.42            32.2            35.24            34.57
        Total Production (incl rej)        4463            4000            4000            4200            4800
        Capacity utilization        112%            100%            100%            105%            120%
        Completion of new/ add space (000s of pairs)        1000            0                        0            0
        Purchase of new equipment        0            0            0            0            0
        Production improvement options        0            0            0            10000
Maia: Maia:
Option A            0
        S/Q rating        4    *    3    *        4.2    0        5.8    4.7        6.3    5        7.1    5.3
        End of Year Inventory (000s)        71            369            1156            981            1307
        Inventory clearance ($000)                                11989            36911            37661
        operating profit margin        18.3%        22.5%    14.2%        18.9%    20.7%        27.8%    17.9%        27.2%    19.1%        25.6%
    LEARNING & DEVELOPMENT    Training expenditure        480            634            651            820            781
        Employee's productivity        5000            5045            4912            4879            5123
         Number of employees        800            793            814            820            781
         Incentive pay %        11.20%            8.60%            8.20%            14.90%            13.10%
        Number of supervisors        20            32            41            41            39
    CUSTOMERS & MARKETING     Advertising Spend        8498        1502    10469        1531    10134        1866    10527        1973    20372        4628
         Cele
ity Endorsement payments                                237        44    251        47    242        55
         Price per pair        48    32    67    48    35    69    60    42    84    61.55    36    86    66.55    34    94
         Market Share        8.30%        8.30%    8.80%        6.80%    8.60%        7.80%    8.50%        7.30%    9.00%        8.50%
         Retailer support        4000            5000            6180            6425            8738
        Sales $        95856    6400    28064    108960    0    22908    149209    0    40627    184385        44227    216148        57246
        Sales units (000s)        1997    200    353    2270    0    332    2287    0    421    2396        449    2682        609
        Search engine advertising                5000            5500            5500            5000            5250
        Total marketing expenses        16492        7652    20010        8181    21125        9360    20917        9370    35521        12283
Europe Africa
    ALL SPORTS SHOES CO. Europe Africa
                YEAR 10            YEAR 11            YEAR 12            YEAR 13            YEAR 14            YEAR 15
                BRANDED     P/L    INTERNET    BRANDED     P/L    INTERNET    BRANDED     P/L    INTERNET    BRANDED     P/L    INTERNET    BRANDED     P/L    INTERNET    BRANDED     P/L    INTERNET
    OPERATIONS     reject rate %        0.00%    0.00%    0.00%    0.00%    0.00%    0.00%    0.00%    0.00%    0.00%
        cost of Rejected pairs ($000)        0    0    0    0    0    0    0    0    0
         % Superior materials        0.00%    0.00%    0.00%    0.00%    0.00%    0.00%    0.00%    0.00%    0.00%    0.00%    0.00%    0.00%    0.00%    0.00%    0.00%
        Materials costs per pair $                                0            0            0
         no of models produced        200    100        246    0        443    0
         TQM spend per pair        0    0    0    0    0    0.00%    0    0    0
        Production costs per pair        0    0    0    0    0    0    0    0    0
        COG sold per pair        30.98            20.97            34.81            34.28            33.55
        Total Production (incl rej)        0            0            0
        Capacity utilization        0%            0%            0%
        Completion of new/ add space (000s of pairs)        0            0            0
        Purchase of new equipment        0            0            0
        Production improvement options        0            0            0
        S/Q rating        4    3        4.5    0    4.5    6.2    4.6    6.2
        End of Year Inventory (000s)        60            657            641            1660            1305
        Inventory clearance ($000)        0            0            21473            23345            54922
        operating profit margin        13.3%        17.9%    14.1%        16.8%    19.5%        27.1%    16.5%        25.9%    21.0%        27.5%
    LEARNING & DEVELOPMENT    Training expenditure        0            0            0
        Employee's productivity        0            0            0
         Number of employees        0            0            0
         Incentive pay %        0.00%            0.00%            0.00%
        Number of supervisors        0            0            0
    CUSTOMERS & MARKETING     Advertising Spend        7650        1350    9919        1581    9639        1861    10099        1901    19294        4706
         Cele
ity Endorsement payments                                234        45    225        42    206        50
         Price per pair        48    37    72    48    38    69    60    41    84    62.25    36    87    66.55    36    94
         Market Share        8.30%        8.30%    8.50%        7.20%    9.70%        9.20%    8.70%        7.40%    8.70%        8.90%
         Retailer support        4000            4250            3630            5733            7086
        Sales $        90100    7400    25350    100700        26513    156702        42510    157648        40099    205469        52358
        Sales units (000s)        1700    200    300    1900    0    303    2259        436    2141        403    2283        557
        Search engine advertising                4500            5500            5500            4250            4500
        Total marketing expenses        15050        7000    17969        8413    18021    0    9529    19376        8543    31837        11606
Asia Pacific
    ALL SPORTS SHOES CO. Asia Pacific
                YEAR 10            YEAR 11            YEAR 12            YEAR 13            YEAR 14            YEAR 15
                BRANDED     P/L    INTERNET    BRANDED     P/L    INTERNET    BRANDED     P/L    INTERNET    BRANDED     P/L    INTERNET    BRANDED     P/L    INTERNET    BRANDED     P/L    INTERNET
         reject rate %        10.10%    10.00%        8.60%    8.00%        5.20%    3.30%        5.40%    3%        5%    3%
        cost of Rejected pairs ($000)        8175    916        11560    0        7508    0        9007            9420
         % Superior materials        54.00%    20.00%        48.00%            60.00%            68.00%            70.00%
        Materials costs per pair $        10.28            10.53            10.13            10.55            10.65
         no of models produced        200        100    250        100    450        100    500    100        500    100
         TQM spend per pair        1            1.31            2.95            2.75            3.27
        Production costs per pair        21.15            21.68            25.44            25.54            26.5
        COG sold per pair                                26.44            26.54            27.51
        Total Production (incl rej)        4693            6800            6000            6900            7200
        Capacity utilization        117%            113%            100%            115%            120%
        Completion of new/ add space (000s of pairs)        2000            0            0            0            0
        Purchase of new equipment (000s of pairs)        0            2000            0            0            0
        Production improvement options                     1500
Maia: Maia:
Option A                         0            0
        S/Q rating        4        3    4.5        0    5.2        4.6    6.3    5        7    5.2
        End of Year Inventory (Pairs)        45            481            831            1319            1648
        Inventory clearance ($000)        0            0            13271            20607            29371
        operating profit margin        21.9%        17.5%    21.9%        17.8%    29.2%        28.8%    29.9%        24.9%    26.6%        28.9%
    LEARNING & DEVELOPMENT    Training expenditure        457            998            1013            1369            1604
        Employee's productivity        3500            3607            3552            3506            3741
         Number of employees        1143            1663            1689            1711            1604
         Incentive pay %        10.40%            19.50%            15.50%            15.20%            15.30%
        Number of supervisors        29            33            42            43            46
    CUSTOMERS & MARKETING     Advertising Spend        6800        1200    8658        1342    8415        1585    8658        1842    17184        3816
         Cele
ity Endorsement payments        0            0            171        32    163        35    168        37
         Price per pair        48    32    67    49    30    70    58    40    83    65.05    37    91    66.55    37    93
         Market Share        8.30%        8.30%    8.80%        7.20%    9.00%        8.10%    7.80%        7.40%    8.40%        7.80%
         Retailer support        1925            2100            1977            2499            7107
        Sales $        61200    6400    17888    73353        19140    96779        26077    122059        30030    152737        38502
        Sales units (000s)        1275        225    1497        232    1657        312    1551        330    1864        414
        Search engine advertising                4000            4250            4500            3750            4000
        Total marketing expenses        11275        6350    13752        6938    13877        8267    16904        7977    29645        10203
Latin America
    ALL SPORTS SHOES CO. Latin America
                YEAR 10            YEAR 11            YEAR 12            YEAR 13            YEAR 14            YEAR 15
                BRANDED     P/L    INTERNET    BRANDED     P/L    INTERNET    BRANDED     P/L    INTERNET    BRANDED     P/L    INTERNET    BRANDED     P/L    INTERNET    BRANDED     P/L    INTERNET
         reject rate %                                7.00%    4.20%        7.70%    3%        7%    3%
        cost of Rejected pairs ($000)                                6294            8452    353        9557
         % Superior materials                                56.00%            64.00%    24.09%        70.00%
        Materials costs per pair $                                10.07            10.7            10.91
         no of models produced        0    100        0    0        400    100        500    100        500    100
         TQM spend per pair                                2.8            2.71            3.35
        Production costs per pair                                26.86            28.33            29.03
        COG sold per pair                                27.86            29.33            30.03
        Total Production (incl rej)                                3600            4750            4800
        Capacity utilization        0%            0%            120%            119%            113%
        Completion of new/ add space (000s of pairs)        0            0            5000                        0
        Purchase of new equipment (000s of pairs)        0            0            3000            1000            250
        Production improvement options        0            0            0                        10625
Maia: Maia:
Option A
        S/Q rating            3                    6.6            6.5    5        7.2    5
        End of Year Inventory (000s)        45            395            407            737            513
        Inventory clearance ($000)        0            0            18231            16026            19359
        operating profit margin        9.1%        9.8%    6.1%        10.5%    41.8%        42.0%    37.9%    12.6%    36.8%    9.4%        15.2%
    LEARNING & DEVELOPMENT    Training expenditure                                478            812            1046
        Employee's productivity                                3764            3940            4064
         Number of employees                                797            1015            1046
         Incentive pay %                                11.40%            28.40%            24.70%
        Number of supervisors                                40            51            42
    CUSTOMERS & MARKETING     Advertising Spend        6375        1125    9169        1331    8415        1658    9584        1916    17195        3805
         Cele
ity Endorsement payments                                200        37    198        40    198        44
         Price per pair        53    37    72    54    35    75    60    42    84    65.75    34    92    66.55    35    94
         Market Share        8.30%        8.30%    8.60%    0.00%    6.60%    10.20%    0.00%    9.30%    9.10%        8.20%    9.70%        9.00%
         Retailer support        1925            2100            1797            3570            7107
        Sales $        67575    7400    19013    80352        18900    131079        34933    138079    18190    34684    169714        45778
        Sales units (000s)        1275    200    225    1488        216    1931        362    1886    535    377    2200        487
        Search engine advertising                4000            3500            4500            3750            4000
        Total marketing expenses        10850        6275    14245        6119    14701        8145    20142        8056    30550        10199
OPERATION ANALYSIS
    STOCK LEVEL
        NA    EA    AP    LA    TOTAL OVER STOCK
    YEAR 10    71    60    45    45    221    2.7%
    YEAR 11    369    657    481    395    1902    23.1%
    YEAR 12    1156    641    831    407    3035    31.4%
    YEAR 13    981    1660    1319    737
    YEAR 14    1307    1305    1648    513
                INVENTORY CLEARANCE        61549
                        9.1%
    PRODUCTION LEVEL
        NA    EA    AP    LA
    YEAR 10    4,463    - 0    4,693    - 0
    YEAR 11    4,000    - 0    6,800    - 0
    YEAR 12    4,000    - 0    6,000    3,600
    YEAR 13    4200    - 0    6900    4750
    YEAR 14    4800    - 0    7200    4800
     PRODUCTIVITY $ '000    NA        AP        LA
        ALL SS    IA    ALL SS    IA    ALL SS    IA
    YEAR 11    5,045    AVERAGE    3,607    AVERAGE    - 0    -
    YEAR 12    4,912    AVERAGE    3,552    AVERAGE    3,764    LOW
    YEAR 13    4,879    LOW    3,506    LOW    3,940    LOW
    YEAR 14    5,123    AVERAGE    3,741    AVERAGE    4,064    AVERAGE
    YOY 14 vs13    5.0%        6.7%        3.1%
    *ALL SS: ALL SPORTS SHOES Co.
    ** IA: INDUSTRY AVERAGE
    CAPACITY
        NA    EA    AP    LA
    YEAR 10    112%    0%    117%    -
    YEAR 11    100%    0%    113%    -
    YEAR 12    100%    0%    100%    120%
    YEAR 13    105%    0%    115%    119%
    YEAR 14    120%    0%    120%    113%
    
STOCK LEVEL
NA    
YEAR 12    YEAR 13    YEAR 14    1156    981    1307    EA    
YEAR 12    YEAR 13    YEAR 14    641    1660    1305    AP    
YEAR 12    YEAR 13    YEAR 14    831    1319    1648    LA    
YEAR 12    YEAR 13    YEAR 14    407    737    513    
TOTAL STOCK '000
TOTAL PRODUCTION
NA    4000
YEAR 12    YEAR 13    YEAR 14    4000    4200    4800    EA    YEAR 12    YEAR 13    YEAR 14    0    0    0    AP    6000
YEAR 12    YEAR 13    YEAR 14    6000    6900    7200    LA    3600
YEAR 12    YEAR 13    YEAR 14    3600    4750    4800    
TOTAL PRODUCTION '000
PLANTS CAPACITY
NA    YEAR 12    YEAR 13    YEAR 14    1    1.05    1.2    AP    YEAR 12    YEAR 13    YEAR 14    1    1.1499999999999999    1.2    LA    YEAR 12    YEAR 13    YEAR 14    1.2    1.19    1.1299999999999999    
CAPACITY %
MARKETING ANALYSIS
    ALL SPORTS SHOES CO.    YEAR 10    YEAR 11        YEAR 12        YEAR 13        YEAR 14        TREND
        ACTUAL    TARGET    ACTUAL    TARGET    ACTUAL    TARGET    ACTUAL    TARGET    ACTUAL    YR 14 vs YR13
    WHOLESALE    314,731    330,468    363,365        546,275        602,171        744,068    24%
    PRIVATE LABELS    27,600    28,980    -        - 0        18,190        - 0    -100%
    INTERNET    90,315    94,831    87,461        147,866        149,040        193,884    30%
    ALL SPORTS SHOES CO. $ '000    YEAR 12 SALES    YEAR 13 SALES    YEAR 14 SALES    YR 14 vs YR13
    WHOLESALE    546,275    602,171    744,068    24%
    PRIVATE LABELS    - 0    18,190    - 0    -100%
    INTERNET    147,866    149,040    193,884    30%
    SALES PER REGION                    TOTAL
    BRANDED/$000    NA    EA    AP    LA    314731
    YEAR 10    95856    90100    61200    67575    363365
    YEAR 11    108960    100700    73353    80352    533769
    YEAR 12    149209    156702    96779    131079    602171
    YEAR 13    184385    157648    122059    138079    744068
    YEAR 14    216148    205469    152737    169714
    SAELS UNIT                     TOTAL
    BRANDED / pairs    NA    EA    AP    LA    6247
    YEAR 10    1997    1700    1275    1275    7155
    YEAR 11    2270    1900    1497    1488    8134
    YEAR 12    2287    2259    1657    1931    7974
    YEAR 13    2396    2141    1551    1886    9029
    YEAR 14    2682    2283    1864    2200
                        TOTAL
    INTERNET/ $'000    NA    EA    AP    LA    90315
    YEAR 10    28064    25350    17888    19013    87461
    YEAR 11    22908    26513    19140    18900    144147
    YEAR 12    40627    42510    26077    34933    149040
    YEAR 13    44227    40099    30030    34684    193884
    YEAR 14    57246    52358    38502    45778
    INTERNET/PAIRS    NA    EA    AP    LA
    YEAR 10    353    300    225    225
    YEAR 11    332    303    232    216
    YEAR 12    421    436    312    362
    YEAR 13    449    403    330    377
    YEAR 14    609    557    414    487
    PRICES
    ALL SPORTS SHOES Co. PRICES vs INDUSTRY AVERAGE    NA        EA        AP        LA
        ALL SS    IA    ALL SS    IA    ALL SS    IA    ALL SS    IA
    WHOLESALE PRICES $
    YEAR 10    48    48    53    53    48    48    53    53
    YEAR 11    48    53.87    53    56.79    49    53.96    54    56.91
    YEAR 12    60    59    60    58.29    58    56.33    60    58.33
    YEAR 13    61.55    59.63    62.25    60.39    65.05    59.75    65.75    60.77
    YEAR 14    66.55    59.96    66.55    60.88    66.55    59.92    66.55    61.33
    INTERNET PRICES $
    YEAR 10    67    67    72    72    67    67    72    72
    YEAR 11    69    76.25    75    78.83    70    76.33    75    78.92
    YEAR 12    84    83.54    85    82.37    83    79.62    84    82.37
    YEAR 13    86    83.87    87    84.71    91    84.21    92    85.21
    YEAR 14    94    84.87    94    85.83    93    84.33    94    86.79
    ADVERSTISING SPEND $/PAIR    NA    EA     AP    LA    TOTAL ADVERSTISING AVERAGE
    YEAR 10    4.26    4.50    5.33    5.00    4.77
    YEAR 11    4.61    5.22    5.78    6.16    5.44
    YEAR 12    4.43    4.27    5.08    4.39    4.54
    YEAR 13    4.39    4.72    5.58    5.08    4.94
    YEAR 14    7.60    8.45    9.22    7.82    8.27
    AVERAGE PER REGION    5.06    5.43    6.20    5.69    5.59
WHOLESALE PER REGION
NA    YEAR 12    YEAR 13    YEAR 14    149209    184385    216148    EA    YEAR 12    YEAR 13    YEAR 14    156702    157648    205469    AP    YEAR 12    YEAR 13    YEAR 14    96779    122059    152737    LA    YEAR 12    YEAR 13    YEAR 14    131079    138079    169714    TOTAL    YEAR 12    YEAR 13    YEAR 14    314731    602171    744068    
GROSS REVENUE $ '000
GROSS REVENUE $ '000
INTERNET SALE PER REGION
YEAR 12    YEAR 13    YEAR 14    40627    44227    57246    YEAR 12    YEAR 13    YEAR 14    42510    40099    52358    YEAR 12    YEAR 13    YEAR 14    26077    30030    38502    YEAR 12    YEAR 13    YEAR 14    34933    34684    45778    YEAR 12    YEAR 13    YEAR 14    90315    149040    193884    
GROSS REVENUE $ '000
GROOS REVENUE $ '000
RESOURCE-LEARNING
    ALL SPORTS SHOES CO. $ '000    Training spend per employee    Employee's productivity     Number of employees     Incentive pay %    Number of supervisors
    YEAR 10
    NA    480    5,000    800    11.20%    20
    EA    - 0    - 0    - 0    - 0    - 0
    AP    457    3,500    1,143    10.40%    29
    LA    - 0    - 0    - 0    - 0    - 0
    YEAR 11
    NA    634    5,045    793    8.60%    32
    EA    - 0    - 0    - 0    - 0    - 0
    AP    998    3,607    1,663    19.50%    33
    LA    - 0    - 0    - 0    - 0    - 0
    YEAR 12
    NA    651    4,912    814    8.20%    41
    EA    - 0    - 0    - 0    - 0    - 0
    AP    1,013    3,552    1,689    15.50%    42
    LA    478    3,764    797    11.40%    40
    YEAR 13
    NA    820    4,879    820    14.90%    41
    EA    - 0    - 0    - 0    - 0    - 0
    AP    1,369    3,506    1,711    15.20%    43
    LA    812    3,940    1,015    28.40%    51
    YEAR 14
    NA    781    5,123    781    13.10%    39
    EA    - 0    - 0    - 0    - 0    - 0
    AP    1,604    3,741    1,604    15.30%    46
    LA    1,046    4,064    1,046    24.70%    42
TARGETACTUAL
% vs
TARGET
TARGETACTUAL
% vs
TARGET
Earnings per Share3.55.3552.9%44.369.0%
Credit ratingB+B+ACHIEVEDA-A-ACHIEVED
Interest Coverage9.7510.19
Bo
owings202,319 378,292
Stock price6599.2552.7%8075.65-5.4%
ALL SPORTS
SHOES CO.
$ '000
YEAR 13YEAR 14
FINANCE ANALYSIS
    ALL SPORTS SHOES CO.    YEAR 10    YEAR 11        YEAR 12        YEAR 13        YEAR 14
        ACTUAL    TARGET    ACTUAL    TARGET    ACTUAL    TARGET    ACTUAL    TARGET    ACTUAL
    Revenue    432,646    454,278    454,976    500,474    729,894        783,757
    Cost of goods    228,053        233,184        351,041        410,050        500,515
    Expenses    137,276        156,293        187,023        203,442        282,467
    Net Profit    40,000    42,000    39,754    43,729    120,988        106,962        81,894
    Net Profit %    9.2%    9.7%    8.7%    9.6%    17%        14%        9%
    ROI            44.8%
Maia: Maia:
Net investment in YR 11 is $(000) 88'800        87.3%
Maia: Maia:
Net investment in year 12 is $(000) 138'540        81.5%
Maia: Maia:
Net investment is $ '000 131280
        69.7%
Maia: Maia:
Nei investment is $'000 117520
    ROE    20.0    21.0    17.7    22.0    40.3    23.0    25.8    24.0    21.8
    ALL SPORTS SHOES CO.    YEAR 10    YEAR 11            YEAR 12            YEAR 13            YEAR 14
        ACTUAL    TARGET    ACTUAL    % vs TARGET    TARGET    ACTUAL    % vs TARGET    TARGET    ACTUAL    % vs TARGET    TARGET    ACTUAL    % vs TARGET
    Earnings per Share    2    2    1.99    -0.5%    3    6.05    101.7%    3.5    5.35    52.9%    4    4.36    9.0%
     Credit rating    B    B+    B+    ACHIEVED    B+    B+    ACHIEVED        B+    ACHIEVED        A-    ACHIEVED
     Interest Coverage    6.62        7.52            10.1            9.75            10.19
     Bo
owings    132488        261856            268063            202319            378292
    Stock price    -    40    16.72    -58.2%    50    133.85    167.7%    65    99.25    52.7%    80    75.65    -5.4%
    ALL SPORTS SHOES CO.    YEAR 10    YEAR 11    YEAR 12    YEAR 13    YEAR 14
    Cu
ent Assets    97,778    144,911    244,615    290,341    295,452
    Cu
ent Liabilities    35,288    75,556    104,663    61,819    88,792
    Cu
ent Ratio    2.771    1.918    2.337    4.697    3.327
    ALL SPORTS SHOES CO. $ '000    YEAR 12     YEAR 13    YOY %    YEAR 14     YOY %
        ACTUAL    ACTUAL        ACTUAL
    Net Revenue    729,894    783,757    7.4%    912,699    16.5%
    Cost of goods    351,041    410,050    16.8%    500,515    22.1%
    Expenses    187,023    203,442    8.8%    282,467    38.8%
    Net Profit    120,988    106,962    -11.6%    81,894    -23.4%
    Net Profit %    17%    14%    -20.2%    9%    -37.2%
    ROI    87.3%
Maia: Maia:
Net investment in year 12 is $(000) 138'540    81.5%
Maia: Maia:
Net investment is $ '000 131280
    -6.7%    69.7%
Maia: Maia:
Nei investment is $'000 117520    
Maia: Maia:
Net investment in YR 11 is $(000) 88'800        
Maia: Maia:
Net investment in year 12 is $(000) 138'540        
Maia: Maia:
Net investment is $ '000 131280
    
Maia: Maia:
Net investment in year 12 is $(000) 138'540    
Maia: Maia:
Net investment is $ '000 131280
            -14.5%
    ROE    40.3    25.8    -36.0%    21.8    -15.5%
    ALL SPORTS SHOES CO. $ '000    YEAR 12             YEAR 13            YEAR 14
        TARGET    ACTUAL    % vs TARGET    TARGET    ACTUAL    % vs TARGET    TARGET    ACTUAL    % vs TARGET
    Earnings per Share    3    6.05    101.7%    3.5    5.35    52.9%    4    4.36    9.0%
     Credit rating    B+    B+    ACHIEVED        B+    ACHIEVED        A-    ACHIEVED
     Interest Coverage        10.1            9.75            10.19
     Bo
owings        268,063            202,319            378,292
    Stock price    50    133.85    167.7%    65    99.25    52.7%    80    75.65    -5.4%
    ALL SPORTS SHOES CO. $ '000    YEAR 13            YEAR 14
        TARGET    ACTUAL    % vs TARGET    TARGET    ACTUAL    % vs TARGET
    Earnings per Share    3.5    5.35    52.9%    4    4.36    9.0%
     Credit rating    B+    B+    ACHIEVED    A-    A-    ACHIEVED
     Interest Coverage        9.75            10.19
     Bo
owings        202,319            378,292
    Stock price    65    99.25    52.7%    80    75.65    -5.4%
    ALL SPORTS SHOES CO. $ '000    YEAR 12    YEAR 13    YEAR 14
    Cu
ent Assets    244,615    290,341    295,452
    Cu
ent Liabilities    104,663    61,819    88,792
    Cu
ent Ratio    2.34    4.70    3.33
Company Performance
    ALL SPORTS SHOES CO.
                COMPANY OVERALL                                                BRANDED                                                PRIVATE LABEL                                                INTERNET
                2010    2011        2012        2013        2014        2015            2010    2011        2012        2013        2014        2015            2010    2011        2012        2013        2014        2015            2010    2011        2012        2013        2014        2015
                Actual    Target    Actual    Target    Actual    Target    Actual    Target    Actual    Target    Actual        Actual    Target    Actual    Target    Actual    Target    Actual    Target    Actual    Target    Actual        Actual    Target    Actual    Target    Actual    Target    Actual    Target    Actual    Target    Actual        Actual    Target    Actual    Target    Actual    Target    Actual    Target    Actual    Target    Actual
    OPERATIONS     Cost of production per pair        23        23.09        27.38        28.6        29.3                23        23.09        27.38        28.64        29.26                25.04                        24.09
         reject rate %        8.6%        8.20%        6.6%        7.0%        5.5%                8.6%        8.20%        6.6%        7%        5.5%                8.5%                        2.7%
         Net Production        8,371        9,919        12,700        14,765        15,869                7,571        9,919     &nb