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Industry 20
Year 12
Year 12 Scoreboard
Rank
1
2
3
4
5
Company Name
A The Road X
Dynamite Footwear
E Sole Train
B Barefoot
Cynergy
Investor
Expectation
Score
Best-InIndustry
Score
Overall
Score
Change
from Y11
116
114
114
107
83
98
78
65
60
45
107
96
90
84
64
+13
+10
16
18
38
Bonus
Points
Game-To-Date Scoreboard
Rank
1
2
3
4
5
Investor Expectation
Score (I.E.)
Company Name
A The Road X
E Sole Train
Dynamite Footwear
B Barefoot
Cynergy
Investor
Expectation
Score
Best-InIndustry
Score
Overall
Score
115
116
112
111
96
98
75
78
70
58
107
96
95
91
77
1
1
0
1
0
Overall
G-T-D
Score
108
97
95
92
77
Investors and company boards of directors have established annual targets for five key performance measures
and the importance weighting of each: EPS (20 points), ROE (20 points), Stock Price ( 20 points), Credit Rating
(20 points), and Image Rating (20 points). Pages 2 and 3 of this report show the investor expectation targets (in
parenthesis just under the column heads for each year). The investor expectation score on a performance
measure is equal to the percentage of the target that was achieved. Achieving higher than targeted performance
results in additional awards of 0.5% for each 1% overachieved (capped at 40% over the target). Thus the investor
expectation score ranges from 0 to a max of 120 (if all targets are exceeded by 40% or more).
Best-In-Industry This scoring standard is based on how well each company performs relative to the best-performing company in
Score (B-I-I)
the industry on EPS (20 points max), ROE (20 points max), Stock Price (20 points max), Credit Rating (20 points
max), and Image Rating (20 points max). In order to get a score of 100 a company must be the best performing
company in the industry on all five measures, achieve no lower than the investor expectation on EPS, ROE, Stock
Price, and Image Rating, and have an A+ Credit Rating.
Overall Score
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This measure is used to determine each company's ranking in the Year 12 Scoreboard and the Game-To-Date
Scoreboard above. The overall score is calculated by combining the Investor Expectation Score and the Best-InIndustry Score into a single score using the 50%-50% weighting as specified by the course instructor.
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INDUSTRY 20
YEAR 12
Y11
A
B
C
D
E
Y12
(2.67)
(2.85)
3.30
3.88
4.37
3.00
3.98
7.13
3.38
2.41
5.31
4.08
Y13
(3.05)
Y14
(3.26)
Y15
(3.49)
Y16
Y17
(3.66)
(3.84)
Y18
(4.03)
Y19
(4.23)
Y20
(4.44)
Wgt. Avg.
Y12 Score
(2.76)
I.E.
5.22
3.63
3.39
4.15
4.03
24
22
17
24
24
B-I-I
20
9
7
15
11
G-T-D Score
I.E.
24
23
22
24
24
B-I-I
20
14
13
16
15
A
B
C
D
E
Y11
A
B
C
D
E
Y12
(15.0)
(15.0)
20.3
22.7
25.2
18.0
23.3
34.9
16.6
11.6
25.5
19.4
Y13
(15.0)
Y14
(15.0)
Y15
(15.0)
Y16
(15.0)
Y17
(15.0)
Y18
(15.0)
Y19
(15.0)
Y20
(15.0)
Wgt. Avg.
Y12 Score
(15.0)
I.E.
28.4
19.4
17.8
22.2
21.1
24
21
15
24
23
B-I-I
20
10
7
15
11
G-T-D Score
I.E.
24
23
22
24
24
B-I-I
20
14
13
16
15
A
B
C
D
E
Y11
A
B
C
D
E
Y12
(32.00)
(34.25)
56.22
56.79
70.87
36.29
70.48
153.94
39.76
33.47
93.48
57.22
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Y13
(36.75)
Y14
(39.25)
Y15
(42.00)
Y16
(44.25)
Y17
(46.25)
Y18
(48.75)
Y19
(51.25)
Y20
(53.50)
Y12 Score
I.E.
24
22
20
24
24
B-I-I
20
5
4
12
7
G-T-D Score
I.E.
24
22
20
24
24
B-I-I
20
5
4
12
7
A
B
C
D
E
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INDUSTRY 20
YEAR 12
(concluded)
Credit Rating
Credit Rating scores are based on a 20% or 20 point weighting. Bolded credit ratings indicate meeting or beating the B+ investor
expectation shown below each column head. For the Best- In-Industry scoring, companies with an A+ credit rating earn a score of 20
points and lesser credit ratings earn lower scores. Game-To-Date scores are based soley on the most recent year's credit rating.
Y11
Y12
B
A
A
A
A
A
A
B
A
A
(B+)
A
B
C
D
E
(B+)
Y13
(B+)
Y14
(B+)
Y15
(B+)
Y16
Y17
(B+)
Y18
(B+)
Y19
(B+)
Y20
(B+)
Y12 Score
(B+)
I.E.
22
23
16
23
23
B-I-I
18
19
14
19
19
G-T-D Score
I.E.
22
23
16
23
23
B-I-I
18
19
14
19
19
A
B
C
D
E
Image Rating
Image Rating scores are based on a 20% or 20 point weighting. Bolded image ratings indicate meeting or beating the yearly target
shown below each column head. Best-In-Industry performers earn top scores; scores of other companies are a percentage of the
industry-leading image rating. Game-To-Date scores are based on company's average image rating over the last three years.
Y11
Y12
79
71
57
57
80
81
67
52
67
70
(70)
A
B
C
D
E
(70)
Y13
(70)
Y14
(70)
Y15
(70)
Y16
Y17
(70)
Y18
(70)
Y19
(70)
Y20
(70)
(70)
Average
80
70
55
60
77
Year 11
Year 12
Y10-Y12
3,145
3,846
0
1,050
0.93
1.09
0.57
0.61
0.00
0.40
20
17
13
17
17
G-T-D Score
I.E.
21
20
16
17
21
B-I-I
20
18
14
15
19
A
B
C
D
E
2
3
0
2
Award Winner
Y14
Y13
Y12
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22
19
15
19
20
B-I-I
Y12 Score
I.E.
A Company
A Company
none
2nd Place
B Company
B Company
none
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INDUSTRY20
Revenues(within 5%)
Year 12
Year 12 Percent
Forecast Actual Variance
A
B
C
D
E
423,872
251,319
399,269
332,191
335,251
448,367
242,411
157,653
314,001
293,514
EPS(within 5% or 10)
Year 12
Year 12 Percent
Forecast Actual Variance
+5.8 %
3.5 %
60.5 %
5.5 %
12.4 %
6.47
3.99
11.68
6.02
5.72
7.13
3.38
2.41
5.31
4.08
YEAR12
+10.2 %
15.3 %
79.4 %
11.8 %
28.7 %
78
74
74
74
80
81
67
52
67
70
+3 +3.8 %
7 9.5 %
22 29.7 %
7 9.5 %
10 12.5 %
No
No
No
No
No
0
1
0
0
1
A
B
C
D
E
Range of Average Percent Variances (for Revenues, EPS, and Image Rating) for all Industry 12
Companies, World-Wide Average Percent Variance, and Company D Average Percent Variance
Industry High/Low
Company D Average
World Average
20%
0%
-20%
-40%
-60%
Year 11
Year 12
Year
Current-Year Scores
= net change in score between years
A
B
C
D
E
Y11
Score
Y12
Score
94
102
102
86
106
+13
18
38
+10
16
107
84
64
96
90
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0
0
0
0
0
Y13
Score
Y14
Score
Y15
Score
Y16
Score
Y17
Score
Y18
Score
Y19
Score
Y20
Score
Cumulative
Awards
1
0
0
0
0
A
B
C
D
E
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INDUSTRY 20
Materials Prices
Base
Price
($/pair)
Standard Materials
Superior Materials
6.00
12.00
+0.04
0.02
YEAR 12
Year 12
Price
0.00
0.00
Notes
Lower than normal (49.7%) superior materals usage lead to superior
materials prices that were 0.2% below the base and standard
materials prices that were 0.6% above the base. Capacity utilization
false resulted in materials price increases of 0.0%.
6.04
11.98
N.A.
Plants
E-A
Plants
A-P
Plants
L.A.
Plants
All
Plants
9,725
532
9,193
47.7%
104.6%
0
0
0
0.0%
0.0%
20,257
1,223
19,034
49.2%
101.3%
3,600
237
3,363
58.0%
120.0%
33,582
1,992
31,590
49.7%
104.0%
Branded Warehouses
N.A.
Region
E-A
Region
A-P
Region
L.A.
Region
All
Regions
868
200
668
6,921
7,589
564
130
434
7,945
8,379
736
173
563
6,999
7,562
140
29
111
5,622
5,733
2,308
532
1,776
27,487
29,263
(industry tot.)
N.A.
Market
E-A
Market
A-P
Market
L.A.
Market
All
Market
7,518
7,357
6,541
2
816
7,590
7,389
6,840
1
550
5,346
5,392
5,331
1
60
5,346
5,309
5,048
2
261
25,800
25,449
23,760
N.A.
Market
E-A
Market
A-P
Market
L.A.
Market
All
Market
7,799
8,267
8,763
1,225
1,375
1,490
7,833
8,303
8,801
1,215
1,365
1,490
5,824
6,290
6,793
1,235
1,385
1,510
5,734
6,193
6,688
1,215
1,365
1,490
27,190
29,053
31,045
4,890
5,490
5,990
Footwear Production
(industry totals)
(industry totals)
Demand Forecast
(industry totals)
5,503
38,760
44,263
!
!
!
!
1,687
Notes
!
!
!
!
!
Notes
! From page 4 of FIR for Year 11
! Actual demand was -1.4% lower than
not meaningful
Notes
Notes
Global demand for Y11-Y15 is expecrted to
grow at a rate of 7%-9% annually, slowing
to about 5%-7% annual growth during Y16Y20. The projected growth rates are not the
same for all four regions, as indicated in the
table on page 4 of the Player's Guide. Actual
demand growth may vary from the forecast
due to increases/decreases in competitive
intensity industry-wide.
27,190
4,890
32,080
2,000
2,000
1,800
2,000
2,000
9,800
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0 4,000
0 4,000
0 4,000
0 4,000
0 4,000
0 20,000
2,000
0
0
1,000
0
3,000
0
0
0
0
0
0
0
0
0
0
0
0
2,000
2,000
1,800
1,300
2,200
9,300
0 4,000
0 4,000
0 4,000
0 4,000
0 4,000
0 20,000
2,000 8,000
0 6,000
0 5,800
1,000 6,300
0 6,200
3,000 32,300
New Construction
Initiated
in Y12
0
0
0
0
0
0
A
B
C
D
E
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INDUSTRY 20
YEAR 12
Interest
Exp (Inc)
Income
Taxes
Total
Dividend
Payment
Net
Profit
($000s)
235,967
125,028
73,470
155,147
150,253
21,730
18,591
11,086
17,805
18,854
58,675
36,163
23,623
46,430
50,933
10,160
8,961
8,761
9,410
8,660
121,835
53,668
40,713
85,209
64,814
17,513
5,871
6,310
9,418
6,492
30,566
14,178
10,321
22,737
17,497
71,319
33,082
24,082
53,054
40,825
11,000
978
0
500
1,500
10,000
9,775
10,000
10,000
10,000
291,189
147,973
17,613
43,165
9,190
73,248
9,121
19,060
44,472
2,796
9,955
Shareholder Equity
Current Long-Term Beginning Stock Sales Earnings
Equity (purchases) Retained
Liabilities
Debt
Year 12
No. of
Dividend Changes
Ending
Equity
Cash
on Hand
Current
Assets
Total
Assets
41,159
40,192
0
15,485
32,787
161,732
110,642
153,570
100,371
111,192
500,582
288,142
320,924
352,630
310,419
58,188
28,268
50,558
35,566
29,724
207,800
50,800
50,800
82,800
50,800
174,277
190,044
195,483
181,711
190,569
0
-13,073
0
0
0
60,317
32,103
24,083
52,553
39,326
234,594
209,074
219,566
234,264
229,895
1.10
0.10
0.00
0.05
0.15
2/0
1/1
0/1
1/1
1/1
25,925
127,502
354,540
40,461
88,600
186,417
-2,615
41,677
225,479
0.28
1.0 / 0.8
($ / share)
(+/)
A
B
C
D
E
Current
Ratio
Days of
Inventory
Interest Debt to
Coverage Assets
Ratio
Ratio
Default
Risk
Ratio
Default
Risk
52.6%
51.6%
46.6%
49.4%
51.2%
4.8%
7.7%
7.0%
5.7%
6.4%
13.1%
14.9%
15.0%
14.8%
17.4%
2.3%
3.7%
5.6%
3.0%
3.0%
27.2%
22.1%
25.8%
27.1%
22.1%
15.9%
13.6%
15.3%
16.9%
13.9%
2.78
3.91
3.04
2.82
3.74
16
40
724
18
14
6.96
9.14
6.45
9.05
9.98
0.49
0.23
0.27
0.29
0.22
2.26
2.75
0.99
3.28
3.27
Medium
Medium
High
Low
Low
50.8%
6.0%
14.8%
3.2%
25.2%
15.3%
3.15
162
8.32
0.30
2.51
Medium
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A
B
C
D
E
Dividend Data
A
B
C
D
E
(000s of shares
outstanding)
448,367
242,411
157,653
314,001
293,514
A
B
C
D
E
Shares
of Stock
A
B
C
D
E
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INDUSTRY 20
Year 11
Low
Average
High
Co. D
YEAR 12
Year 12
Low
Average
High
Co. D
9.28
8.46
9.83
8.74
10.64
9.27
9.35
0.00
9.03
7.70
9.95
8.42
10.77
9.10
10.74
8.49
15,832
3,657
4.64
0
0
0.00
19,433
3,989
5.16
0
0
0.00
20,873
4,159
5.55
0
0
0.00
20,129
4,138
5.05
0
0
0.00
15,539
3,596
4.98
0
0
0.00
19,171
3,940
5.23
0
0
0.00
20,419
4,120
5.36
0
0
0.00
19,963
3,944
5.35
0
0
0.00
3,265
2,393
1.47
4,160
2,525
1.75
5,913
2,595
2.39
3,798
2,586
1.56
3,024
2,197
1.50
4,252
2,441
1.81
6,498
2,570
2.52
3,757
2,439
1.66
0
0
0.00
0
0
0.00
0
0
0.00
0
0
0.00
4,250
2,540
1.79
4,252
2,543
1.79
4,253
2,546
1.79
4,250
2,546
1.79
0.17
0.33
0.77
0.63
1.60
1.05
0.50
0.50
0.27
0.31
0.71
0.68
1.43
1.28
0.60
0.56
4.8%
3.8%
5.8%
5.1%
7.2%
6.1%
4.9%
0.0%
4.1%
3.7%
6.1%
5.3%
7.8%
7.5%
6.8%
5.4%
21.28
0.00
18.14
0.00
24.92
0.00
20.21
0.00
27.31
0.00
23.72
0.00
23.09
0.00
18.50
0.00
22.98
0.00
19.31
24.63
29.76
0.00
21.18
25.16
36.28
0.00
22.51
25.68
36.28
0.00
21.54
25.68
Private-Label N.A.
E-A
A-P
L.A.
23.15
0.00
18.28
0.00
24.25
0.00
19.15
0.00
25.11
0.00
20.21
0.00
0.00
0.00
0.00
0.00
20.38
0.00
17.63
0.00
25.10
0.00
20.20
0.00
29.80
0.00
21.67
0.00
27.38
0.00
20.85
0.00
Year 11
Low
Average
High
Co. D
Operating Benchmarks
Branded Cost of Pairs Sold N.A.
Market
($ per pair sold. Includes manuE-A
Segments
facturing, shipping, import
A-P
taris, and exchange rate
adjustments.)
L.A.
Year 12
Low
Average
High
Co. D
22.40
24.20
19.19
23.44
25.12
26.41
21.37
27.38
28.29
29.67
24.67
30.71
24.13
24.53
19.53
26.05
23.96
26.62
20.13
21.03
28.41
28.78
22.13
25.09
32.70
30.33
23.53
27.59
30.44
29.24
22.51
27.59
10.79
2.70
11.00
2.93
11.29
3.23
10.87
2.81
10.60
2.40
11.19
3.09
12.50
4.44
10.79
2.72
10.65
4.58
14.21
6.99
17.89
8.40
11.42
8.40
9.65
8.06
18.53
8.78
37.17
9.92
15.30
8.53
1.61
1.89
2.26
1.69
1.48
2.22
4.06
1.84
15.78
15.28
21.33
15.04
17.84
16.81
22.44
16.12
21.61
20.30
24.88
19.03
15.78
16.76
22.17
15.79
2.32
3.21
16.78
20.83
9.60
11.08
24.32
26.21
14.10
17.05
30.45
34.21
9.28
12.83
24.36
24.73
Wholesale N.A.
E-A
A-P
L.A.
10.92
9.64
9.38
4.53
13.95
13.02
12.60
7.79
18.31
19.84
19.11
15.30
13.40
10.61
10.51
5.95
9.05
6.37
13.08
13.05
12.50
12.94
17.42
18.83
16.94
18.19
24.36
27.68
15.84
15.32
17.20
18.04
22.37
24.28
19.28
25.15
24.01
25.15
20.15
26.52
25.50
26.21
21.21
27.29
0.00
0.00
0.00
0.00
23.82
26.83
18.63
18.85
26.81
28.55
18.63
18.85
28.38
29.43
18.63
18.85
28.38
28.55
0.00
0.00
1.00
1.07
1.20
0.00
1.00
1.04
1.20
1.00
4.49
4.78
5.78
4.70
7.25
6.76
8.61
5.91
9.62
7.98
11.52
6.65
0.00
0.00
0.00
0.00
1.62
-2.51
4.53
6.09
3.78
1.52
4.53
6.09
5.96
4.35
4.53
6.09
1.62
0.06
0.00
0.00
Administrative Expenses
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($/pair sold)
Page 13 of 16
11/9/15, 11:46 AM
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Page 6
Page 14 of 16
11/9/15, 11:46 AM
INDUSTRY 20
YEAR 12
Celebrity Endorsements
Celebrity
Payton Manyon
Oprah Beyons
Cristiano Romano
Tiger Green
Jos Montaa
Mishell Wii
Ace Federar
Danica Sebastian
Yi Lin
Shakira Iglesias
Nick Shavan
Bronko Mars
Consumer Appeal
NA EA AP LA
Currently
Signed By
Contract
85 45 35 40
100 70 65 75
70 100 70 55
95 80 85 75
60 50 60 95
55 60 95 90
50 90 50 85
70 65 55 60
75 80 95 50
45 85 60 100
80 85 75 70
60 35 100 50
E Sole Train
E Sole Train
A The Road X
A The Road X
Cynergy
A The Road X
[unsigned]
[unsigned]
[unsigned]
[unsigned]
[unsigned]
[unsigned]
2,780
6,789
6,000
11,020
5,000
7,210
0
0
0
0
0
0
($000s/year)
Year Contract
Signed Length
Y11
Y11
Y11
Y12
Y12
Y12
N/A
N/A
N/A
N/A
N/A
N/A
2 years
3 years
5 years
2 years
3 years
4 years
1 years
3 years
4 years
2 years
3 years
4 years
4
4
5
5
4
5
0
0
0
0
0
0
2,780
6,789
6,000
11,020
5,000
7,210
0
0
0
0
0
0
2,600
5,100
5,789
6,810
3,090
6,000
0
0
0
0
0
0
2,468
4,835
4,305
6,077
3,100
4,955
0
0
0
0
0
0
1,895
3,327
1,000
4,000
1,450
2,500
0
0
0
0
0
0
Internet P
Wholesal
S/Q Rating
Internet P
Wholesal
S/Q Rating
$80
$70
$70
$60
$60
$50
$50
$40
$40
10
11
12
13
14
15
Year
16
ASIA-PACIFIC
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17
18
19
20
Sales Price
10
S/Q Rating
Sales Price
$80
EUROPE-AFRICA
10
11
12
13
14
15
Year
16
17
18
19
20
10
S/Q Rating
NORTH AMERICA
LATIN AMERICA
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11/9/15, 11:46 AM
Wholesal
S/Q Rating
$60
$50
about:blank
11
12
13
S/Q Rating
10
14
15
Year
16
17
18
19
20
Page 7
$70
$60
$50
$40
Sales Price
10
Wholesal
$70
$40
Internet P
$80
S/Q Rating
Sales Price
10
10
11
12
13
14
15
Year
16
17
18
19
20
S/Q Rating
Internet P
$80
Page 16 of 16