Download miễn phí Financial analysis of Reebok



content
preface 2
Chapter 1 : introduction of footwear industry and reebok international ltd 3
I. Characteristics of the footwear industry 3
1. Overview 3
2. Characteristics of footwear industry and its products 3
3. Customers 4
4. Suppliers 4
5. Competitors 4
II. introduction of Reebok 6
1. History of the company 6
2. Brandnames 6
III. Strategies 7
IV. SWOT analysis 8
1. Strengths 8
2. Weaknesses 8
3. Opportunities 9
4. Threats 9
Chapter 2 : Finance reports and stock analysis 10
I. Finance reports 10
1. Balance sheet 10
2. Income statement 12
3. Cashflow statement 13
II. Stock analysis of 3 latest years 13
1. Stock price of Reebok 13
2. Earnings per share(EPS) 14
Chapter 3 : consultancy .18
 
 


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th every demand of the customers.
Targeted customers of companies in this industry are women who use walking shoes and also males between the ages of 16 and 25, and a children's line targeted to boys and girls between the ages of 5 and 12.
Besides those customers companies which operate in the footwear industry are designed to meet the demands of specific consumer types: image and fashion conscious athletes, sports and fitness enthusiasts, and casual athletic shoe buyers. Students have also been a key purchasing group because they are at the age forming their opinions about things. In general, a significant portion of the spending will be done by people age 18 to 37.
As a whole, footwear industry is a field which can serves all kinds of people. It makes the producers have a full range of customers and must have their own division of market segment. The potential customers of this industry are people between the age of 5-37 including children, women, men and professional athletes with many different tastes. However, the bargainning power of the customers is medium to low.It is because the purchase of the customers is not concenrated in large volumes and products have difference thanks to the difference among different brand name.
Suppliers
In this kind of industry, producers need many sources to produce their products, including material, machines, technique and services such as online marketing service, permisson-based mail marketing service....This input is dominated by relative few companies. Therefore, the bargaining power of suppliers is medium to high since the product is unique and the switching costs are high. Futhermore, it is possible for producers (especially in foreign manufacturing) to intergrate forwards into the industry’ s business (in overseas market ) and become an opponent to companies in the footwear industry.
Competitors
Competition in this industry is quite strong, mainly among the “large five” Nike, Reebok, Converse, LA Gear,Striderite and also among some branches like Polo, Timberland, Adidas ...Each company has its own strategy and customers but there is always a dispute among them. However, now, the most serious threat of competition is NAFTA (North America free trade area). This area allows all competitors compete equally and freely and it leads companies to reduce their labor and manufacturing costs to maintain company’s profitabilitty.
Competitors in the footwear field include a number of sports and fitness footwear and apparel companies, such as Nike, Adidas, Fila, New Balance and Skechers. Apparel competitors include numerous brands such as Nike, Adidas, Rocawear, Ecko, Brand Jordan, FUBU, Mecca and ENYCE. Competition among men's casual sportswear, golf apparel and footwear makers includes Timberland, Clarks, Ecco, Mephisto, Bass, Bostonian, Merrell, Easy Spirit, Nine West and Gabor Cole Haan, Tommy Hilfiger, Prada and Gucci.
Reebok and Nike are the principal players in the industry. Although Nike has also experienced some rough times, revenue fell 8% in fiscal 1999...but it has now moved back into a position where its gross margins are stronger than its competitors. Nike’s products also includes athletic footwear, apparel, swimsuit, leather goods and it is estimated that Nike capture 45% market share in the industry while Reebok ‘s part is 15%-18% of the pie only. All in all, Nike has more power to the market than others because they have righter strategy, faster long-term growth, stronger industry position, greater international exposure and better brand name management.
Besides Nike, there are many current competitors which can be threat of any producer in this industry. We can mention to Timberland or Polo as examples.The Timberland Company headquartered in Stratham, New Hampshire, designs, engineers, markets and distributes premium quality footwear, apparel and accessories for men, women and children. Timberlandđ products are sold in the United States and internationally through independent retailers, better-grade department stores and athletic stores, in addition to the Company’s own retail locations.The most important product of Timberland is Timberland Footwear. Timberland has enjoyed significant expansion of its brand presence both domestically and abroad Timberland’s markets include Europe, United States, Asia and Asia- Pacific regions. Total market capture of Timberland up to Oct,2002 is 1.1B $.
Polo Ralph Lauren Corp is a leader in the design marketing and distribution of premium lilfestyle product in 4 categories : apparel(which includes extensive collections for men’s, women’s, childen’s clothing), home (which offers coordinated products for the home, interior decor..), accessories ( which includes a broad range of products such as eyewear, jewelry, leather goods..) and frangrance(which includes skincare products). It constitutes one of the world’s most widely recognised families of consumer brands. Its main markets are United States, Europe and Asia. In fiscal 2002, the company estimates to have 1,1 B$ of wholesale which includes 6,3% wholesale net sales comes from chirlren wear; 41,8% comes from menswear; 8,6% comes from home; 8,7% come from fragrances; 9,4% comes from accessaries and 25,4% comes from womenswear.
As we said above this kind of market is dominated by “the big five” so it is difficult to penetrate the market and cope directly with these Bigs (Not to mention the high capital requirements due to advertising, research and development). Furthermore, the relationship between dealers and distributers is tied up by internal relationship between distributors and producers. So it is really a challengence to anybody who wants to join this field. In conclusion, the threat of new entrants into the industry is low so in this industry there are not many potential competitors.
introduction of Reebok
History of the company
In the 1890s, Joseph William Foster - a famous English runner - made some of the first running shoes with spike in them and then Reebok’s United Kingdom-based ancestor company was founded. By 1895, Foster was in business making shoe by hand for top runners and with his sons, they developed an international clientele of distinguished athletic.
In 1979, Paul Fireman, a partner in an outdoor sporting goods distributorship, spotted Reebok shoes at an international trade show. He negotiated for the North America distribution license and then introduced three running shoes in the US market as foundation of Reebok USA, Ltd. At that period, its original strategy was aimed at prestige and at high price. At $60, they were the most expensive running shoes in the market.
In 1981, PLC a British wholesaler of footwear acquired 56%of the common stock in exchange for $77.500 in cash. Fireman and PLC agreed that neither party would sell its stock to third party.
In 1985, Reebok USA purchase Reebok Britain to form a single company up to now. Since then, Reebok had many explosive steps to become a multinational firm. Its structure includes 4 groups: Reebok international, USA; Rockport company; Ralph Lauren Footwear and Greg Norman Collection. Products of Reebok are now available in over 140 countries including 3 main markets North America, Europe and Asia among them European market is the largest one with many subsidiaries ranging from Italy, Austria, German to Russia.
Brandnames
Reebok is now a global company engaged in the design and market of sport and fitness products, including footwear, apparel and accessories as well as the design and marketing of footwear and apparel for non-athletic, “casual” use.
* The Reebok brand
The Reebok brand designs, produces and markets sports, fitness and casual footwear, appareel and accessories that combine characteristiics of sport and style. Products of company also include footwear and apparel for children sold under the Reebok and Weebok brands. Nowadays, The way reebok chooses to expand is implementing strategic licensing program in which its technologies and/or trademark are licensed to third paties.
*Rockport company.
Rockport focuses on specially engineered comfort footwear for both men and women. Its product line includes performance, casual and dress shoes. In 2001, Rockport concentrated on strengthening its men’product by introduction of some new collections. Besides, it continues to use proprietary technology to enhance women’s walking product and siged a license agreement for the development of children’s footwear.
*The Greg Norman Collection.
Originally a golf product line, the Greg Norman Collection has grown its line of men’s sportswear to include products ranging from leather jackets and sweaters to activewear and swimwear. In addition, it offers belts, small leather goods and hosiery product. In 2001, the Greg Norman Collection introduced men’s golf apparel marketed under Reebok name, continuing to offer a line of moisture management golf shirts under the trademark PLAYDRY.
*The Ralph Lauren Footwe...

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