BSG Decisions & Reports

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FF Footw ootw ootwear ear ear
Industry Industry Industry
RR Report eport eport
FIR
22-Nov-2022 22-Nov-2022 22-Nov-2022
Industry 45 Industry 45 Industry 45
BST BST BST.91 – Saud T .91 – Saud T .91 – Saud Taj – aj – aj –
(2209) (2209) (2209)
YY Year 14 ear 14 ear 14
© GLO-BUS Software, Inc.
Year 14 Scoreboard
Rank Company Name
Investor
Expectation
Score
Best-InIndustry
Score
Weighted
Average
Score
Change
from Y13
1 F Gravity Footwear 118 94 106 +11
1 HOT SHOEROOM 117 94 106 -1
3 I Running and shinni 117 89 103 -3
4 B Diverse Footware 115 75 95 +4
4 C Shoesio 116 74 95 +1
6 D Sport Class 114 69 92 -7
7 G HAPPY FEET LTD 113 68 91 -5
8 A Ludo 108 66 87 +25
9 E POROS 79 47 63 +1
10 J Company 12 9 11 -1
10 K Company 12 9 11 -1
10 L Company 12 9 11 -1
Game-To-Date Scoreboard
Rank Company Name
Investor
Expectation
Score
Best-InIndustry
Score
Weighted
Average
Score
Bonus
Points
Overall
G-T-D
Score
1 HOT SHOEROOM 119 100 110 1 111
2 I Running and shinni 115 86 101 3 104
3 F Gravity Footwear 116 87 102 1 103
4 B Diverse Footware 116 80 98 0 98
5 D Sport Class 114 74 94 2 96
6 C Shoesio 112 71 92 0 92
6 G HAPPY FEET LTD 113 71 92 0 92
8 A Ludo 102 61 82 2 84
9 E POROS 75 49 62 0 62
10 J Company 18 13 16 0 16
10 K Company 18 13 16 0 16
10 L Company 18 13 16 0 16
Investor
Expectation
Score (I.E.)
Investors and company boards of directors have established targets for the five
scoring measures that appear on pages 2 and 3 of this report. The I.E. score
ranges from 0 to 120 (if all targets are exceeded by 40% or more). Click the
Help button (upper-right) for more information.
Best-InIndustry
Score (B-I-I)
The B-I-I score measures each company’s performance relative to the best
performing company on each of the five scoring measure. The B-I-I score
ranges from 0 to 100. To score 100 a company must be the best performing
company in the industry on all five scoring measures.
Weighted
Average
Score
The weighted average score combines the Investor Expectation Score and the
Best-In-Industry Score using a 50%-50% weighting as specified by the course
instructor. Detailed explanations of scoring are provided in the Help documents
asociated with pages 1, 2, and 3 of this report.
Page 1
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Industry 45 Sඋ඗කඑඖඏ Mඍඉඛඝකඍඛ Year 14
Earnings Per Share
($ per share)
Earnings Per Share scores are based on a 20% (20-point) weighting. A bolded number indicates achievement of
the investor expected EPS shown below each yearly column head. A highlighted number indicates best-in-industry
performance. Game-To-Date EPS scores are based on a weighted average of the annual EPS performances.
Y11
(2.50)
Y12
(3.00)
Y13
(3.50)
Y14
(4.00)
Y15
(4.50)
Y16
(5.25)
Y17
(6.00)
Y18
(7.00)
Y19
(8.50)
Y20
(10.00)
Wgt. Avg.
(3.25) I.E. B-I-I
Y14 Score
I.E. B-I-I
G-T-D Score
A 2.54 3.43 2.92 6.21 3.75 24 11 22 9 A
B 3.72 5.84 5.51 7.17 5.56 24 13 24 14 B
C 2.01 3.45 5.04 6.64 4.24 24 12 23 10 C
D 3.07 4.28 5.79 5.79 4.72 24 10 24 11 D
E 1.99 1.54 2.59 3.40 2.38 17 6 15 6 E
F 2.86 3.37 4.88 9.62 5.13 24 17 24 12 F
G 2.24 3.76 5.72 5.50 4.31 24 10 23 10 G
H 4.77 8.30 8.48 11.35 8.23 24 20 24 20 H
I 1.85 4.26 7.87 9.85 5.94 24 17 24 14 I
J 1.48 0.82 -0.06 -0.79 0.36 0 0 2 1 J
K 1.48 0.83 -0.07 -0.79 0.36 0 0 2 1 K
L 1.48 0.82 -0.07 -0.79 0.36 0 0 2 1 L
Return On Equity
(%)
Return On Equity scores are based on a 20% (20-point) weighting. A bolded number indicates achievement of the
investor expected ROE shown below each yearly column head. A highlighted number indicates best-in-industry
performance. Game-To-Date ROE scores are based on a weighted average of the annual ROE performances.
Y11
(21.0)
Y12
(22.0)
Y13
(23.0)
Y14
(24.0)
Y15
(25.0)
Y16
(26.0)
Y17
(27.0)
Y18
(28.0)
Y19
(29.0)
Y20
(30.0)
Wgt. Avg.
(23.0) I.E. B-I-I
Y14 Score
I.E. B-I-I
G-T-D Score
A 21.5 23.3 16.7 28.4 22.9 22 14 20 14 A
B 30.2 34.8 24.8 25.2 27.9 21 13 22 17 B
C 17.1 21.4 25.8 27.7 23.9 22 14 20 14 C
D 25.5 27.5 29.4 23.8 26.4 20 12 21 16 D
E 17.8 11.7 17.1 18.7 16.5 16 9 14 10 E
F 24.1 22.6 26.3 39.5 29.6 24 20 23 18 F
G 20.2 28.0 32.0 25.4 26.9 21 13 22 16 G
H 37.0 42.7 30.4 30.0 33.6 23 15 24 20 H
I 15.8 26.2 35.6 33.0 29.7 24 17 23 18 I
J 13.7 7.2 -0.5 -7.0 3.2 0 0 3 2 J
K 13.7 7.3 -0.6 -6.9 3.2 0 0 3 2 K
L 13.7 7.2 -0.6 -7.0 3.2 0 0 3 2 L
Stock Price
($ per share)
Stock Price scores are based on a 20% (20-point) weighting. A bolded number indicates achievement of the
investor expected stock price shown below each yearly column head. A highlighted number indicates best-inindustry performance. Game-To-Date scores are based solely on the most recent year’s stock price.
Y11
(40.00)
Y12
(50.00)
Y13
(65.00)
Y14
(80.00)
Y15
(100.00)
Y16
(125.00)
Y17
(150.00)
Y18
(180.00)
Y19
(215.00)
Y20
(250.00) I.E. B-I-I
Y14 Score
I.E. B-I-I
G-T-D Score

A
32.48
63.67
29.54 121.90

B
89.99 137.28 104.73 158.17

C
D
17.24
53.70
24.32
51.94
24.76
52.44 116.39 142.85
94.71 133.51 119.17

E
10.23
26.48
43.54

F
G
66.50 102.68 255.11
69.94 123.72 110.11

H 130.40 239.58 225.60 291.41

I
12.33
11.94
12.24
11.77
86.16 206.67 253.19

J
K
L
5.53
6.46
5.64
5.21
5.21
5.21
5.16
5.16
5.16

24 8 24 8 A
24 11 24 11 B
24 10 24 10 C
24 8 24 8 D
11 3 11 3 E
24 18 24 18 F
24 8 24 8 G
24 20 24 20 H
24 17 24 17 I
1 0 1 0 J
1 0 1 0 K
1 0 1 0 L
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Industry 45 Sඋ඗කඑඖඏ Mඍඉඛඝකඍඛ Year 14
(concluded)
Credit Rating
Credit Rating scores are based on a 20% (20-point) weighting. A bolded credit rating indicates achievement of the
investor expected credit rating shown below each yearly column head. Game-To-Date credit rating scores are
based solely on the most recent year’s credit rating performance.
Y11
(B+)
Y12
(B+)
Y13
(B+)
Y14
(A–)
Y15
(A–)
Y16
(A–)
Y17
(A)
Y18
(A)
Y19
(A)
Y20
(A) I.E. B-I-I
Y14 Score
I.E. B-I-I
G-T-D Score
A A A B B 15 14 15 14 A
B A B+ A– A+ 24 20 24 20 B
C A– A+ A+ A+ 24 20 24 20 C
D A A A A 22 19 22 19 D
E B+ B– B B 15 14 15 14 E
F A A A– A 22 19 22 19 F
G A– B B+ A 22 19 22 19 G
H A A A+ A+ 24 20 24 20 H
I A– B+ A A 22 19 22 19 I
J B B– C– C– 0 1 0 1 J
K B B– C– C– 0 1 0 1 K
L B B– C– C– 0 1 0 1 L
Image Rating
Image Rating scores are based on a 20% (20-point) weighting. A bolded number indicates achievement of the
investor expected image rating shown below each yearly column head. A highlighted number indicates best-inindustry performance. Game-To-Date scores are based on an average of the most recent three years.
Y11
(70)
Y12
(72)
Y13
(72)
Y14
(75)
Y15
(75)
Y16
(77)
Y17
(77)
Y18
(80)
Y19
(80)
Y20
(80)

Y12-Y14
Average
I.E. B-I-I
Y14 Score

I.E. B-I-I
G-T-D Score
A 65 70 72 95 79 23 19 21 16 A
B 84 83 82 91 85 22 18 22 18 B
C 70 73 83 90 82 22 18 21 17 C
D 80 88 95 100 94 24 20 23 20 D
E 75 71 79 76 75 20 15 20 16 E
F 86 81 100 100 94 24 20 23 20 F
G 67 82 91 92 88 22 18 22 18 G
H 96 100 95 93 96 22 19 23 20 H
I 67 81 88 94 88 23 19 22 18 I
J 60 51 43 41 45 11 8 12 9 J
K 60 51 43 41 45 11 8 12 9 K
L 60 51 43 41 45 11 8 12 9 L
High Average Low
Total Dollars ($000s)
High Average Low
Per Unit Sold ($/unit)
Industry 45 Cash Outlays for Corporate
Social Responsibility and Citizenship
High Average Low
Image Rating Points
Generated from
CSRC Expenditures
Year 11 19,578 10,117 0 2.19 1.13 0.00 5 3 0
Year 12

16,096
6,185

22,060
8,021

26,450
9,649

0 1.39 0.57 0.00 8 4 0
Year 13 0 1.73 0.63 0.00 12 6 0
Year 14 0 1.85 0.67 0.00 15 7 0
Year 15
Year 16
Year 17
Year 18
Year 19
Year 20
Corporate Social Responsibility and Citizenship
Beginning in Year 14, the World Council for Exemplary
Corporate Citizenship presents a distinguished award
to the company making the highest cash outlays as a
percentage of revenues for corporate social responsibility and citizenship initiatives.

Award Winner
Y14 A Ludo
2nd Place
B Diverse Footware

Y15
Y16
Y17
Y18
Y19
Y20
Corporate Responsibility Award
for Exemplary Corporate Citizenship
Footwear Industry Report Copyright © GLO-BUS Software, Inc. Page 3
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Industry 45 B඗ඖඝඛ P඗එඖග Aඟඉකඌඛ Year 14
BULL’S EYE AWARD
for Accurately Forecasting Total Revenues,
Earnings Per Share, and Image Rating
One bonus point added to any company’s game-to-date score when actual
performance on Total Revenues AND Earnings Per Share vary by no more
than 5% from projected performance AND when Image Rating varies by no
more than 4 points from the projected image rating.
Year 14
Forecast
Year 14
Actual
Percent
Variance
Revenues (within ± 5%)
Year 14
Forecast
Year 14
Actual
Percent
Variance
EPS (within ± 5% or ± 10¢)

Year 14
Year 14
Point

Forecast
Actual
Variance

Image Rating (within ± 4 points)
Year 14
Bull’s Eye
Award

Cumulative
Awards
A 1,001,851 987,291

-1.5 %
-7.9 %
+5.2 %
+0.4 %
-12.6 %
+10.8 %
-14.4 %
-20.6 %
-3.0 %
0.0 %
6.42
8.55
6.54
5.92
4.66
8.09
8.00
18.53
10.61
0.00
6.21
7.17
6.64
5.79
3.40
9.62
5.50
11.35
9.85
-0.79
-3.3 %
-16.1 %
+1.5 %
-2.2 %
-27.1 %
+19.0 %
-31.2 %
-38.8 %
-7.1 %
0.0 %
98
95
89
100
84
100
100
100
97
0
95
91
90
100
76
100
92
93
94
41
-3 pts.
-4 pts.
+1 pts.
0 pts.
-8 pts.
0 pts.
-8 pts.
-7 pts.
-3 pts.
0 pts.

Yes 1 A
B 1,006,825 927,774 No 0 B
C 875,421 920,784 No 0 C
D 1,119,565 1,124,482 Yes 2 D
E 787,180 688,217 No 0 E
F 947,866 1,049,780 No 1 F
G 1,008,905 863,800 No 0 G
H 1,396,659 1,109,330 No 1 H
I 1,200,737 1,165,040 No 1 I
J 0 252,657 No 0 J
K 0 252,657 0.0 % 0.00 -0.79 0.0 % 0 41 0 pts. No 0 K
L 0 252,657 0.0 % 0.00 -0.79 0.0 % 0 41 0 pts. No 0 L
Trends in Variances Between Projected and Actual Performance
(company and industry variances between projected and actual revenues, EPS, and image rating)
Industry 45
Variance
Largest
Average
Smallest
Company H Variance
Year 11
+9.4 %
-11.3 %
-37.6 %
0.0 %
Year 12
+5.2 %
-6.0 %
-25.1 %
+1.0 %
Year 13
+15.4 %
-3.2 %
-18.8 %
-8.3 %
Year 14
+10.3 %
-5.1 %
-23.0 %
-22.1 %
Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

Y11
Y12
Y13
Y14
Y15
Y16
Y17
Y18
Y19
Y20

Score Δ
Score Δ
Score Δ
Score Δ
Score Δ
Score Δ
Score Δ
Score Δ
Score Δ
Score

80
+2
82 -20
62 +25
87

Current-Year Scores and Net Changes Cumulative
Awards
A 1 A
B 100 -6 94 -3 91 +4 95 0 B
C 68 +13 81 +13 94 +1 95 0 C
D 91 +1 92 +7 99 -7 92 0 D
E 70 -24 46 +16 62 +1 63 0 E
F 90 -6 84 +11 95 +11 106 0 F
G 73 +10 83 +13 96 -5 91 0 G
H 109 0 109 -2 107 -1 106 0 H
I 64 +22 86 +20 106 -3 103 2 I
J 53 -20 33 -21 12 -1 11 0 J
K 53 -18 35 -23 12 -1 11 0 K
L 53 -20 33 -21 12 -1 11 0 L
Δ = net change in score between years Highlighted figure = Leap Frog Award winner
Footwear Industry Report Copyright © GLO-BUS Software, Inc. Page 3b

for Most Improved Overall Score
(current year to current year)
LEAP FROG AWARD
Beginning in Year 12, one bonus point is added to the game-to-date overall
score of the company whose current-year overall score is most improved
over the prior year. If all companies fail to improve their scores from one
year to the next, then no Leap Frog bonus is awarded.

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Industry 45 Iඖඌඝඛගකඡ Oඞඍකඞඑඍඟ Year 14
Materials Prices
Price
Adjustments
Materials Usage
Facilities Utilization
Base Prices of Materials ($ per pair)
Materials Prices in Year 14 ($ per pair)
$6.00
-0.25
+0.13
$5.88
Standard
$12.00
+1.94
+0.26
$14.20
Superior
High industry-wide superior materials usage (48.1%) lead to superior materials
prices that were 16.2% above the base and standard materials prices that were
4.1% below the base. Industry-wide utilization of production capability was above
110% and resulted in materials price increases of 2.2%.
Notes
Footwear Production and Sales
Branded
Demand
(000s of pairs)
Forecast
Actual
Stockouts No. of Companies
Unfilled Orders (000s)
Pairs Available (000s)
Pairs Sold (internet + wholesale)
Private
Label
Demand Forecast (000s of pairs)
Pairs Offered (000s)
Pairs Sold (000s)
Superior Materials Usage
Utilization of Production Capability
North
America
46%
110.4%
53,992
37,389
37,776
37,774
22
3,636
5,339
3,636
Europe
Africa
54%
119.2%
45,047
31,588
32,004
32,004
10
3,636
4,695
3,636
Asia
Pacific
49%
111.4%
38,368
27,326
27,804
27,805
00
3,900
5,316
3,900
Latin
America
50%
116.9%
35,720
27,419
27,540
27,539
10
3,900
5,333
3,899
Average
or Total
48%
112.2%
173,127
123,722
125,124
125,122
2
15,072
20,683
15,071
⇦ % usage up 2.7 points from Year 13.
⇦ % usage down 1.9 points from Year 13.
⇦ 38.4% higher than Year 14 demand.
⇦ From page 4 of FIR for Year 13.
⇦ Actual branded demand was 1.1% higher
than forecast branded demand due to
increased competitive intensity.
⇦
Extent to which orders for branded pairs
went unfilled due to inventory shortages at
one or more companies.
⇦ From page 4 of FIR for Year 13.
⇦ Private-label pairs offered was higher than
actual private-label demand by 27.1%.
Notes
Demand Forecast
Branded Demand
(internet + wholesale)
Year 15
Year 16
Year 17
Private-Label Demand Year 15
Year 16
Year 17
North
America
39,803
41,398
43,057
4,032
4,392
4,788
Europe
Africa
33,618
34,961
36,355
4,032
4,392
4,788
Asia
Pacific
30,338
32,761
35,384
4,404
4,884
5,424
Latin
America
30,063
32,463
35,063
4,404
4,884
5,424
Global
Total
133,822
141,583
149,859
16,872
18,552
20,424
Global demand for Y11-Y15 is expected to grow
by 7%-9% annually, slowing to 5%-7% during
Y16-Y20. The projected growth rates are not
the same for all regions, as shown in the table
on page 5 of the Player’s Guide. Actual demand
growth may vary from the forecast due to
stronger or weaker competitive efforts on the
part of rival companies.
Notes
Supply / Demand Analysis
Beginning Year 15 Inventory
Potential Y15 Production (with OT)
Potential Global Supply
48,005
188,100
236,105
Potential Footwear Suppy in Year 15
Branded Demand Forecast
Private-Label Demand Forecast
Expected Global Demand
133,822
16,872
150,694
Expected Footwear Demand in Year 15
Potential global supply (at max OT) in the upcoming
year is 56.7% greater than projected global demand.
Such excess production capability will result in
FIERCE competition for the next several years.
Companies with underutilized production capability
are advised to sell unneeded production equipment.
Analysis
Facility Space Production Equipment

N.A.
5,000
E-A
A-P
6,000
L.A.
3,000
A
0

B
5,000
0
6,000
2,000

C
7,000
0
8,000
0

D
E
F
G
5,000
6,000
5,000
6,000
4,000
1,000
3,000
1,000
6,000
7,000
6,000
7,000
5,000
1,000
3,000
2,000

H
7,000
0
8,000
4,000

I
5,000
4,000
6,000
4,000

J
5,000
0
6,000
0

K
5,000
0
6,000
0

L
5,000
0
6,000
0

Year 14 Facility Space
(000s of pairs available for prod. equipmernt)
N.A. E-A A-P L.A.
Construction of New Space
(initiated in Y14 and available in Y15)
Total
Space
Available
in Y15

N.A.
E-A
A-P
L.A.
Total

5,000
5,000
0
0
6,000
6,000
3,000 14,000
2,000 13,000
A
B

7,000
0
8,000
0 15,000
C

4,000
4,000
3,500
3,250 14,750
D

6,000
0
6,000
0 12,000
E

5,000
3,000
5,000
3,000 16,000
2,000 15,000
3,000 16,500
4,000 16,500
F

6,000
6,250
0
0
7,000
7,250
G
H

5,000
3,500
4,000
I

4,000
0
4,000
0
8,000
J

4,000
0
4,000
0
8,000
K

4,000
0
4,000
0
8,000
L

Year 14 Production Equipment
(000s of pairs available for production)
0

0
0
4,000
18,000
A

2,000
1,000
2,000
18,000
B

0 1,000 0 1,000 0 17,000 C 0 0 0 0 20,000 D 0 0 0 0 15,000 E 1,000 0 0 0 18,000 F 0 0 0 2,000 18,000 G 0 4,000 0 0 23,000 H 0 0 0 0 19,000 I 0 0 0 0 11,000 J 0 0 0 0 11,000 K 0 0 0 0 11,000 L 66,000 13,000 78,000 24,000 2,000 6,000 2,000 8,000 199,000 61,250 10,500 64,750 20,250 156,750
Footwear Industry Report Copyright © GLO-BUS Software, Inc. Page 4
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Industry 45 Fඑඖඉඖඋඑඉඔ Pඍකඎ඗කඕඉඖඋඍ Sඝඕඕඉකඡ Year 14
Income Statement Data
($000s)

Internet Wholesale P-label
Net Sales Revenues
Total
Cost of
Pairs Sold

Warehouse
Expenses
Marketing
Expenses
Admin
Expenses
Operating
Profit
Interest
Exp (Inc)
Income
Taxes
Net
Profit
A 277,882 549,821 81,468 987,291 504,269 88,192 171,737 26,379 196,714 16,882 50,950 118,882 A
B 209,299 620,593 75,955 927,774 440,829 72,600 178,829 23,129 212,387 5,794 60,119 140,276 B
C 269,639 520,598 104,276 920,784 421,491 77,954 185,616 25,625 210,098 4,247 60,520 141,214 C
D 282,267 775,501 0 1,124,482 600,782 88,461 230,685 28,879 175,675 15,105 47,871 111,699 D
E 166,842 426,621 94,754 688,217 383,832 59,516 104,609 24,164 116,096 13,976 30,636 71,484 E
F 245,703 629,412 111,076 1,049,780 491,961 82,935 171,907 27,132 275,845 13,708 78,341 182,796 F
G 244,142 519,129 59,028 863,800 398,800 69,981 195,760 26,440 172,819 16,433 46,916 109,470 G
H 256,337 805,553 0 1,109,330 456,405 77,714 211,479 26,629 337,103 9,444 97,315 227,067 H
I 303,455 692,387 105,952 1,165,040 527,925 88,362 190,760 27,227 330,766 19,710 93,317 217,739 I
J 44,460 208,197 0 252,657 136,003 32,467 72,701 15,628 -4,142 11,752 0 -15,894 J
K 44,460 208,197 0 252,657 136,005 32,436 72,697 15,628 -4,109 11,662 0 -15,771 K
L 44,460 208,197 0 252,657 136,008 32,455 72,689 15,628 -4,123 11,717 0 -15,840 L
199,079 513,684 52,709 799,539 386,193 66,923 154,956 23,541 167,927 12,536 47,165 106,094
Selected Balance Sheet Data
($000s)

Cash
Current
Fixed
Total

On Hand
Assets
Assets
Assets

Assets

Current
Long-Term
Total

Liabilities
Loans
Liabilities

Liabilities

Beginning
StockSale
Earnings
Ending

Equity
(Purchase)
Retained
Equity

Shareholder Equity
A 103,701 313,304

498,024
811,328

435,601
674,015

473,137
734,571

475,499
746,894

343,794
591,472

489,383
765,383

479,659
719,886

568,460 1,014,661

548,558 1,137,401

168,670
465,041

168,670
464,233

168,670
464,631

401,510
715,793

75,204 264,600 339,804 364,706 -12,064 118,882 471,524 A
B 0 238,414 53,951 0 53,951 492,963 -13,175 140,276 620,064 B
C 20,368 261,434 118,934 39,600 158,534 443,328 0 132,709 576,037 C
D 11,414 271,395 77,715 151,600 229,315 419,300 -13,420 111,699 517,579 D
E 0 247,678 89,216 84,600 173,816 346,172 0 71,484 417,656 E
F 29,844 276,000 68,848 167,600 236,448 395,592 -49,453 182,796 528,935 F
G 15,270 240,227 67,105 175,600 242,705 384,637 -14,936 107,480 477,181 G
H 130,270 446,201 65,104 79,600 144,704 642,890 0 227,067 869,957 H
I 327,821 588,843 86,325 302,600 388,925 572,445 -41,708 217,739 748,476 I
J 0 296,371 206,748 39,600 246,348 234,587 0 -15,894 218,693 J
K 0 295,563 205,560 39,600 245,160 234,844 0 -15,771 219,073 K
L 0 295,961 206,276 39,600 245,876 234,595 0 -15,840 218,755 L
53,224 314,283 110,082 115,383 225,466 397,172 -12,063 105,219 490,328
Selected Financial Statistics
Gross
Profit
Margin
Operating
Profit
Margin
Net
Profit
Margin
Profitability Measures
Div. Per
Share
($/share)
Total Div.
Payment
($000s)
Payout
(percent of
net profit)
Dividend Data Credit Rating Measures

Interest
Debt to
Default
Risk
of

Coverage
Assets
Risk

Ratio
Ratio
Ratio
Default

Current
Ratio
Days of
Inventory
Shares
of Stock
Outstanding
(000sofshares)

A
B
C
D
E
F
G
H
I
J
K
L
48.9%
52.5%
54.2%
46.6%
44.2%
53.1%
53.8%
58.9%
54.7%
46.2%
46.2%
46.2%
51.7%
19.9%
22.9%
22.8%
15.6%
16.9%
26.3%
20.0%
30.4%
28.4%
-1.6%
-1.6%
-1.6%
21.0%
12.0%
15.1%
15.3%
9.9%
10.4%
17.4%
12.7%
20.5%
18.7%
-6.3%
-6.2%
-6.3%
13.3%

0.00 0 0.0% 11.65 0.42 2.44 Medium 4.17 51 days

19,150
A

19,575
B

21,263
C

19,300
D

21,000
E

19,000
F

19,900
G

20,000
H

22,100
I

20,000
J

20,000
K

20,000
L

20,107

0.00 0 0.0% 36.66 0.08 6.32 Low 4.42 63 days 0.40 8,505 6.0% 49.47 0.22 18.91 Low 2.20 107 days 0.00 0 0.0% 11.63 0.31 4.70 Low 3.49 44 days 0.00 0 0.0% 8.31 0.29 1.62 High 2.78 137 days 0.00 0 0.0% 20.12 0.31 6.41 Low 4.01 57 days 0.10 1,990 1.8% 10.52 0.34 5.56 Low 3.58 87 days 0.00 0 0.0% 35.69 0.14 8.84 Low 6.85 99 days 0.00 0 0.0% 16.78 0.34 6.52 Low 6.82 54 days 0.00 0 0.0% -0.35 0.53 0.03 High 1.43 654 days 0.00 0 0.0% -0.35 0.53 0.03 High 1.44 652 days 0.00 0 0.0% -0.35 0.53 0.03 High 1.43 653 days 0.04 875 0.7% 16.65 0.34 5.12 3.55 222 days Footwear Industry Report Copyright © GLO-BUS Software, Inc. Page 5
06/12/2022, 08:41 BSG Decisions & Reports
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Industry 45 Pඍකඎ඗කඕඉඖඋඍ Bඍඖඋඐඕඉකඓඛ Year 14
Production Benchmarks
North America
Low Average High
Industry 45 Company
H
Labor
Statistics
Total Regular Compensation ($ / worker / year)
Workforce Productivity (pairs / worker / year)
Production Labor Cost ($ per pair after rejects)
Supervisory Compensation ($ / supervisor / year)
Branded
Production TQM/6-Sigma Spending Current ($/pair produced)
Cumulative ($000s)
Superior Materials Usage
Total Production Cost ($ per pair produced)
Reject Rate
Percentage of New Production Equipment
Cost Per S/Q Star (total production cost per pair ÷ S/Q rating)
100%
35,280
4,708
7.26
61,818
32%
1.00
16,562
25.23
3.2%
3.76
100%
39,551
4,949
8.30
62,075
47%
2.80
61,564
29.35
5.5%
4.67
100%
47,145
5,176
9.61
63,054
72%
4.80
108,275
37.84
8.0%
6.31
100%
35,380
4,893
7.52
63,054
46%
4.00
108,275
30.05
3.2%
3.76
Europe-Africa
Low Average High
Industry 45 Company
H
Labor
Statistics
Total Regular Compensation ($ / worker / year)
Workforce Productivity (pairs / worker / year)
Production Labor Cost ($ per pair after rejects)
Supervisory Compensation ($ / supervisor / year)
Branded
Production TQM/6-Sigma Spending Current ($/pair produced)
Cumulative ($000s)
Superior Materials Usage
Total Production Cost ($ per pair produced)
Reject Rate
Percentage of New Production Equipment
Cost Per S/Q Star (total production cost per pair ÷ S/Q rating)
100%
21,228
3,978
5.74
37,462
50%
3.30
15,840
24.79
1.5%
2.92
100%
24,666
4,097
6.39
37,462
58%
4.03
15,840
30.94
4.9%
4.02
100%
30,307
4,165
7.61
37,462
72%
4.60
20,160
34.86
7.6%
4.74
0%
00
0.00
0
0%
0.00
0
0.00
0.0%
0.00
Asia-Pacific
Low Average High
Industry 45 Company
H
Labor
Statistics
Total Regular Compensation ($ / worker / year)
Workforce Productivity (pairs / worker / year)
Production Labor Cost ($ per pair after rejects)
Supervisory Compensation ($ / supervisor / year)
Branded
Production TQM/6-Sigma Spending Current ($/pair produced)
Cumulative ($000s)
Superior Materials Usage
Total Production Cost ($ per pair produced)
Reject Rate
Percentage of New Production Equipment
Cost Per S/Q Star (total production cost per pair ÷ S/Q rating)
0%
12,487
3,334
3.24
25,758
34%
0.90
15,696
20.43
3.6%
3.20
34%
15,078
3,609
4.34
26,083
53%
2.66
64,484
26.06
6.4%
4.27
100%
20,422
3,957
5.38
27,865
70%
4.40
128,455
35.39
10.0%
5.75
45%
12,487
3,615
3.67
26,273
40%
3.50
128,455
23.46
3.6%
3.35
Latin America
Low Average High
Industry 45 Company
H
Labor
Statistics
Total Regular Compensation ($ / worker / year)
Workforce Productivity (pairs / worker / year)
Production Labor Cost ($ per pair after rejects)
Supervisory Compensation ($ / supervisor / year)
Branded
Production TQM/6-Sigma Spending Current ($/pair produced)
Cumulative ($000s)
Superior Materials Usage
Total Production Cost ($ per pair produced)
Reject Rate
Percentage of New Production Equipment
Cost Per S/Q Star (total production cost per pair ÷ S/Q rating)
69%
12,487
3,742
3.23
26,016
40%
2.50
9,321
22.92
2.9%
2.80
96%
14,735
4,063
3.83
26,089
53%
3.50
20,790
27.07
4.7%
3.67
100%
20,470
4,226
5.04
26,273
68%
4.90
36,270
34.32
6.6%
4.34
100%
12,487
3,984
3.23
26,273
40%
3.50
28,000
26.87
5.3%
3.84
Note: To protect individual companies from having competitively sensitive data revealed to rival companies, only the industry averages are reported
for regions with 2 or 3 production facilities. Industry low and high numbers are reported only for regions with 4 or more production facilities. No
benchmark data is reported for regions with only 1 production facility.
Footwear Industry Report Copyright © GLO-BUS Software, Inc. Page 6
06/12/2022, 08:41 BSG Decisions & Reports
https://www.bsg-online.com/users/program/v3/fir/page1 8/9
Industry 45 Pඍකඎ඗කඕඉඖඋඍ Bඍඖඋඐඕඉකඓඛ Year 14
(concluded)
Branded Operating Benchmarks
North America
Low Average High
Industry 45 Company
H
Internet Segment Marketing Expenses ($ per pair sold)
Operating Profit ($ per pair sold)
Operating Profit Margin
Wholesale Segment Marketing Expenses ($ per pair sold)
Operating Profit ($ per pair sold)
Operating Profit Margin
Distribution and Warehouse Costs ($ per pair available for sale)
Cost of Branded Pairs Sold (production, freight, x-rate cost adjustment)
2.68
26.18
20.87
-16.95
-21.3%
8.25
1.36
2.8%
4.92
30.32
32.76
13.62
13.0%
11.48
9.53
15.5%
6.39
38.84
52.29
37.26
33.7%
13.66
18.52
27.2%
4.89
31.03
27.51
37.26
33.7%
13.23
18.52
27.2%
Europe-Africa
Low Average High
Industry 45 Company
H
Internet Segment Marketing Expenses ($ per pair sold)
Operating Profit ($ per pair sold)
Operating Profit Margin
Wholesale Segment Marketing Expenses ($ per pair sold)
Operating Profit ($ per pair sold)
Operating Profit Margin
Distribution and Warehouse Costs ($ per pair available for sale)
Cost of Branded Pairs Sold (production, freight, x-rate cost adjustment)
5.93
25.79
12.99
-15.82
-18.7%
8.32
-1.39
-2.6%
9.45
32.94
32.17
15.39
14.5%
11.84
9.50
14.5%
13.67
36.09
49.81
38.91
41.8%
14.05
20.46
30.7%
11.91
31.46
27.55
38.77
34.5%
12.57
20.46
29.2%
Asia-Pacific
Low Average High
Industry 45 Company
H
Internet Segment Marketing Expenses ($ per pair sold)
Operating Profit ($ per pair sold)
Operating Profit Margin
Wholesale Segment Marketing Expenses ($ per pair sold)
Operating Profit ($ per pair sold)
Operating Profit Margin
Distribution and Warehouse Costs ($ per pair available for sale)
Cost of Branded Pairs Sold (production, freight, x-rate cost adjustment)
3.66
21.43
14.54
-8.31
-10.5%
7.84
4.23
8.8%
5.32
27.32
32.12
16.62
16.7%
11.51
11.56
19.5%
7.34
36.50
46.36
38.99
36.6%
14.22
23.26
35.2%
6.00
25.55
27.18
38.99
36.6%
11.48
23.26
35.2%
Latin America
Low Average High
Industry 45 Company
H
Internet Segment Marketing Expenses ($ per pair sold)
Operating Profit ($ per pair sold)
Operating Profit Margin
Wholesale Segment Marketing Expenses ($ per pair sold)
Operating Profit ($ per pair sold)
Operating Profit Margin
Distribution and Warehouse Costs ($ per pair available for sale)
Cost of Branded Pairs Sold (production, freight, x-rate cost adjustment)
6.04
23.92
14.86
-12.10
-14.3%
7.17
-1.52
-2.9%
9.77
32.14
30.47
17.41
16.8%
11.31
11.26
17.1%
17.51
38.31
44.22
39.81
42.4%
15.00
22.42
32.6%
7.05
30.48
29.61
37.56
33.4%
12.34
22.42
31.6%
Private-Label Operating Benchmarks

Low
Average
Industry 45
High
Company
H

North America Cost Per Pair Sold (production, freight, tariffs, x-rates)
Margin Over Direct Cost ($ per pair sold)
26.49
+6.84
28.59
+11.22
32.16
+15.48
0.00
0.00
Europe-Africa Cost Per Pair Sold (production, freight, tariffs, x-rates)
Margin Over Direct Cost ($ per pair sold)
26.36
+4.50
30.39
+11.41
36.27
+15.64
0.00
0.00
Asia-Pacific Cost Per Pair Sold (production, freight, tariffs, x-rates)
Margin Over Direct Cost ($ per pair sold)
20.94
+12.18
23.64
+16.65
28.35
+20.48
0.00
0.00
Latin America Cost Per Pair Sold (production, freight, tariffs, x-rates)
Margin Over Direct Cost ($ per pair sold)
20.36
+8.20
26.00
+16.38
37.80
+21.46
0.00
0.00
Footwear Industry Report © 2018 GLO-BUS Software, Inc. Page 7
06/12/2022, 08:41 BSG Decisions & Reports
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Industry 45 Cඍඔඍඊකඑගඡ Eඖඌ඗කඛඍඕඍඖගඛ ඉඖඌ Iඖඌඝඛගකඡ Tකඍඖඌඛ Year 14
Celebrity Endorsements
Celebrity
Year 15
Contract Holder

No. of
Offers
Highest
Offer
2nd
Highest
3rd
Highest

Most Recent Contract Offers
(letter in parens indicates company that made offer)
Judy Judge A Ludo 7

9,100 (F)
11,250 (F)
11,250 (F)
9,100 (F)
11,000 (A)
11,000 (I)
7,000 (I)
7,099 (I)
12,000 (I)
8,099 (I)
5,100 (F)
5,199 (C)
9,009 (A)
4,599 (C)
7,000 (A)
9,000 (G)
9,980 (A)
4,279 (A)
7,000 (I)
7,000 (G)
5,199 (C)
5,100 (F)
7,000 (G)
6,000 (F)
5,000 (I)
4,500 (F)
7,000 (B)
4,000 (F)
5,000 (I)
8,975 (A)
6,099 (I)
4,000 (G)
7,000 (B)
6,199 (C)
5,100 (F)
5,001 (D)
6,499 (C)
5,199 (C)
4,199 (C)
3,001 (D)
6,500 (G)
3,001 (D)
9,199 (C)
3,001 (D)

13,000 (I) 12,199 (A)

4,199 (C)
4,000 (F)

Kimmie Jimmel F Gravity Footwear 7 Bud Birkenstock F Gravity Footwear 7 Jose Montana A Ludo 7 Samuelle Jackson B Diverse Footware 8 Bronko Mars G HAPPY FEET LTD 6 Steff Caraway C Shoesio 6 Jay XYZ F Gravity Footwear 6 Nunchuck Norris I Running and shinni 7 Roger Federation I Running and shinni 6 Nick Shavan I Running and shinni 6 Anderson Blooper C Shoesio 4 Mic Jagermeister A Ludo 8 Jim Hardball D Sport Class 4 LaBron Game I Running and shinni 9 Flint Westwood B Diverse Footware 4

Co. N.A. E-A
A-P
195
120
165
70
0
190
100
0
320
0
0
0
97
L.A.
210
170
140
70
0
220
65
0
305
0
0
0
98

A
B
C
D
E
F
G
H
I
J
K
L
Avg.
225
90
140
65
0
245
60
0
335
0
0
0
97
215
160
140
45
0
240
45
0
320
0
0
0
97

Year 15 Consumer Appeal
(sum of consumer appeal indexes for
each company in the upcoming year)
Pricing and S/Q Rating Trends
N඗කගඐ Aඕඍකඑඋඉ Eඝක඗඘ඍ-Aඎකඑඋඉ
Aඛඑඉ-Pඉඋඑඎඑඋ Lඉගඑඖ Aඕඍකඑඋඉ
Footwear Industry Report Copyright © GLO-BUS Software, Inc. Page 8
Internet Price Wholesale Price S/Q Rating
10 11 12 13 14 15 16 17 18 19 20
$40
$50
$60
$70
$80
$90
4.0★
4.5★
5.0★
5.5★
6.0★
6.5★
Year
Price
S/Q Rating
Internet Price Wholesale Price S/Q Rating
10 11 12 13 14 15 16 17 18 19 20
$50
$60
$70
$80
$90
4.0★
4.5★
5.0★
5.5★
6.0★
6.5★
Year
Price
S/Q Rating
Internet Price Wholesale Price S/Q Rating
10 11 12 13 14 15 16 17 18 19 20
$40
$50
$60
$70
$80
$90
4.0★
4.5★
5.0★
5.5★
6.0★
6.5★
Year
Price
S/Q Rating
Internet Price Wholesale Price S/Q Rating
10 11 12 13 14 15 16 17 18 19 20
$50
$60
$70
$80
$90
4.0★
4.5★
5.0★
5.5★
6.0★
6.5★
Year
Price
S/Q Rating