The industry is definitely going through some difficult times, ... We have been making the necessary adjustments to address the current business climate and we are prepared to do what is necessary to position the company to return to greater profitability in the future.
More Quotes from Paul Fireman:
The retail slowdown has continued in the first half of 1998 and has resulted in higher retail cancellations and returns, ... We believe that in the current environment many retailers are being more conservative in their future purchases, leaving more open-to-buy dollars available for at-once business. This situation, in combination with the unusually low at-once business in last year's second half, creates the potential for our performance to be better than our backlog trend indicates.Paul Fireman
I think we've made some strategic decisions to align with a partnership relationship with our key retailers throughout the world. We've been successful almost 100 percent getting them aligned, giving them creative ideas. In some cases we're giving them exclusive properties of ours to use. They're effectively enjoying it, we're enjoying it and it's helping bring both the relationship and the retail presence much stronger for Reebok than it has been, and I think that's the beginning steps.
Paul Fireman
I am pleased with our earnings performance for the quarter, and I'm confident in our ability to execute our plans for 2001,
Paul Fireman
While in the short term this is negatively impacting our operating results, we believe our strategy to reposition our business with Footlocker will help to improve our operating margins in the future,
Paul Fireman
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