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Non-Tech : Just For Feet (FEET)

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To: Don Dorsey who wrote (482)	1/14/1998 10:35:00 AM
From: Don Dorsey	of 750

Retailers were left with a large backlog of Reeboks when they didn't sell as well as expected. '97 was a tough year in the athletic shoe industry. Bad new keeps trickling out, yet FEET is in a slight uptrend since August. To me this is a very bullish sign. Fireman say Reebok to change focus of ads Reebok will be putting the focus on the quality of its sports shoes and apparel rather than the celebrity athletes who wear them as it tries to expand its share of the sneaker market. "Instead of building heroes in the future, we will build products of the future and let heroes wear it," Paul Fireman, chairman and chief executive of Stoughton-based Reebok International LTD., said. But Fireman told reporters he expects only minimal growth next year in Reebok's share of the estimated $14 billion US market. That's partly because retailers have been left with big unsold inventories of sneakers as youngsters' demand unexpectantly fell off last fall for many of the most heavily promoted shoes endorsed by big-name stars. Fireman said Reebok has no plans to cut prices to help retailers get rid of the extra inventories, and said that it could take the industry 6 months to a year to whittle down the backlog. Reebok shares rose 15/16 to 26 15/16 (AP)

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