GOLF Golfsmith Jan 2010 Presentation

8/14/2019 GOLF Golfsmith Jan 2010 Presentation

1/41

Kmhdstykd. Mffevatmef. Dxpdrmdfbd.

Oafuary, >313


2/41

>>

@ekhslmtg Mftdrfatmefak Gekimf`s, Mfb.Rahd Garner Rtatdldft

Tfidr tgd Srmvatd Rdburmtmds Kmtm`atmef ^dherl Abt eh 1==4

Rahd Garner

Eur prdsdftatmef mfbkuids, afi eur rdspefsd te varmeus qudstmefs lay mfbkuid,herwari-keejmf` statdldfts aneut tgd Belpafys rdvdfuds afi darfmf`s afianeut eur huturd pkafs afi enodbtmvds. Afy subg statdldfts ard sunodbt termsjs afi ufbdrtamftmds tgat beuki bausd tgd abtuak rdsukts afi tgdmlpkdldftatmef eh tgd Belpafys pkafs afi epdratmefs te vary latdrmakky.Ygdsd rmsjs ard imsbussdi mf tgd Belpafys hmkkmf`s wmtg tgd R.D.B., mfbkuimf`,wmtgeut kmlmtatmef, tgd HE^L 13J hmkdi Larbg 2, >33=.

Kmhdstykd. Mffevatmef. Busteldr Dxpdrmdfbd.


3/41

22

Mfvdstldft Gm`gkm`gts

Rtref` Nrafi ^dbe`fmtmef

Kdaimf` rdtamkdr jfewf her mffevatmef afi ufmqud sgeppmf` dxpdrmdfbd mf tgd `ekhafi tdffms spdbmakty sterd larjdt

Epdratmf` Lar`mf Dxpafsmef Eppertufmty

Mlprevmf` epdratmf` dhhmbmdfby

Mfbrdasmf` sterd preiubtmvmty

Basg hkew Mlprevdldfts Rakds @rewtg Eppertufmtmds

Dxpafi sterd nasd mf jdy larjdts

Kdvdra`d mftdrfdt, batake` afi rdtamk te irmvd sakds

@amf larjdt sgard mf befsekmiatmf` mfiustry

Haverankd Idle`rapgmb Yrdfis

Dxpdrmdfbdi Lafa`dldft Ydal

Kmhdstykd. Mffevatmef. Busteldr Dxpdrmdfbd. BEFHMIDFYMAK -- @ekhslmtg Mft'k Gekimf`s, Mfb. |


4/41

99

Nrafi Sesmtmef

Efd eh tgd kar`dst luktm-bgaffdk rdtamkdrs eh `ekh dqumpldft, appardk,bkun lajmf`, afi sdrvmbds

^dbe`fmzdi rdtamk nrafi wmtg 9>-ydar gdrmta`d eh mffevatmef &sdrvmbd

Srevdf sterd leidk wmtg abtmvmty-nasdi sgeppmf` dfvmrefldft

Imhhdrdftmatdi lmx eh fatmefak nrafis subg as Bakkaway,YaykerLaid, Smf`, Ymtkdmst, Benra afi Lmzufe afimftd`ratdi preprmdtary nrafis subg as Kyfx afiRfajd Dyds afi few Lab@rd`er!

Ydffms spdbmakty kdaidr



5/41

44

@amfmf` Larjdt Rgard

Yetak Mfiustry

@ekhslmtg

Belparmsef ms nasdi ef aiimf` te`dtgdr hmvd batd`ermds?bkuns, nakks, na`s, `kevds, afi sgeds.

Reurbd? F@H *

30 te 37 37 te 3=

@ekhslmtg Rgard@rewtg >.=1% 8.31%


>330-$9.7N Mfiustry >337-$9.4N Mfiustry >33=-$2.=N Mfiustry

4.2=%

=9.81%

4.44%

=9.94%

4.77%

=9.1>%

Nm` Nex larjdt sgard kmjdky te mfbrdasd fdar-tdrl wgmkd etgdr ehh-beursdrdtamkdrs dxpdrmdfbmf` larjdt sgard kess

Yetak reufis pkaydi gas nddf rdkatmvdky hkat her tgd kast 4 ydars


6/41

88

Mfiustry Befsekmiatmef

>9%

82%1=%

18%40%

>3%

3%

>3%

93%

83%

73%

133%

1>3%

1,>29 Ieers 7.8LL Rq Ht

Nm` Nex

Ldimul/Kar`d

Neutmqud/Rla

Reurbd? Kef`mtuids >33= Ehh Beursd ^dtamk @ekh Larjdt


>33= dtamk Belpesmtmef

1409

190=1>29

733

1133

1933

1033

>330 >337 >33=

Ehh-Beursd Ieers

->1.8%

Rmfbd >330 tgd fulndr eh tetak ehh-beursd ieers idbrdasdi ny >1.8%


7/41

@ekhslmtg | 2-]dar Nrafi Xmsmef


8/41777

2-]dar Nrafi Xmsmef

Pd wmkk nd jfewf her fdw afi vakud, wmtg af dlpgasms efakways gavmf` tgd katdst fdw preiubts

Pd wmkk sgewbasd eur pdepkd afi tgdy wmkk nd tgd ndstdxpdrts mf tgd mfiustry

Pd wmkk idkmvdr a pdrsefakmzdi dxpdrmdfbd her dvdry busteldr

Pd wmkk kdai tgd way efkmfd mf irmvmf` a `kenak nrafi dxpdrmdfbdtgat irmvds sakds mf akk eh eur bgaffdks

@ekhslmtg wmkk nd jfewf as tgdnrafi tgat mfspmrds pdepkd te pkay

ndttdr afi dfoey kmhd lerd



9/41===Kmhdstykd. Mffevatmef. Busteldr Dxpdrmdfbd. BEFHMIDFYMAK -- @ekhslmtg Mft'k Gekimf`s, Mfb. |

Fdw Sreiubt Kaufbgds


10/4113

Mffevatmvd Sreiubt & Sreletmefs

13Kmhdstykd. Mffevatmef. Busteldr Dxpdrmdfbd. BEFHMIDFYMAK -- @ekhslmtg Mft'k Gekimf`s, Mfb. |


11/41111111

Tfmqud Dvdfts



12/411>1>1>

Larjdtmf` Ruppert

@dt bkesdr te eur busteldrs rdsdarbg afi B^L

Eptmlmzd ^dtamk suppert Ymdrdi appreabg Wtrdld sterds, Berd sterds

Bkmlatmb larjdtmf` beftmfuds

Dxpafi `rassreets

Belp ufmqud dvdftsRdr`me/Sgmk, hrdd reufis/kdssefs, dtb

Kdai tgd mfiustry mf fdw preiubt kaufbgds

Kdai tgd mfiustry mf sebmak larjdtmf` dhherts

^dhmfd eur Imrdbt nusmfdss afi sbmdfbd eh akk spdfimf`



13/41

@ekhslmtg | 4 Irmvdrs eh Rtratd`mb Skaf


14/411919

4 Jdy Irmvdrs te Rubbdss


Dxpafi Rterd Nasd

- 9 fdw sterds mf >313

- 0 fdw sterds mf >311- 0 fdw sterds mf >31>

^dhmfd Imrdbt Nusmfdss

- @rew wdn nusmfdss a``rdssmvdky

- Appky larjdtmf` sbmdfbd te rdhmfd batake` bmrbukatmef ny busteldr sd`ldft

Mfbrdasd @ress Lar`mfs- Hebus ef Sreprmdtary nrafis

- Rgmht te Lar`mf-rmbg batd`ery lmx

Mlprevd Burrdft ^dtamk Sreiubtmvmty

- Lajd sdkkmf` bukturd rdak

- Dxmt peer pdrherlmf` sterds wmtg fe petdftmak

Epdratmefak Dxbdkkdfbd

- Mlprevd prebdssds

- Brdatd gm`g pdrherlafbd bukturd


15/41

@ekhslmtg | Fdw Rterd @rewtg


16/4118

Dstankmsgdi a Fdw ^dak Dstatd Ldtgeieke`y & Rtafiaris

Eptmlmzd Dxmstmf` Rterd Serthekme 2 ]r Xmdw

Nabjhmkk afi idhdfi dxmstmf` Jdy Larjdts/Kebatmefs

Rtratd`mbakky prmermtmzd perthekme levds

Midftmhy & Dftdr Fdw Larjdts/Kebatmefs

Rddj Gm`gdst ^EM/Larjdt Rgard Eppertufmtmds Lerd Yep

Sdrherldrs Dftdr belpdtmtmvdky epdf larjdts/kebatmefs

Rtdps te Xakud Brdatmef

Fdw Rterd @rewtg



17/4110

Rterd ^dleidks

Ferwakj, BY

Lafgattaf, F] Austmf Rgewreel

Raf Oesd, BA

Peeikafi Gmkks, BA

Bgmba`e Rbgaulnur`, MK

Bgmba`e Iewfdrs @revd, MK

10

Bapmtak Mfvdstldfts


ndherd


18/4117

+/- 17,333 sq. ht. Hukk Sreiubt Assertldft

Hukk Rmzd Gmttmf` Nays (Smd) & HukkSuttmf` @rddf

Bdftdr Appardk Hebus

Srd-Ewfdi Bkun Bdftdr

Bkun Rekutmefs Bdftdr wmtg Bkunlajmf`Rtahh

@ekhYDB Mfsmid

NLP 2 Rdrmds

17Kmhdstykd. Mffevatmef. Busteldr Dxpdrmdfbd. BEFHMIDFYMAK -- @ekhslmtg Mft'k Gekimf`s, Mfb. |


19/411=

A @ekhsl mtg Rterd Skus Huk k Rdrvmbd @ekh

afi Ydff ms

App rex . >4,333 sq. ht.

Dfgafbdi Dxpdrmdftmak Ardas

Dxpafidi Gmttmf` Nays (8-7) Dxpafidi Suttmf` @rddf

@ekhYDB Mfsmid

Ydffms

NLP 4 Rdrmds

1=Kmhdstykd. Mffevatmef. Busteldr Dxpdrmdfbd. BEFHMIDFYMAK -- @ekhslmtg Mft'k Gekimf`s, Mfb. |


20/41

>3

Ygd huturd eh nm` nex e k h afi tdffms

rdtamk

23,333 93,333 sq . ht .

A huf afi mfspmrmf` dfvmrefldft

A sgewbasd her Mffevatmef, Kmhdstykd afiufrmvakdi Dxpdrmdfbd

NLP 0 Rdrmds

>3Kmhdstykd. Mffevatmef. Busteldr Dxpdrmdfbd. BEFHMIDFYMAK -- @ekhslmtg Mft'k Gekimf`s, Mfb. |

F Rt @ tg


21/41

>1

Yar`dt Fdw Rterd Dbefelmbs

0 Rdrmds 4 Rdrmds 2 Rdrmds

Rakds SRH $1=2 $>>3 $>27

@ress Rquard Heeta`d 24,333 >4,333 >3,333

Rakds - ]dar > $8,043 $4,433 $9,043

9 Pakk Beftrmnutmef - ]dar > 12.>% 1>.>% 1>.4%

@ress Numki-Eut Bests $1,813 $1,143 $=>3

Srd-epdfmf` Bests $123 $123 $123

Mfmtmak Mfvdftery $1,433 $1,>43 $1,333

Yetak Mfvdstldft $2,>93 $>,423 $>,343

M^^ 4 ]dars 18.4% 10.3% 10.>%

Beftrmnutmef

Mfvdstldft

^dturfs


Fdw Rterd @rewtg


22/41

@ekhslmtg | ^dhmfd Imrdbt Nusmfdss

^ hm Im t N m


23/41

>2>2>2

Pdn Gew ie wd stabj up5



^ hm Im t N m


24/41

>9>9>9

Pdn >313 Jdy Sreodbts & Mfvdstldfts

@rewtg wmkk beld hrel tgd hekkewmf`?

1. Rmtd dfgafbdldfts beftdft afi hufbtmefakmty

Ygmri party partfdrsgmps

Lenmkd afi sebmak dxpafsmef Fald Bekkdbtmef

Eutkdt Rtratd`y

>. Er`afmzatmefak Mfvdstldfts



^ hm Im t N m


25/41

>4>4>4

Rmtd Dfgafbdldfts

Rbakd Xmide Beftdft(Dxbkusmvd & XdfierSrevmidi)



^ hm Im t N m


26/41

>8>8>8

Dlamk Dxpafsmef

^dtamk fald bekkdbtmef

Dlamk appdfi afi iatabapturd

Gmrd idimbatdi dlamklafa`dr

Ndttdr sd`ldftatmef

Imsbmpkmfdi prebdss her akk laoer beftrabt te nd belpdtmtmvdky nmiafi savmf` ldasurdi - sakds nasd tee kew

mf seld mfstafbds 2ri party habmkmtaters afi/er beftmf`dfby hmrls utmkmzdi

Dxmt ufprehmtankd sterds wgdrd tgdrd ms fe vmdw tewari prehmtanmkmty

sakds nasd tee kew

baffet aioust dxpdfsd strubturd har dfeu`g

Mlpkdldft kaner lafa`dldft teeks te mlprevd sterd kdvdk stahhmf`

te trahhmb afi irmvd eut ufpreiubtmvd best Mlpkdldft @ekhslmtg Keyakty Mfidx (@KM) afi usd idtrabter

mfherlatmef te irmvd prebdss mlprevdldfts

Dstankmsgmf` vdfier bekkaneratmef prebdss te mlprevd dhhmbmdfbmdsmf suppky bgamf

ndttdr belpkmafbd

bgar`dnabjs her imsbrdpafbmds

2>





33/41

22

Ruppky bgamf rdhmfdldfts

eptmlmzd ldtgei eh sgmpldft (IB vs. irepsgmp)

Irmvd tgd sdkkmf` bukturd tajd tasjs ehh tgd sdkkmf` hkeer

sbaffdrs pgasd MM afi ndyefi

SER mlprevdldfts

rdbdmvmf` mlprevdldfts

Rystdl mlpkdldftatmef te dfankd fdw/ndttdr idbmsmef lajmf` Erabkd heufiatmef eh idbmsmef suppert

wardgeusd kaner afi skettmf`

ldrbgafimsd systdls

B^L/Keyakty pre`ral suppert

Irmvd nusmfdss ufmt prehmtanmkmty wmtg mlprevdi mfherlatmef afiteeks

^dtamk

Pdn

Bakk bdftdr22



Mfstmtutd Epdratmefak Dhhmbmdfbmds


34/41

29

Mfstmtutd Epdratmefak Dhhmbmdfbmds


Best Ravmf`s Mf >33= Mf >313 Fdt

Ravmf`s

Imstrmnutmef Dhhmbmdfbmds 1,138 >43 1,248

_dre nasdi nui`dt 933 933

Dkmlmfatmef eh fef-dssdftmak

pesmtmefs

=3> =3>

Dfdr`y Lafa`dldft 147 147

Srehdssmefak Rdrvmbds 1>3 1>3

^diubdi tdkdbel best 190 83 >30

^diubdi mfsurafbd best >81 >81

Kdasd fd`etmatmefs 989 >9= 012

(1) Luktm statd tax kmanmkmty 237 77 2=8

Rpdbmak eridr prebdss

mlprevdldfts

- 493 493

Arlerdi bar beftrabt 13> 13>

Rbaffdr Sreodbt - >04 >04

Aivdrtmsmf` 4= 4=

Basg lafa`dldft >43 >43

Lmsb. Srehdssmefak Rdrvmbds 110 110

YEYAK 9,2=9 1,98> 4,748

Rullary eh 2 ]dar DNMYIA Irmvdrs


35/41

24

Rullary eh 2 ]dar DNMYIA Irmvdrs

24

>33= DNMYIA Dstmlatd $ 7,333

>31> DNMYIA Yar`dt $22,333Bgaf`d $>4,333

Irmvdrs?Belp Rakds @rewtg 4,233

Imrdbt @rewtg >,333Lar`mf mlprevdldft 7,333Best Ravmf`s >,433Fdw Rterds- >313 2333

- >311 4333- >31> >>33

13,>33Mfhkatmef/Best Mfbrdasds ;2,3336



36/41

@ekhslmtg | Hmfafbmak Gm`gkm`gts

Rtatd eh tgd Nusmfdss


37/41

202020

Rtatd eh tgd Nusmfdss

Rakds trdfi stanmkmzdi up 3.=% mf Q9

Mlprevdi mfvdftery turfs afi rdiubdi avdra`d mfvdftery pdr sterd 0%

@dfdratdi hrdd Epdratmf` basg hkew eh $>3 lmkkmef her tgd ydar

^diubdi idnt ny $18 lmkkmef


@rewtg Gm`gkm`gts


38/41

2727

27 98

4>8>

0> 0> 09

>332 >339 >334 >338 >330 >337 >33=

# eh sterds

$>40.0 $>=8.> $2>2.7

$240.= $277.> $207.7

$227.3

>332 >339 >334 >338 >330 >337 >33=

Yetak ^dvdfuds


@rewtg Gm`gkm`gts

>33= Dstmlatdi ^dsukts


39/41

2=2=

Jdy Habters (333's)

]YI '3= ]YI '37 Bg`.'3=/'37 % Bg`.

Fdt dvdfuds 227,3>4 207,00> (93,090) -13.7%

@ress Lar`mf % 29.>% 22.0% 3.4% 1.4%

DNY (2,>74) (2=9) (>,7=1) 022.7%

Mfvdftery 00,042 =3,9== (1>,098) -19.1%

Idnt/Nerrewmf`s 28,333 41,037 (14,037) -23.9%


>33= Dstmlatdi ^dsukts


40/41

@ekhslmtg | Rullary

Pgy @ekhslmtg5


41/41

Pgy @ekhslmtg5

Efd eh tgd kar`dst luktm-bgaffdk rdtamkdrs eh `ekh dqumpldft, appardk,bkun lajmf`, afi sdrvmbds

^dbe`fmzdi rdtamk nrafi wmtg 9>-ydar gmstery

Srevdf sterd leidk wmtg abtmvmty-nasdi sgeppmf` dfvmrefldft

Imhhdrdftmatdi lmx eh fatmefak nrafis afi mftd`ratdi preprmdtarynrafis subg as Kyfx, Rfajd Dyds afi Lab@rd`er

Dstankmsgdi imrdbt bgaffdk

Batake`s, Mftdrfdt

Aivafbdi mfhrastrubturd

Hkdxmnkd, sbakankd, best-dhhdbtmvd

Dxpdrmdfbdi kdaidrsgmp

@rewtg stratd`y Dxpafi sterd nasd, `rew imrdbt bgaffdk, fdw nusmfdss

eppertufmtmds

Rtrubturak Bgaf`d Tfidrway

Mfiustry Befsekmiatmef

Documents

GOLF Golfsmith Jan 2010 Presentation