Just for Feet, Inc
Just For Feet, Inc. operates retail stores in the brand name athletic and outdoor footwear and apparel market. Just for Feet was found in 1977 with the opening of a small mall based store and opened its first super store in 1988. Because of their success and high sales volume generates by the large store Company has concentrate primarily on develop and refining its superstore concept. As of January 1999, they operate 120 superstores, which 23 superstores opened in fiscal 1997 and 26 superstores opened in fiscal 1998. Just for Feet plans to open 25 stores during fiscal year 1999 and 2000. In 1997, Just for Feet acquired Athletic Attic and Imperial Sports, which are now operated as the specialty store division of the Company. As 1999, the company opened 141 company owned specialty stores. The company opened 51 new specialty stores in fiscal 1998 and plan to open proximally 60 new specialty stores in fiscal 1999 and proximally 50 to 100 in fiscal 2000. Historically, analysis has regarded a current ratio of 2.00 to be the normal. Just for Feet has a current ratio of 1.998 in 1998 and 3.387469 in 1999, this was a good improvement on the liquidity measure to pay current liabilities. The current ratio can give a sense of the efficiency of a company's operating cycle or its ability to turn its product into cash. Quick ratio is a variation of the current ratio, the only difference is that it ignore inventory on the basis that inventory is current asset that is the furthest removed from cash. Inventory is excluded because some companies have difficulty turning their inventory into cash. Just for Feet has a quick ratio of 0.674598 for 1998 0.373715 for 1999. Just for feet is planning to open approximately 150 stores from 1999 and 2000, they had acquired more inventory to supply to their new stores. This is the main reason of why the current ratio is up and the quick ratio is down. Just for Feet has invest most of its cash to open their new super...
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