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Accounts receivable at December 31, 2002, increased by $38.4 million December 31, 2001, an increase of 10.0% as a result of increased sales in the fourth quarter of 2002 as compared to 2001, however days sales outstanding in accounts receivable decreased by 5 days. Despite the current economic situation domestically and abroad, Reebok expects to see improvements in 2003 through strategic marketing, financial assessment, and increased social responsibility.
Financial Performance
The company's overall gross margin was 36.7% of sales for 2002, as compared to 37.9% for 2000, a decrease of 120 basis points...
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