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1996: The push into performance sneakers also translated into large increases in expenses, resulting in decreasing net income, from $254.5 million in 1994 to $164.8 million in 1995 to $139 million in 1996.
1998: Reebok took a restructuring charge of $23.7 million in the first quarter of 1998 for costs related to eliminating management layers, combining business units, and cutting its workforce by 500, or 10 percent.
1999: Declining sales prompt Reebok to lay off 10% of its global workforce.
Substitute products and services 1) They are an attractive alternative product or service, which customers can easily shift to if there are low switching costs OR
Substitute products and services 2) The availability of substitutes invites customers to make price, quality and performance comparisons IS IT CHEAPER? CAN I JUMP HIGHER? CAN I RUN FASTER?