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AFTER GLOOMY FINANCIALS, REEBOK HINTS AT CHANGE IN TACTICS

          Reebok Int'l, citing "difficult industry conditions,"
     said it will take a pretax restructuring charge of $25M to
     $35M in the current quarter, according to Jon Auerbach of
     the WALL STREET JOURNAL.  Reebok said the charge will be
     used for "eliminating management layers" and to combine
     business units.  Company CEO Paul Fireman said the moves
     "allow us to compete more effectively in the short-term." 
     The news came as Reebok released its fourth-quarter and
     year-end financial reports, which were generally "in line
     with analysts' expectations."  For the year, net income fell
     3% to $135.1M, down from $139M.  The latest figure included
     pretax charges of $58.2M and a $40M income tax credit
     related to the sale of Avia.  Reebok said that results from
     the first quarter of '98 would continue to lag, but it is
     expecting profit margins to improve in the second half of
     this year (WALL STREET JOURNAL, 2/3).  The BOSTON GLOBE
     reports that Reebok said it will cut management jobs,
     combine units and centralize operations.  It will also
     emphasize apparel and shoes carrying the Greg Norman and
     Ralph Lauren brands and increase its efforts to sell more
     casual brown leather shoes (BOSTON GLOBE, 2/3).

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