FIN 486 WEEK 4 Learning Team Week 4 Team Problem

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FIN 486 WEEK 4 Learning Team Week 4 Team Problem

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FIN 486 WEEK 4 Learning Team Week 4 Team Problem

FIN 486 WEEK 4 Learning Team Week 4 Team Problem

Resource: Principles of Managerial Finance, Ch. 14

Complete the Integrative Case 6 O’Grady Apparel Company.

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O’Grady Apparel Company was founded nearly 160 years ago when an Irish merchant named Garrett O’Grady landed in Los Angeles with an inventory of heavy canvas, which he hoped to sell for tents and wagon covers to miners headed for the California goldfields. Instead, he turned to the sale of harder-wearing clothing.

Today, O’Grady Apparel Company is a small manufacturer of fabrics and clothing whose stock is traded in the OTC market. In 2015, the Los Angeles–based company experienced sharp increases in both domestic and European markets resulting in record earnings. Sales rose from $15.9 million in 2014 to $18.3 million in 2015 with earnings per share of $3.28 and $3.84, respectively.

European sales represented 29% of total sales in 2015 up from 24% the year before and only 3% in 2010, 1 year after foreign operations were launched. Although foreign sales represent nearly one-third of total sales, the growth in the domestic market is expected to affect the company most markedly. Management expects sales to surpass $21 million in 2016, and earnings per share are expected to rise to $4.40.

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FIN 486 WEEK 4 Learning Team Week 4 Team Problem

FIN 486 WEEK 4 Learning Team Week 4 Team Problem