Reebok 2011 Annual Report Download - page 237

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adidas Group
2011 Annual Report
ADDITIONAL INFORMATION
233
2011
05.2 Glossary
V
Vertical retailer
A retail company that (vertically) controls the entire
design, production and distribution processes of its
products.
Visual merchandising
Activity of promoting the sale of goods, especially
by their presentation at the point of sale. This
includes combining products, environments and
spaces into a stimulating and engaging display to
encourage the sale of a product or service.
VOCs (Volatile Organic Compounds)
Volatile organic compounds (VOCs) are organic
chemical compounds that can vaporise into the
air and may be harmful and cause breathing and
health problems. VOCs are by-products of the shoe
manufacturing process.
W
Weighted average cost of capital
(WACC)
Calculation of the cost of capital according to the
debt/equity structure, utilising a weighted average
cost of capital (WACC) formula. The cost of equity is
typically computed utilising a risk-free rate, market
risk premium and a beta factor. The cost of debt is
calculated through the risk-free rate, credit spread
and average tax rate.
Working capital
A company’s short-term disposable capital used to
finance the day-to-day operations.
Working capital = total current assets – total cur-
rent liabilities
SEE ALSO OPERATING WORKING CAPITAL
.
World Business Council for
Sustainable Development (WBCSD)
The WBCSD is a global association of around
200 international companies dealing exclusively
with business and sustainable development
:
WWW.WBCSD.ORG
.
World Federation of the Sporting
Goods Industry (WFSGI)
The WFSGI is an independent non-profit organisa-
tion formed by sporting goods brands, manufac-
turers, suppliers, retailers and other sporting
industry-related businesses. It is the world authori-
tative body for the sporting goods industry and is
officially recognised by the International Olympic
Committee (IOC) as the industry representative
:
WWW.WFSGI.ORG
.