TYPE YOUR RESPONSES TO THE FOLLOWING QUESTIONS:
Item 1) Briefly and specifically characterize the denim industry in which True Religion Jeans competes, including its basic (economic/competitive) structure, and the most important characteristics and recent trends. Be specific and use tools/concepts from our study of industry analysis.
Item 2) In light of your industry description (Item 1 response), evaluate how effectively True Religion has responded to industry and competitive forces over the time period covered in this case. In particular, evaluate True Religion’s strategic emphasis on product differentiation as an upscale “lifestyle” brand. Use both case evidence and financial analysis to evaluate True Religion’s competitive positioning and performance.
With respect to financial analysis, perform ratio/trend analysis that compares True Religion with at least two or three of its closest jean competitors (see. Exhibits B and C in True Religion case, pages PC 1-22 and PC 1-23).

CASE PAPER GUIDELINES:
1) INCLUDE ALL RATIO CALCULATIONS IN YOUR PAPER.
2) TYPE: Type your responses in simple 12-point font, and single-space.
3) LENGTH: Approximately 3-4 pages, but length may vary somewhat by case and questions. Be concise and specific.
3) HEADING: Place your Name and Case Paper #1 in the top right corner on the first page.
4) TITLE: Use the Case Company (e.g., True Religion Jeans) as your title. Center this title at the top of the first page only.
5) BODY OF PAPER: Format your paper around the Items. Use a heading for each item, as: Item 1. Indent on the next line and begin your response. Do not use any “introductory” or “background.” Instead, begin directly and specifically responding to the case question. Use standard indention (tab) for each new paragraph.
6) WRITING/GRAMMAR: This is a formal analytical paper. The general flow of such technical writing is: Evidence + Conclusion. The order doesn’t matter. You may open a response with a conclusion, and then follow with evidence. Or you may open with your evidence and close a section of response with your conclusion. The key is that you are always focused on making clear points and using evidence to support your conclusions.
Use short, simple sentences. This approach greatly reduces grammar mistakes. Edit your paper carefully, keeping an especially sharp eye out for lengthy sentences. Shortening sentences is the simplest way to improve clarity and avoid grammar mistakes.
Avoid informal language, slang or texting lingo. No BTW, hey, cool, cash-o-la, etc. If in doubt, write as you would to a prospective employer. Avoid starting sentences with the words “being,” “so,” or “with”—these words start us off on a trail toward grammar pitfalls. Avoid references to reading the case, as: “when I read this case…” or “after having read this case…” Assume that your reader has also read the case, and instead directly respond to the Item using the company name: “True Religion (TR) is achieving some success…” You may use “I” when describing conclusions—“I question TR’s decision to…”
7) MARGINS: Use one (1) inch margins top/bottom, left/right.
8) PAGE NUMBERS: Number your pages in the bottom right.
9) CITATION/QUOTES: Use citation for evidence from the case, as (9-2). Be sure to use quotation marks around all direct quotes.
EXTERNAL SOURCES: External sources are typically optional, although on a few cases you may be given instructions to use external sources. You may use external sources, but do not fall into the trap of allowing the conclusions of another analyst/author to substitute for your own! You must quote/cite any and all external sources. Failure to do so is a serious violation of the Breech Student Honor Code and Drury University policy. If you use external sources for your case paper, you should include a REFERENCES list at the end of your paper, with full (APA style) citation.
10) COMPETITOR FINANCIALS: If using competitor financials which are not included in the case study, be sure to cite your source (website address), or attach a copy of the competitor financials you used to calculate ratios for comparison. Show your work with all competitor ratio calculations.
11) CHARTS: Use one chart PER RATIO/METRIC (e.g., 1 chart for Operating Profit Margin, True Religion Jeans/Guess/Buckle vs. ARCADIA, another chart for Debt Equity—TR vs. Guess, Buckle). Wherever possible, use comparative charts (case company trend vs. competitor trend). Use color or clear differences in line style to distinguish one company’s trend from a competitor’s trend. Use Excel or similar format tool to produce neat and accurate charts. Be sure to include correct Axes labels and scaling (e.g., % for NPM, “X” for Inventory Turnover; ROA scaled in increments appropriate to the range of companies’ ROA’s).