lauren roberts mini-portfolio
DESCRIPTION
trying to make the world a more beautiful place one project at a timeTRANSCRIPT
The American Society for the Prevention of Cruelty to Animals
it’s life or death.
The American Society for the Prevention of Cruelty to Animals
it’s life or death.
to healthy
a yummy
TWIST
for more recipes go to www.cuisinar t.com
Toothsome and succu
lent nectarines are
well
matched with orang
es and mango in thi
s smoothie,
which bursts with fla
vor. A glass of this
brillant
orange concoction w
ill put a yummy twis
t on the
kids typical snack.
1 1/4 cups orange juice
2 cups diced fresh
nectarines, frozen
1 cup diced fresh m
ango, frozen
Pour the juice into
your SmartPower
Premier 600-Watt Blend
er. Add the
nectarines and mang
o. Blend until smoot
h.
Nectarine
Nelly
Cuisinart®
JACKSONVILLE MAGAZINE: MAY 2009 5756 JACKSONVILLE MAGAZINE: MAY 2009
WORDS BY ALISON TRINIDAD • LAYOUT BY LAUREN ROBERTS
Homegrown surferschase the perfectwave and weather
the wipeoutsalong the way.
ut bluntly, pro surfers don’t fantasize about the water lapping atJacksonville’s beaches. Call ‘em flat, choppy or mushy, waves that get theadrenaline pumping are few and far between in this corner of the ocean. Theoccasional storm or Nor’easter can whip up some head-high sets, but moreoften than not, the conditions are better suited for shelling than surfing.Still, there is a robust surf culture in Northeast Florida. From surf shops
to surf camps, bikinis to flip-flops, there’s no escaping the beach townmentality once you cross over the Intracoastal—especially during the summer months.More than an unhealthy preoccupation with baggy shorts and shaggy hair, surfing ishow some First Coast residents make their living year-round. And as unpredictable aliving as it is, an ailing economy isn’t making it any easier to earn a buck.“It’s tough right now,” says Fernandina Beach surfer Sean Poynter, whose main
sponsor (Volcom) cut him from its team after the new year. “Companies are makingcuts that they don’t want to, but have to, make.”Poynter, 19, still is traveling to compete in pro events while his agent, Greg
Renfroe, shops his video portfolio and resumé to potential sponsors. Renfroe, head ofPro Surfing Management in St. Augustine, represents other locals like Asher Nolanand Gabe Kling, the only Northeast Floridian currently on the Association of SurfingProfessionals (ASP) World Tour, the top-tier professional circuit in competitive surfing.Only 45 men and 17 women in the world qualify every year. (Karina Petroni, 21, ofAtlantic Beach qualified in 2008.)
ZANDER MORTON IN HAWAIIPHOTO BY RYAN MILLER
know the business. In Florida, amateurs startsurfing in events and competitions put on bythe Eastern Surfing Association (ESA), which at7,000-plus members is the largest amateursurfing club in the world. Prize money typicallyisn’t attached to amateur-level contests, butbusinesses can sponsor participants, paying fortheir travel, equipment and entry fees inexchange for promoting their merchandise.Tweens and teens also might compete in theNational Scholastic Surfing Association (NSSA)conference, the highest level of competitionbefore turning pro in North America.To earn money from contests, surfers can
hang up their amateur status and turn pro.Most join the ASP World Qualifying Series(WQS), an open-entry competitive circuit thatdetermines which surfers qualify for the WorldTour. Anyone who pays the membership fee cancompete. As such, there are thousands of WQSsurfers in the world.If they’re good, the wins start rolling in and
a buzz begins to build. The hype may beenough to land endorsement deals, which canlead to a lucrative career as a “photo surfer,”posing for sponsor pictures (usually set in themost far-flung of places) that they hope surfmagazines will pick up.Travel ranked both as a plus and a minus for
the surfers we talked to. They say they enjoygoing to new places on a whim’s notice butcould do without exorbitant airline fees (chargedper board, it’s not unheard of for fees to costmore than the price of the flight). Oftentimes,competitive surfers are away from home (andtheir friends and family) for months at a time.On average, there are about 45 WQS events
per season, and each is rated by the amount ofprize money and points it rewards participants.If there are too many entrants, surfers with themost points receive preference.“You’re more worried about points than
money,” says Cody Thompson, a 19-year-oldsurfer from Jacksonville Beach. In 2008, heand his 17-year-old brother, Evan, were rankedninth and 15th respectively in the ASP’s juniorpro North American tour (for surfers 20 andyounger); they hope to finish in the top 5 thisseason to qualify for the world junior champi-onships in Australia. This is the second seasonthat both are relying on surfing for income.Youngest brother Tristan, 12 and also a surfer,is working his way up the amateur ranks; oldestbrother Trey doesn’t compete.“You get paid what you’re worth, based on
results,” says Cody, the leader of the tow-haired pack, all sponsored by Billabong. “Youwant to prove to your sponsors that you’reworth it.”“With the economy, it’s hard to ask for any-
thing,” adds Evan. “It’s kind of a wake-up callfor a lot of guys. Sponsors are cutting guys,events are being cancelled. There are no bigraises. … It gets 10 times harder every year.”More experienced surfers like Nolan and
Morton are adapting to the tougher market.Nolan, from Atlantic Beach, recently accepted
a position heading Hurley’s East Coast market-ing and promotions. With sponsors other thanHurley under his belt—like Smith OpticsSunglasses and Sunrise Surf Shop inJacksonville Beach—the 30-year-old says heplans to continue competing in the NorthAmerican tour and go on a few photo tripsduring the year. “I don’t have a really crazygoal, but I want to learn the industry and builda relationship with Hurley. I definitely want tostay in the industry.”Morton, who works as a journalist while he
travels and surfs, admits some drawbacks: “Itcan be stressful, because it’s all about yourperformance. Getting your photo published inmagazines—there’s only so much magazinespace, and it’s hard to get yourself in there.You just have to find ways to keep getting paidand keep doing your job.”Also on the Billabong team, 24-year-old
Ryan Briggs of Ponte Vedra Beach competes inWQS events (like the 6.0 Lowers Pro in April, acompetition in San Clemente, California, with a$145,000 purse). But, disillusioned by thenature of competitive surfing, he is concentrat-ing on being a photo surfer.“It’s cut-throat,” Briggs says. “You get hype
by winning contests, but it’s not the cool thinganymore. Tours aren’t where the waves are.That’s the whole feeling of being a surfer—tosurf world-class waves. You’re not thinkingabout anything else but catching that nextwave.“It’s a rush,” he says. “But, like they say,
only a surfer knows the feeling.” *J
It’s an elite club that boasts a “locals only”attitude, for sure. But for those who are goodenough to get in, it’s a dream come true.“I’ve had a lucky, fun and enjoyable life,”
says Nolan, a consistently high-performingsurfer who has yet to qualify for the World Tour.“I can’t complain about it. I’ve probably done alot and seen a lot of things that most people at30 don’t. … [But] it’s not like golf or tennis—the money in it is really hard. The top 10 aremaking a lot of money. I’ve made a good living,but it’s definitely not a retiring job.”
For many pro surfers—especially those with-out sponsors to foot the bill—working side jobsis a must in order to afford the lifestyle, whichfor the most part consists of a non-stop sched-ule of globe-trotting and training. For example,when he’s in Fernandina, Poynter helps out inthe family’s restaurant businesses. Also a prosurfer, Zander Morton says he works at a surfshop in St. Augustine and does marketing workhere and there when he’s at home. Morton, whowon the Open Men’s title at the 2003 ESAEastern Championship before turning pro, has
since shifted his focus from winning contests towriting about them. His work has been pub-lished in Surfing, Transworld Surf, and EasternSurf magazines among other industry pubs. “Idabble in a little of everything to make itwork,” says the 24-year-old, who is sponsoredby Matix Clothing. “[The pay] is not as good asif you’d qualify for the tour, but you still get totravel to exotic countries. And both the spon-sors and magazines pay for the words.”At its core, surfing is about having fun. But,
in order to make some cash, surfers have to
58 JACKSONVILLE MAGAZINE: MAY 2009
It’s kind of a wake-upcall for a lot of guys. Sponsors are cutting guys, eventsare being cancelled. There are no big raises. It gets 10times harder every year.
JACKSONVILLE MAGAZINE: MAY 2009 59
GABE KLINGPHOTO BY RYAN MILLER
ASHER NOLANPHOTO BY JIMMY WILSON
RYAN BRIGGSPHOTO BY NATHAN ADAMS
““
THE THOMPSON BROTHERS (EVAN, TRISTAN & CODY)PHOTO BY LOGAN BOWLES
I CAN’T COMPLAIN. I’VEMADE A GOOD LIVING, BUT IT’S
DEFINITELY NOT A RETIRING JOB.
SEAN POYNTERPHOTO BY TOM CAREY
KARINA PETRONIPHOTO COURTESY OF KARINAPETRONI.COM
—ASHER NOLAN
—EVAN THOMPSON
2008 marks a further very strong increase in the group’s results, reflecting the quality of the management
of Jean-Paul Agon and his teams. The level of results achieved enables us to propose another substantial
increase in dividend of +16.9% to the Annual General Meeting on April 22nd 2009. The pay-out ratio also
has once again increased and now amounts to 41.1%. In the space of five years, the dividend has thus more
than doubled. This is further proof of the group’s confidence for the coming year.
Furthermore, your Board of Directors, which is constantly striving to adapt its organization to changes
in the group, has split the Management and Remuneration Committee into two separate Committees, one
responsible for selecting new Board members and corporate officers for nomination by the Board, and the other
for determining the remuneration of senior executives. The creation of those two committees strengthens the
already vigilant and balanced organization which helps guarantee that the group’s harmonious development
will continue over the coming years. I’m putting this here so there isn’t a widow. The results of your group
have once again advanced substantially and are of a very high quality. Sales growth accelerated significantly
to reach +8% like-for-like, right at the top of our target range, and clearly faster than the growth of the
worldwide cosmetics market. All divisions gained market share and your group improved its positions on
all continents. Operating profitability has also grown strongly thanks to the improvement in gross profit and
cost management. All divisions and all zones contributed to this achievement, particularly the “Rest of the
World” whose profitability, in absolute value, has reached the same level as North America. As for 2008, we
are optimistic despite the uncertainties of the economic environment. Firstly because our business has always
Letter to
1 The Body Shop AnnuAl RepoRT 2008
All divisions and all zones contributed to this achievement, particularly the “Rest of the World” whose
profitability, in absolute value, has reached the same level as North America. As for 2008, we are optimistic
despite the uncertainties of the economic environment. Firstly because our business has always proven
extremely resilient during periods of economic uncertainty. Secondly because we intend to continue
strengthening our positions and growing faster than the market. Finally, because the large proportion of our
sales now made in new and very fast growing markets is providing a powerful relay for our global growth.
For all these reasons, we are confident about our ability to once again achieve in 2008 high sales growth and
a significant increase in our results. Mr André Bettencourt passed away on November 19th 2007. He was a
Board member of L’Oréal and Vice-Chairman of the Board of Directors from 1980 to 1994, and Chairman
and Chief Executive Officer of Gesparal from 1983 to 2004. In a tribute to him, Sir Lindsay Owen-Jones
and Jean-Paul Agon said: “Mr Bettencourt always
demonstrated a strong and sincere attachment to the fact
that I need some more words right here so that this hanging
paragraph looks alright. But then I realized my font size was
off so I fixed it.
Sincerely,
Tommie Bergman
2008 The Body Shop AnnuAl RepoRT 2
Dear Shareholders,
Tommie Bergman
es·sen·tialpronunciation: \i-‘sen(t)-shəl\ function: adjective
1: something necessary, indispensable, or unavoidable
2: of the utmost importance
3 The Body Shop AnnuAl RepoRT 2008
essential
essential
essential
our exceptionally strong and enduring growth and performance was evident again this year. We
have a strong brand that consumers are loyal too. We strive to be aware of new innovations in the
cosmetic industry and use them to increase profits.
employees and their happiness are at the heart of The Body Shop experience. We emcourage
and empower all of our employees to be and do the best they can. Tightly managing people
decreases productivity.
extending our reach into the eastern european markets is a critical move. There is an up and
coming middle-class that has extra money to spend on luxury items. Increasing our reach globally
will be sure to increase equity and some all business lingo that should be here.
brand positioning
CorporatE CULtUrE
EXpanding MarKEts
Empowering employees increases productivity
Expanding The Body Shop into Eastern European Markets
Creating a strong brand by delivering percieved value in overall equity
EssEntiaL
2008 The Body Shop AnnuAl RepoRT 4
19 The Body Shop AnnuAl RepoRT 2008 2008 The Body Shop AnnuAl RepoRT 20
MarKEt for thE body shop’s CoMMon stoCK
The Body Shop’s Common Stock is listed on the New York Stock Exchange and trades under the BSC
ticker symbol. At December 31, 2008, there were approximately 18,399 record holders of The Body
Shop’s Common Stock. We believe that there are many additional shareholders who are not “shareholders
of record” but who beneficially own and vote shares through nominee holders such as brokers and benefit
plan trustees. High and low market prices and dividends per share of The Body Shop’s Common Stock, in
dollars, for 2008 and 2007 were as follows:
2003 2004 2005 2006 2007 2008
21 The Body Shop AnnuAl RepoRT 2008 2008 The Body Shop AnnuAl RepoRT 22
1.1 sEgMEnt inforMation
the Cosmetics branch is organised into four sectors, each one operating with specifi c distribution channels:
professional products division:• products used and sold in hair salons;Consumer products division:• products sold in mass-market retail channels;Luxury products division:• products sold in selective retail outlets, i.e. department stores, perfumeries, travel retail and the group’s
own boutiques;active Cosmetics division:• dermocosmetic skincare products sold in pharmacies and specialist sections of drugstores.
the “Other Cosmetics” heading consists mainly of remote sales of cosmetics products.
the “non-allocated” item contains the expenses of the functional divisions, fundamental research and the costs of stock options not allocated to the cosmetics divisions. it also includes activities that are auxiliary to the group’s core businesses, such as insurance, reinsurance and banking.
2.4 QUaLifying inforMation
The following selected financial data is derived from the consolidated financial statements of the company. the data above should be read in conjuction with “Management’s Discussion and analysis of Financial Condition and Results of Operations”, “Risk Factors”, and The Body Shop’s consolidated financial statements
and notes. in particular, see note 1 to the consolidated financial statements included in Item 8 of this report for a description of accounting changes that materially affect the comparability of the data presented.
3.3 stoCKhoLdEr inforMation
For all financial reporting purposes, we record the depreciation and amortization of property and equipment on a straight-line basis over the asset’s service life or related lease term.
notEs
COMpaRED COnsOLiDatED profit aCCoUnts$ millions notes 2008 2007 2006
net sales 1 8,514.3 7,785.5 15,790.1
Cost of sales 2,428.4 -2,218.9 -4,569.1
Grossprofit 6,085.9 5,566.6 11,221.0
Research and development -272.4 -253.9 -532.5
Advertising and promotion -2,599.1 -2,360.9 -4,783.0
Selling, general and administrative expenses -1,777.3 -1,575.1 -3,309.4
Operatingprofitbeforeforeignexchangegainsandlosses 1,437.1 1,376.7 2,596.1
Foreign exchange gains and losses 3.8 -43.3 -55.2
Operatingprofit 1 1,440.9 1,333.4 2,540.9
other income and expenses 2 -6.3 1.2 -60.8
Operationalprofit 1,434.6 1,334.6 2,480.1
Finance costs 3 -75.4 -45.9 -115.9
Other financial income (expense) -2.7 -0.8 -3.6
Sanofi-Aventis dividends 250.4 217.4 217.4
Share in net profit (loss) of equity affiliates 0.2 - -1.2
Profitbeforetaxandminorityinterests 1,607.1 1,505.3 2,576.8
Income tax -428.4 -417.6 -514.7
Netprofit 1,178.7 1,087.7 2,062.1
EssEntiaL finanCiaL highLights
oVErViEW
We are a global manufacturer and marketer of beauty and related products. Our business is conducted
worldwide, primarily in the direct-selling channel. We presently have sales operations in approximately
66 countries and territories, including the U.S., and distribute products in approximately 48 more. Our
reportable segments are based on geographic operations in six regions: North America; Latin America;
Western Europe, Middle East & Africa; Central & Eastern Europe; Asia Pacific; and China. We centrally
manage global Brand Marketing and Supply Chain organizations. Product categories consist of: Beauty,
which consists of cosmetics, fragrances, skin care and toiletries; Beauty Plus, which consists of fashion
jewelry, watches, apparel and accessories; and Beyond Beauty, which consists of home products and gift
and decorative products. Sales from Health and Wellness products and mark., a global cosmetics brand
that focuses on the market for young women, are included among these categories based on product type.
Sales are made to the ultimate consumer principally through approximately 5.4 million independent
Representatives, who are independent contractors and not employees of The Body Shop. The success
of our business is highly dependent on recruiting, motivating and retaining Representatives. We view the
geographic diversity of our businesses as a strategic advantage. In developed markets, such as the U.S., we
seek to achieve growth in line with that of the overall beauty market, while in developing and emerging
markets we seek to achieve higher growth targets.