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Just For Fet Case

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Just For Feet made its initial public offering in 1994. Ruttenberg used the funds produced by Just for Feet’s initial public offering to pursue an aggressive expansion program. In 1995, Just for Feet’s common stock was tempered somewhat by an accounting controversy involving “store opening” costs. There was criticism of Just for Feet’s accounting for store opening costs goaded company management to adopt the industry convention, which resulted in the company recording a $2.1 million cumulative effect of a change in accounting principle during fiscal 1996. In 1999, Harold Ruttenberg unexpectedly resigned as Just for Feet’s CEO. The company replaced Ruttenberg with Helen Rockey. In November 1999, the company filed for Chapter 11 bankruptcy protection

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