If a company's actual results for revenues, net profits, EPS, and ROE turn out to be worse than projected, then it is usually because

company mangers failed to put enough emphasis on boosting the company's S$/$Q rating and increasing expenditures for brand advertising in most or all of the four geographic regions.

company managers failed to do a good enough job of lowering the company's per pair costs of branded footwear sold.

of some combination of three factors: $(1)$ the company's product offering included too few models$/$styles of branded footwear, and$/$or $(2)$ a number of rival companies unexpectedly stole sales and market by suddenly deciding to offer online buyers free Shapping, and$/$or $(3)$ a number of rival firms boosted the compensation of production workers to unexpectedly high levels $($which had the effect of reducing the company's expected gains in labor productivity and resulted in higher$-$than$-$expected labor costs per pair produced$).$

the number of models$/$styles that company managers decided to make available for sale in the various geographic regions for branded footwear was, on balance, below the average number of models$/$styles offered by rival companies.

the competitive efforts exerted by rival companies to capture sales and market share for themselves in one or more geographic regions proved stronger than company managers anticipated, given the updates of the regional$-$average competitive efforts that company managers made $($or failed to make$)$ in the Competitive Assumptions boxes on the Internet Marketing and Wholesale Marketing decision screens, thus resulting in the projections of the company's profitability and overall performance being too optimistic.