COMPANY UPDATE

7/5/12

Exhibit 99.5

COMPANY UPDATE

•

On July 5, 2012, LaCrosse Footwear, Inc entered into a definitive

agreement to be acquired by ABC-MART, INC, Japan’s leading

retailer of athletic, business and casual footwear.

•

Shareholders will receive $20 cash per share for a total

transaction value of approximately $138

million.

•

The transaction is expected to close in the third quarter of 2012.

•

LaCrosse will become a wholly-owned U.S. subsidiary of ABC-

MART and will continue to be headquartered in Portland, Oregon.

•

The company will remain focused on its 2012 key initiatives and

commitment to serving our customers and markets as always.

•

LaCrosse and ABC-MART will collaborate on casual and lifestyle

offerings worldwide, without losing focus on our core work and

outdoor markets in the US.

WHO IS ABC-MART?

•

ABC-MART is a publically traded company on the Japanese stock

exchange (TSE: 2670) and has been a valued customer of our

iconic American-made products for several years.

•

The company is a leading footwear retailer based in Tokyo with

more than 800 stores throughout Japan, Taiwan and South

Korea.

•

2011 annual revenues were $1.8 billion.

•

In addition to operating as a retailer, they are the Japanese

distributor for the Vans, Sperry Top-Sider and Saucony brands.

•

They recognize the value of our authentic, premium brands and

see the opportunity for our continued growth and success in

partnership with their company. 

•

They also own brands such as Hawkins and Nuovo, develop in-

house footwear, and sell affordable high-quality shoes.

ABC-MART STORES

WHY ABC-MART AND LFI?

•

Combine the strengths of LaCrosse Footwear’s premium brands,

with ABC-MART’s extensive knowledge in the retail industry. 

•

Strengthen LaCrosse Footwear’s lifestyle and casual product

offering, by jointly developing and producing footwear with

competitive quality, pricing, and design.

•

Drive the geographic expansion of LaCrosse and Danner branded

footwear, particularly in Japan, South Korea, Taiwan, Hong Kong,

and the rest of Asia, as well as in Europe.

•

Build on the strength of our domestic business today.  ABC-MART

supports our ongoing efforts to bring our performance-driven,

premium quality products to the work and outdoor markets.

WHAT DOES THIS MEAN FOR LFI?

•

Partnering with ABC-MART creates clear benefits for LaCrosse

Footwear’s customers, suppliers and employees

–

Commitment to furthering LaCrosse Footwear’s growth

strategies in the global marketplace. 

–

Significant opportunities in our new lifestyle and casual

offerings

–

Solid financial and strategic commitment to support our

ongoing business serving the work and outdoor markets. 

–

Ability to leverage our world-class manufacturing facility in

Portland, Oregon, meeting growing demand for American-

made products around the world. 

ABC-MART MESSAGING

FREQUENTLY ASKED QUESTIONS

Q: What is the joint vision for the company going forward? 

A: It is our common belief between ABC-MART and us that LFI has the potential to be

recognized and valued globally. We share a vision of becoming a global manufacturer

and retailer by increasing sales overseas.

Q: What changes should we anticipate as an organization? 

A: We and ABC-MART share the common understanding that there is no plan in place to

make

drastic

changes

to

the

organization

for

some

time

after

the

transaction,

particularly

with regards to the US operations.  That being said, we will need to further consider and

discuss with ABC-MART what changes will be appropriate for the company to be in the

best position to increase overseas sales.

Q: How will this transaction impact our US manufacturing, including military business?

A: This transaction is a positive move for our company and should impact the existing

business positively.  We plan to continue our business with the military, and with the

expected increase in sales volume of lifestyle and fashion business, we anticipate the US

manufacturing facilities to be utilized at a greater production capacity.

FREQUENTLY ASKED QUESTIONS

Q: Will LFI continue to run as a stand-alone business?

A: Yes, LFI will continue to run as a stand-alone business

Q:

Will

there

be

changes

to

the

brand

positioning,

product

offerings?

A:

ABC-MART

recognizes

the

importance

of

maintaining

the

positioning

of

Danner

and

LaCrosse as premium brands.  In terms of the product offering, we plan to continue

providing

products

that

address

the

needs

of

American

consumers.

In

addition,

we

hope

to

broaden

our

product

offering

by

developing

products

that

will

satisfy

the

tastes

of the various regions that we serve, or hope to serve, to realize our goal of becoming a

global presence.

Q: What is the schedule of closing?

A: The transaction is expected to close in the third quarter of 2012.

FREQUENTLY ASKED QUESTIONS

Q: How will this affect our US customers, suppliers? 

A: Our management and sales teams will visit as many of our key customers and

suppliers as possible in the coming weeks to ensure that there will be no effect in our

existing relationships. We will continue to provide the high-quality products that our

customers

have

come

to

expect

from

us,

and

to

hold

our

suppliers

to

high-standards.

We

will also continue to invest in product development.

Q: How will this affect our Asia, Europe and Canada customers, suppliers, distributors?

A: A significant portion of the value of the transaction comes from the synergies realized

by leveraging ABC-MART’s wide and established platform in Japan and Korea.

Therefore, the Japanese and Korean operations will be reorganized so that ABC-MART

will be directly involved and lead the business in Japan and Korea in the early stages of

the integration process. As for the other regions, we will reevaluate the current situation,

and execute the best course of action for our joint entity.

FAQ (EMPLOYEES)

Q: How does the transaction affect compensation, incentive compensation, stock options

and other benefits?

A:  Your current compensation should be kept as it is for some time except for stock

options. After the completion of this transaction, we will further discuss with ABC-MART

with the aim to provide certain competitive compensation packages to you, including

incentive plans and other benefits available for next fiscal year, which will be in line with

your current package.

Regarding stock options, assuming the successful completion of the tender offer, your

options

will

be

fully

vested

and

become

exercisable

immediately.

Before

successful

completion of the tender offer and to the extent not exercised prior to the completion of the

Merger, you will have the right to receive the difference between the $20 per share offer

price and the exercise price, subject to withholding taxes, of all your outstanding options

immediately prior to the completion of the Merger.

FAQ (EMPLOYEES)

Q: What’s going to happen to organizational structure?   Will there be changes to senior

management?

A: We and ABC-MART have reached the mutual understanding that the overall

organization, including senior management, will not see any major changes upon this

transaction and should be kept as they are for a while.  In order to expand our business

going forward, we and ABC-MART will continue to discuss to gain a better understanding

of our respective businesses going forward and will make appropriate decisions carefully.

Q: Will there be staff reductions? How will we continue to support the business?

A: We do not foresee any personnel reductions as a result of this transaction. We request

that you continue to focus on your day-to-day operations.

Q: Do you anticipate any changes to the LFI core values and culture of the company?

A: ABC-MART has tremendous respect for and deeply values the authenticity and

craftsmanship of LFI, and wishes to continue embracing its legacy. We hope to further

learn about and share our respective corporate cultures, and consider it an opportunity to

jointly heighten our values.

ABOUT THE TRANSACTION

NOTICE TO INVESTORS: This announcement is neither an offer to purchase nor a solicitation of an offer to sell securities.  The tender offer

for the outstanding shares of LaCrosse Footwear common stock described in the presentation has not commenced.  At the time the tender

offer is commenced, ABC-MART will file with the SEC and mail to the LaCrosse Footwear shareholders a tender offer statement on

Schedule TO and related exhibits, including the offer to purchase, letter of transmittal and other related documents and LaCrosse Footwear

will file with the SEC and mail to its shareholders a Tender Offer Solicitation/Recommendation Statement on Schedule 14D-9 in connection

with the transaction.  These materials will contain important information about ABC-MART, LaCrosse Footwear, the transaction and other

related matters.  Investors and securityholders are urged to carefully read each of these documents when they are available.  Investors and

securityholders will be able to obtain free copies of the Tender Offer Statement, the Tender Offer Solicitation and Recommendation

Statement, and other documents filed with the SEC by ABC-MART and LaCrosse Footwear through the website maintained by the SEC at 

respective investor relations departments of ABC-MART and LaCrosse Footwear at their respective e-mail addresses below.  

Forward-Looking Statements

www.sec.gov.

In

addition,

investors

and

securityholders

will

be

able

to

obtain

free

copies

of

all

of

these

materials

by

contacting

the

Statements in this presentation concerning the proposed acquisition of LaCrosse Footwear by ABC-MART, the expected timetable for

completing the transaction, expected long-term growth for the combined company, plans for geographic expansion in the global marketplace

and any other statements about ABC-MART or LaCrosse Footwear managements’ future expectations, beliefs, goals, plans or prospects

constitute forward-looking statements.  For further information concerning forward-looking statements, please read the disclosure under the

heading “Forward Looking Statements” in LaCrosse Footwear’s Annual Report on Form 10-K for the year ended December 31, 2011 which has

been filed with the SEC.  Any statements that are not statements of historical fact (including any statements containing the words “believe”,

“plans”, “anticipates”, “expects”, “estimates”, and similar expressions) should also be considered forward-looking statements. Investors are

cautioned that all forward-looking statements involve risks and uncertainties and actual results could differ materially from those in the forward-

looking statements.  Factors that could cause actual results to differ from these forward-looking statements include, but are not limited to,

conditions affecting the industries in which ABC-MART and LaCrosse Footwear operate, the possibility that certain conditions to the offer and

the merger and to consummate the transactions will not be met, the ability of ABC-MART to successfully integrate LaCrosse’s operations and

employees, and other factors found under the heading “Risk Factors” in the LaCrosse Footwear Annual Report on Form 10-K for the year

ended December 31, 2011.  The forward-looking statements contained in this presentation speak only as of the date on which they are made

and, except as required by law, neither ABC-MART nor LaCrosse Footwear express any intention or undertake any obligation to update any

forward-looking statements to reflect events or circumstances after the date of this presentation.

INVESTOR CONTACTS

ABC-MART, INC.

Jo Kojima, Director and Manager

Corporate Planning Office

+81-3-3476-5452

/

ir_info@abc-mart.co.jp

LaCrosse Footwear, Inc.

David Carlson, Executive Vice President and Chief Financial Officer

+1-503-262-0110 ext. 1331

or

StreetConnect, Inc.

Michael Newman

Investor Relations

+1-800-654-3517

/

BOOT@stct.com

COMPANY

PROFLE

ABC-MART,INC.

ABC-MART,INC.

July. 2012

July. 2012

ABC-MART

STORES

okinawa

674

stores

(End of Apr, 2012)

JAPAN

ABC-MART’s first store opened in Ueno Tokyo in 1990

Ueno is the market place which has many American

casual fashion concept stores

ABC-MART

We started by selling leather jackets, sneakers and boots

ABC-MART HISTORY

ABC-MART

Converted from wholesale model into retail model

NUMBER OF STORES

Our wholesale brands

VANS

HAWKINS

TOP

SIDER

saucony

ABC-MART

Shinjuku

ABC-MART

Ginza

ABC-MART

Myeongdong

KOREA

ABC-MART

Daehagro

KOREA

LARGER FORMAT STORES

APR

19

TH

OPEN

GS

DIVER CITY

ABOUT THE TRANSACTION

NOTICE

TO

INVESTORS:

This

announcement

is

neither

an

offer

to

purchase

nor

a

solicitation

of

an

offer

to

sell

securities.

The

tender

offer

for

the

outstanding

shares

of

LaCrosse

Footwear

common

stock

described

in

the

presentation

has

not

commenced.

At

the

time

the

tender

offer

is

commenced,

ABC-MART

will

file

with

the

SEC

and

mail

to

the

LaCrosse

Footwear

shareholders

a

tender

offer

statement

on

Schedule

TO

and

related

exhibits,

including

the

offer

to

purchase,

letter

of

transmittal

and

other

related

documents

and

LaCrosse

Footwear

will

file

with

the

SEC

and

mail

to

its

shareholders

a

Tender

Offer

Solicitation/Recommendation

Statement

on

Schedule

14D-9

in

connection

with

the

transaction. 

These

materials

will

contain

important

information

about

ABC-MART,

LaCrosse

Footwear,

the

transaction

and

other

related

matters.

Investors

and

securityholders

are

urged

to

carefully

read

each

of

these

documents

when

they

are

available.

Investors

and

securityholders

will

be

able

to

obtain

free

copies

of

the

Tender

Offer

Statement,

the

Tender

Offer

Solicitation

and

Recommendation

Statement,

and

other

documents

filed

with

the

SEC

by

ABC-MART

and

LaCrosse

Footwear

through

the

website

maintained

by

the

SEC

at

www.sec.gov.

In

addition,

investors

and

securityholders

will

be

able

to

obtain

free

copies

of

all

of

these

materials

by

contacting

the

respective

investor

relations

departments

of

ABC-

MART

and

LaCrosse

Footwear

at

their

respective

e-mail

addresses

below.  

Forward-Looking

Statements

Statements

in

this

presentation

concerning

the

proposed

acquisition

of

LaCrosse

Footwear

by

ABC-MART,

the

expected

timetable

for

completing

the

transaction,

expected

long-term

growth

for

the

combined

company,

plans

for

geographic

expansion

in

the

global

marketplace

and

any

other

statements

about

ABC-MART

or

LaCrosse

Footwear

managements’

future

expectations,

beliefs,

goals,

plans

or

prospects

constitute

forward-looking

statements.

For

further

information

concerning

forward-looking

statements,

please

read

the

disclosure

under

the

heading

“Forward

Looking

Statements”

in

LaCrosse

Footwear’s

Annual

Report

on

Form

10-K

for

the

year

ended

December

31,

2011

which

has

been

filed

with

the

SEC.

Any

statements

that

are

not

statements

of

historical

fact

(including

any

statements

containing

the

words

“believe”,

“plans”,

“anticipates”,

“expects”,

“estimates”,

and

similar

expressions)

should

also

be

considered

forward-looking

statements.

Investors

are

cautioned

that

all

forward-looking

statements

involve

risks

and

uncertainties

and

actual

results

could

differ

materially

from

those

in

the

forward-

looking

statements.

Factors

that

could

cause

actual

results

to

differ

from

these

forward-looking

statements

include,

but

are

not

limited

to,

conditions

affecting

the

industries

in

which

ABC-MART

and

LaCrosse

Footwear

operate,

the

possibility

that

certain

conditions

to

the

offer

and

the

merger

and

to

consummate

the

transactions

will

not

be

met,

the

ability

of

ABC-MART

to

successfully

integrate

LaCrosse’s

operations

and

employees,

and

other

factors

found

under

the

heading

“Risk

Factors”

in

the

LaCrosse

Footwear

Annual

Report

on

Form

10-K

for

the

year

ended

December

31,

2011.

The

forward-looking

statements

contained

in

this

presentation

speak

only

as

of

the

date

on

which

they

are

made

and,

except

as

required

by

law,

neither

ABC-MART

nor

LaCrosse

Footwear

express

any

intention

or

undertake

any

obligation

to

update

any

forward-looking

statements

to

reflect

events

or

circumstances

after

the

date

of

this

presentation.

.

INVESTOR CONTACTS

ABC-MART, INC.

Jo Kojima, Director and Manager

Corporate Planning Office

+81-3-3476-5452

/

ir_info@abc-mart.co.jp

LaCrosse Footwear, Inc.

David Carlson, Executive Vice President and Chief Financial Officer

+1-503-262-0110 ext. 1331

or

StreetConnect, Inc.

Michael Newman

Investor Relations

+1-800-654-3517

/

BOOT@stct.com