Barnes and Noble 2002 Annual Report Download - page 24

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In January 2003, the FASB issued Interpretation No.
46 “Consolidation of Variable Interest Entities”
(Interpretation 46). Interpretation 46 clarifies the
application of Accounting Research Bulletin No. 51
“Consolidated Financial Statements”, and applies
immediately to any variable interest entities created after
January 31, 2003 and to variable interest entities in
which an interest is obtained after that date. The
Company holds no interest in variable interest entities.
DISCLOSURE REGARDING
FORWARD-LOOKING STATEMENTS
This report may contain certain forward-looking
statements (as such term is defined in the Private
Securities Litigation Reform Act of 1995) and
information relating to the Company that are based on
the beliefs of the management of the Company as well as
assumptions made by and information currently
available to the management of the Company. When
used in this report, the words “anticipate,” “believe,”
“estimate,” “expect,” “intend,” “plan” and similar
expressions, as they relate to the Company or the
management of the Company, identify forward-looking
statements. Such statements reflect the current views of
the Company with respect to future events, the outcome
of which is subject to certain risks, including among
others general economic and market conditions, decreased
consumer demand for the Company’s products, possible
disruptions in the Company’s computer or telephone
systems, possible work stoppages or increases in labor
costs, possible increases in shipping rates or interruptions
in shipping service, effects of competition, possible
disruptions or delays in the opening of new stores or the
inability to obtain suitable sites for new stores, higher-
than-anticipated store closing or relocation costs, higher
interest rates, the performance of the Company’s online
initiatives such as Barnes & Noble.com, the performance
and successful integration of acquired businesses,
the success of the Company’s strategic investments,
unanticipated increases in merchandise or occupancy
costs, unanticipated adverse litigation results or effects,
and other factors which may be outside of the
Company’s control. In addition, the video-game market
has historically been cyclical in nature and dependent
upon the introduction of new generation systems and
related interactive software. Should one or more of these
risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results or outcomes
may vary materially from those described as anticipated,
believed, estimated, expected, intended or planned.
Subsequent written and oral forward-looking statements
attributable to the Company or persons acting on its
behalf are expressly qualified in their entirety by the
cautionary statements in this paragraph.
23
2002 Annual Report Barnes & Noble, Inc.
[MANAGEMENT’S DISCUSSION AND
ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS continued ]