Dick's Sporting Goods 2008 Annual Report Download - page 40

things, our expectations, our growth strategies, including our plans to open new stores, our efforts to increase profi t margins and
return on invested capital, plans to grow our private label business, projections of our future profi tability, results of operations, capital
expenditures or our fi nancial condition or other “forward-looking” information and includes statements about revenues, earnings,
spending, margins, costs, liquidity, store openings and operations, inventory, private label products, our actions, plans or strategies.
The following factors, among others, in some cases have affected and in the future could affect our fi nancial performance and actual
results and could cause actual results for fi scal 2009 and beyond to differ materially from those expressed or implied in any forward-
looking statements included in this report or otherwise made by our management: the current economic and fi nancial downturn may
cause a continued decline in consumer spending; changes in macroeconomic factors and market conditions, including the housing
market and fuel costs, that impact the level of consumer spending for the types of merchandise sold by the Company; changes in
general economic and business conditions and in the specialty retail or sporting goods industry in particular; our quarterly operating
results and comparable store sales may fl uctuate substantially; potential volatility in our stock price; our ability to access adequate
capital and the tightening of availability and higher costs associated with current and new sources of credit resulting from
uncertainty in fi nancial markets; the intense competition in the sporting goods industry and actions by our competitors; the
availability of retail store sites on terms acceptable to us, the cost of real estate and other items related to our stores, our inability to
manage our growth, open new stores on a timely basis and expand successfully in new and existing markets; changes in consumer
demand; unauthorized disclosure of sensitive or confi dential information; risks and costs relating to product liability claims and the
availability of suffi cient insurance coverage relating to those claims and risks relating to the regulation of the products we sell,
such as hunting rifl es and ammunition; our relationships with our suppliers, distributors and manufacturers and their ability to
provide us with suffi cient quantities of products and risks associated with relying on foreign sources of production; the loss of our
key executives, especially Edward W. Stack, our Chairman and Chief Executive Offi cer; currency exchange rate fl uctuations; costs
and risks associated with increased or changing laws and regulations affecting our business, including those relating to the sale
of consumer products; risks relating to e-commerce; risks relating to problems with or disruption of our current management
information systems; any serious disruption at our distribution or return facilities; the seasonality of our business; regional risks
because our stores are generally concentrated in the eastern half of the United States; the outcome of litigation or legal actions
against us; risks relating to operational and fi nancial restrictions imposed by our senior secured revolving credit agreement; factors
associated with our pursuit of strategic acquisitions and risks, costs and uncertainties associated with combining business and/or
assimilating acquired companies; our ability to meet our labor needs; we are controlled by our Chief Executive Offi cer and his
relatives, whose interests may differ from our stockholders; risks related to the economic impact or the effect on the U.S. retail
environment relating to instability and confl ict in the Middle East or elsewhere; various risks associated with our exclusive brand
offerings; our current anti-takeover provisions could prevent or delay a change-in-control of the Company; impairment in the
carrying value of goodwill or other acquired intangibles; changes in our business strategies and other factors discussed in other
reports or fi lings fi led by us with the Securities and Exchange Commission.
In addition, we operate in a highly competitive and rapidly changing environment; therefore, new risk factors can arise, and it is not
possible for management to predict all such risk factors, nor to assess the impact of all such risk factors on our business or the
extent to which any individual risk factor, or combination of factors, may cause results to differ materially from those contained in
any forward-looking statement. We do not assume any obligation and do not intend to update any forward-looking statements except
as may be required by the securities laws.
On February 13, 2007, Dick’s Sporting Goods, Inc. (“Dick’s”) acquired Golf Galaxy, Inc. (“Golf Galaxy”), which became a wholly-owned
subsidiary of Dick’s by means of a merger of Dick’s subsidiary with and into Golf Galaxy. On November 30, 2007, Dick’s acquired all
of the outstanding stock of Chick’s Sporting Goods, Inc. (“Chick’s”), which also became a wholly-owned subsidiary of Dick’s. Due to
these acquisitions, additional risks and uncertainties arise that could affect our fi nancial performance and actual results and could
cause actual results for fi scal 2009 and beyond to differ materially from those expressed or implied in any forward-looking
statements included in this report or otherwise made by our management. Such risks, which are diffi cult to predict with a level
of certainty and may be greater than expected, include, among others, risk and costs associated with combining businesses and/or
with assimilating acquired companies (including our ability to estimate future integration costs related to the integration of the
operations and achieving expected future costs savings from the integration).
DICK’S SPORTING GOODS, INC. 2008 ANNUAL REPORT
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