Hibbett Sports 2005 Annual Report Download - page 29

MANAGEMENT’S DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERAT I O N S
Special Note Regarding Forward-Looking Statements
This document contains “forward-looking statements” as that term is used in the Private Securities Litigation
Reform Act of 1995. Forward-looking statements address future events, developments and results. They include
statements preceded by, followed by or including words such as “believe,” “anticipate,” “expect,” “intend,”
“plan,” “target” or “estimate.” For example, our forward-looking statements include statements regarding:
• our anticipated sales, including comparable store net sales, net sales growth and earnings growth;
• our growth, including our plans to add, expand or relocate stores and square footage growth;
• the possible effect of inflation and other economic changes on our costs and profitability;
• the possible effect of recent accounting pronouncements;
• our cash needs, including our ability to fund our future capital expenditures and working capital
requirements;
• our gross profit margin and earnings and our ability to leverage store operating, selling and
administrative expenses and offset other operating expenses;
• our seasonal sales patterns;
• the future reliability of, and cost associated with, our sources of supply, particularly imported goods;
• the capacity of our distribution center;
• our ability to renew or replace store leases satisfactorily; and
• our expectations regarding competition.
You should assume that the information appearing in this annual report is accurate only as of the date it
was issued. Our business, financial condition, results of operations and prospects may have changed
since that date.
For a discussion of the risks, uncertainties and assumptions that could affect our future events, develop-
ments or results, you should carefully review the “Risk Factors” described in our Annual Report on Form
10-K dated April 14, 2005, as well as “Management’s Discussion and Analysis of Financial Condition
and Results of Operations” contained herein.
Our forward-looking statements could be wrong in light of these and other risks, uncertainties and
assumptions. The future events, developments or results described in this report could turn out to be
materially different. We have no obligation to publicly update or revise our forward-looking statements
after the date of this annual report and you should not expect us to do so.
Investors should also be aware that while we do, from time to time, communicate with securities analysts
and others, we do not, by policy, selectively disclose to them any material nonpublic information or other
confidential commercial information. Accordingly, stockholders should not assume that we agree with any
statement or report issued by any analyst regardless of the content of the statement or report. We do
not, by policy, confirm forecasts or projections issued by others. Thus, to the extent that reports issued
by securities analysts contain any projections, forecasts or opinions, such reports are not our responsibility.
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