Neiman Marcus 2004 Annual Report Download - page 43
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OTHER MATTERS
Factors That May Affect Future Results
Matters discussed in MD&A include forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking
terminology such as "may," "plan," "predict," "expect," "estimate," "intend," "would," "could," "should," "anticipate," "believe," "project" or "continue." We
make these forward-looking statements based on our expectations and beliefs concerning future events, as well as currently available data. These forward-
looking statements involve a number of risks and uncertainties and, therefore, are not guarantees of future performance. A variety of factors could cause our
actual results to differ materially from the anticipated or expected results expressed in our forward-looking statements. Factors that could affect future
performance include, but are not limited, to:
Political and General Economic Conditions
current political and general economic conditions or changes in such conditions including relationships between the United States and the
countries from which we source our merchandise;
terrorist activities in the United States and elsewhere;
political, social, economic, or other events resulting in the short- or long-term disruption in business at our stores, distribution centers or offices;
Customer Demographic Issues
changes in the demographic or retail environment;
changes in consumer confidence resulting in a reduction of discretionary spending on goods;
changes in consumer preferences or fashion trends;
changes in our relationships with key customers;
changes in our proprietary credit card arrangement that adversely impact the ability to provide credit to our customers;
Merchandise Procurement and Supply Chain Considerations
changes in our relationships with designers, vendors and other sources of merchandise, including adverse changes in their financial viability;
delays in receipt of merchandise ordered due to work stoppages or other causes of delay in connection with either the manufacture or shipment of
such merchandise;
changes in foreign currency exchange or inflation rates;
significant increases in paper, printing and postage costs;
Industry and Competitive Factors
competitive responses to our loyalty programs, marketing, merchandising and promotional efforts or inventory liquidations by vendors or other
retailers;
seasonality of the retail business;
adverse weather conditions or natural disasters, particularly during peak selling seasons;
delays in anticipated store openings and renovations;
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