Neiman Marcus 2005 Annual Report Download - page 50
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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;
• our success in enforcing our intellectual property rights;
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