Big Lots 2010 Annual Report Download - page 80

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6
“plan,” “believe,” “will,” “should,” “may,” “target,” “forecast,” “guidance,” “outlook,” and similar expressions
in connection with any discussion of future operating or financial performance. In particular, forward-
looking statements include statements relating to future actions, future performance, or results of current
and anticipated products, sales efforts, expenses, interest rates, the outcome of contingencies, such as legal
proceedings, and financial results.
We cannot guarantee that any forward-looking statement will be realized. Achievement of future results is
subject to risks, uncertainties, and potential inaccurate assumptions. Should known or unknown risks or
uncertainties materialize, or should underlying assumptions prove inaccurate, actual results could differ
materially from past results and those anticipated, estimated, or projected results set forth in the forward-
looking statements. You should bear this in mind as you consider forward-looking statements.
You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date
thereof. We undertake no obligation to publicly update forward-looking statements, whether as a result of
new information, future events, or otherwise. You are advised, however, to consult any further disclosures we
make on related subjects in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with
the SEC.
Also note that we provide the following cautionary discussion of risks, uncertainties, and assumptions relevant
to our businesses. There can be no assurances that we have correctly and completely identified, assessed, and
accounted for all factors that do or may affect our business, financial condition, results of operations, and
liquidity. These are factors that, individually or in the aggregate, we think could cause our actual results to
differ materially from expected and historical results. Additional risks not presently known to us or that we
presently believe to be immaterial also may adversely impact us. Should any risks or uncertainties develop into
actual events, these developments could have material adverse effects on our business, financial condition,
results of operations, and liquidity. Consequently, all of the forward-looking statements are qualified by these
cautionary statements, and there can be no assurance that the results or developments we anticipate will be
realized or that they will have the expected effects on our business or operations. We note these factors for
investors as permitted by the Private Securities Litigation Reform Act of 1995. You should understand that it is
not possible to predict or identify all such factors. Consequently, you should not consider the following to be a
complete discussion of all potential risks or uncertainties.
Our ability to achieve the results contemplated by forward-looking statements is subject to a number of
factors, any one, or a combination, of which could materially affect our business, financial condition, results of
operations, or liquidity. These factors may include, but are not limited to:
The current economic conditions (including commodity price fluctuations, bankruptcies, and reduced
access to credit) give rise to risks and uncertainties that may adversely affect our capital resources, financial
condition, results of operations, and liquidity including, but not limited to the following:
• Fluctuating commodity prices, including but not limited to diesel fuel and other fuels used to
generate power by utilities, may affect our gross profit and operating profit margins.
• Our vendors may be negatively impacted by current economic conditions due to insufficient
availability of credit to fund their operations or insufficient demand for their products, which may
affect their ability to fulfill their obligations to us.
• Our expectations regarding the demand for our merchandise may be inaccurate, which could cause
us to under buy or over buy certain categories or departments of merchandise, which could result in
customer dissatisfaction or require excessive markdowns to sell through the merchandise.
• The reaction of our competitors to the marketplace, including the level of liquidations occurring at
bankrupt retailers, may drive our competitors, some of whom are better capitalized than us, to offer
significant discounts or promotions on their merchandise, which could negatively affect our sales and
profit margins.