Dick's Sporting Goods 2010 Annual Report Download - page 23

Forward-Looking Statements
We caution that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of
1995) contained in this Annual Report on Form 10-K or made by our management involve risks and uncertainties and are subject
to change based on various important factors, many of which may be beyond our control. Accordingly, our future performance and
financial results may differ materially from those expressed or implied in any such forward-looking statements. Investors should
not place undue reliance on forward-looking statements as a prediction of actual results. You can identify these statements as
those that may predict, forecast, indicate or imply future results, performance or advancements and by forward-looking words
such as “believe”, “anticipate”, “expect”, “estimate”, “predict”, “intend”, “plan”, “project”, “goal”, “will”, “will be”, “will continue”, “will
result”, “could”, “may”, “might” or any variations of such words or other words with similar meanings. Forward-looking statements
address, among other things, our expectations, our growth strategies, including our plans to open new stores, our efforts to
increase profit margins and return on invested capital, plans to grow our private brand business, projections of our future
profitability, results of operations, capital expenditures, our financial condition or other “forward-looking” information and include
statements about revenues, earnings, spending, margins, costs, liquidity, store openings and operations, inventory, private brand
products, our actions, plans or strategies.
The following factors, among others, in some cases have affected and in the future could affect our financial performance and
actual results, and could cause actual results for fiscal 2011 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:
•Continuation of the recent economic and financial downturn may cause a continued decline in consumer spending, and other
changes in macroeconomic factors or market conditions, including the housing market and fuel costs, may adversely impact
the level of consumer spending for the types of merchandise we sell;
•Changes in general economic and business conditions and in the specialty retail or sporting goods industry in particular;
•Our quarterly operating results and same store sales may fluctuate substantially;
•Potential volatility in our stock price;
•Our ability to access adequate capital, which may be affected by a tightening of availability or higher borrowing costs
resulting from uncertainty in financial markets or by restrictions imposed under our senior secured revolving credit
agreement;
•The intense competition in the sporting goods industry;
•The recent financial and economic crisis may adversely affect our landlords and real estate developers of retail space, which
may limit the availability of attractive store locations and affect our ability to grow our number of stores; further, a lack of
available retail store sites on terms acceptable to us, an increase in the cost of real estate and other items related to our
stores or our inability to manage our growth, open new stores on a timely basis or expand successfully in new and existing
markets could negatively impact our business;
•Changes in consumer demand;
•Unauthorized disclosure of sensitive, personal or confidential information;
•Disruptions in our or our vendors’ supply chain, including as a result of political instability, foreign trade issues, the impact
of the recent economic or financial downturn on distributors or other reasons;
•Our relationships with our vendors, including potential increases in the costs of their products and our ability to pass those
cost increases on to our customers, their ability to maintain their inventory and production levels and their ability or
willingness to provide us with sufficient quantities of products at acceptable prices;
•Factors that could negatively affect our private brand offerings, including fluctuations in the cost of products resulting from
increases in raw material prices and other factors, reliance on foreign sources of production, compliance with government
and industry safety standards, and intellectual property risks;
•Risks and costs relating to the products we sell, including: product liability claims and the availability of recourse to third
parties, including under our insurance policies; product recalls; and the regulation of and other hazards associated with
certain products we sell, such as hunting rifles and ammunition;
•The loss of our key executives, especially Edward W. Stack, our Chairman and Chief Executive Officer;
Dick’s Sporting Goods, Inc. ¬2010 Annual Report 3