Estee Lauder 2011 Annual Report Download - page 118

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116 THE EST{E LAUDER COMPANIES INC.
(11) shipment delays, depletion of inventory and
increased production costs resulting from disruptions of
operations at any of the facilities that manufacture nearly
all of our supply of a particular type of product (i.e. focus
factories) or at our distribution or inventory centers,
including disruptions that may be caused by the imple-
mentation of SAP as part of our Strategic Modernization
Initiative or by restructurings;
(12) real estate rates and availability, which may affect
our ability to increase or maintain the number of retail
locations at which we sell our products and the costs
associated with our other facilities;
(13) changes in product mix to products which are less
profitable;
(14) our ability to acquire, develop or implement new
information and distribution technologies and initiatives
on a timely basis and within our cost estimates;
(15) our ability to capitalize on opportunities for improved
efficiency, such as publicly-announced strategies and
restructuring and cost-savings initiatives, and to integrate
acquired businesses and realize value there from;
(16) consequences attributable to the events that are
currently taking place in the Middle East, as well as from
any terrorist action, retaliation and the threat of further
action or retaliation;
(17) the timing and impact of acquisitions and divesti-
tures, which depend on willing sellers and buyers,
respectively; and
(18) additional factors as described in our filings with the
Securities and Exchange Commission, including this
Annual Report on Form 10-K for the fiscal year ended
June 30, 2011.
We assume no responsibility to update forward-looking
statements made herein or otherwise.