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FORWARD-LOOKING STATEMENTS
This annual report on Form 10-K contains certain “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities
Exchange Act of 1934 (the “Exchange Act”), which are based on management’s exercise of business judgment,
as well as assumptions made by and information currently available to management. When used in this
document, the words “may,” “will,” “anticipate,” “believe,” “estimate,” “expect,” “intend” and words of similar
import, are intended to identify any forward-looking statements. These forward-looking statements include,
among other things, statements relating to the following: HSNi’s future financial performance, HSNi’s business
prospects and strategy, anticipated trends and prospects in the various markets in which HSNi’s businesses
operate and other similar matters. These forward-looking statements relate to expectations concerning matters
that are not historical fact and are based on management’s current expectations and assumptions about future
events, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to
predict. Although we believe our expectations are based on reasonable estimates and assumptions, they are not
guarantees of performance.
Should one or more of these uncertainties, risks or changes in circumstances materialize, or should
underlying assumptions prove incorrect, our actual results could differ materially from those anticipated in these
forward-looking statements. Factors that could cause or contribute to such differences include but are not limited
to those described under “Risk Factors,” and the following:
• the influence of the macroeconomic environment and its impact on consumer confidence and spending
levels;
• changes in political, business and economic conditions, particularly those that affect consumer
confidence, consumer spending or digital growth;
• changes in our relationships with pay television operators, vendors, manufacturers and other third
parties;
• changes in product delivery costs particularly if we are unable to offset them;
• our ability to offer new or alternative products and services through various platforms in a cost
effective manner and consumer acceptance of these products and services;
• any technological or regulatory developments that could negatively impact the way we do business,
including regulations regarding state and local sales and use taxes;
• risks associated with possible systems failures and/or security breaches, including, any security breach
that results in the theft, transfer or unauthorized disclosure of customer, employee or company
information, or the failure to comply with various laws applicable to HSNi in the event of such a
breach;
• HSNi’s business prospects and strategy, including whether HSNi’s initiatives will be effective; and
• the loss of any key member of our senior management team.
Other unknown or unpredictable factors that could also adversely affect HSNi’s business, financial
condition and results of operations may arise from time to time.
You should not place undue reliance on these forward-looking statements. All written or oral forward-
looking statements that are made or are attributable to us are expressly qualified in their entirety by this
cautionary notice. Such forward-looking statements speak only to the date such statements are made and we do
not undertake to update, revise or otherwise publicly release any revisions to these forward-looking statements to
reflect events or circumstances after the date hereof, or to reflect the occurrence of any unanticipated events.
Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that
our expectations will materialize. Historical results should not be considered an indication of future performance.
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