Neiman Marcus 2003 Annual Report Download - page 26

OTHER MATTERS
Factors That May Affect Future Results
Matters discussed in MD&A include forward-looking statements. These forward-looking statements are made based on
management's expectations and beliefs concerning future events, as well as on assumptions made by and data currently available to
management. 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 the Company's actual results to differ materially from the anticipated or expected
results expressed in these 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;
• terrorist activities in the United States;
• political, social, economic, or other events resulting in the short or long-term disruption in business at the Company's 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 that are, or are perceived to be,
"luxuries";
• changes in consumer preferences or fashion trends;
• changes in the Company's relationships with its key customers;
• changes in the Company's proprietary credit card arrangement that adversely impact its ability to provide consumer credit;
Merchandise Procurement and Supply Chain Considerations
• changes in the Company's relationships with designers, vendors and other sources of merchandise, including adverse changes in
their financial viability;
• delays in receipt of merchandise ordered by the Company due to work stoppages and/or other causes of delay in connection with
either the manufacture or shipment of such merchandise;
• changes in foreign currency exchange rates;
• significant increases in paper, printing and postage costs;
Industry and Competitive Factors
• competitive responses to the Company's marketing, merchandising and promotional efforts and/or inventory liquidations by
vendors or other retailers;
• seasonality of the retail business;
• adverse weather conditions or natural disasters, particularly during peak selling seasons;
• natural disasters;
• delays in anticipated store openings and renovations;
Employee Considerations
• changes in key management personnel;
• changes in the Company's relationships with certain of its key sales associates;
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