Neiman Marcus 2012 Annual Report Download - page 44
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Table of Contents
arrangement or our failure to protect customer data or comply with regulations surrounding information security and privacy;
Industry and Competitive Factors
· competitive responses to our loyalty program, marketing, merchandising and promotional efforts or inventory liquidations by vendors or other
retailers;
· changes in the financial viability of our competitors;
· seasonality of the retail business;
· adverse weather conditions or natural disasters, particularly during peak selling seasons;
· delays in anticipated store openings and renovations;
· our success in enforcing our intellectual property rights;
Merchandise Procurement and Supply Chain Considerations
· changes in our relationships with designers, vendors and other sources of merchandise, including changes in the level of goods and/or changes
in the form in which such goods are made available to us for resale;
· delays in receipt of merchandise ordered due to work stoppages or other causes of delay in connection with either the manufacture or shipment
of such merchandise;
· changes in foreign currency exchange or inflation rates;
· significant increases in paper, printing and postage costs;
Leverage Considerations
· the effects of incurring a substantial amount of indebtedness under our senior secured credit facilities;
· the ability to refinance our indebtedness under our senior secured credit facilities and the effects of any refinancing;
· the effects upon us of complying with the covenants contained in our senior secured credit facilities;
· restrictions on the terms and conditions of the indebtedness under our senior secured credit facilities may place on our ability to respond to
changes in our business or to take certain actions;
Employee Considerations
· changes in key management personnel and our ability to retain key management personnel;
· changes in our relationships with certain of our buyers or key sales associates and our ability to retain our buyers or key sales associates;
Legal and Regulatory Issues
· changes in government or regulatory requirements increasing our costs of operations;
· litigation that may have an adverse effect on our financial results or reputation;
Other Factors
· terrorist activities in the United States and elsewhere;
· the impact of funding requirements related to our Pension Plan;
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