Staples 2013 Annual Report Download - page 101
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12
Failure to comply with laws, rules and regulations could negatively affect our business operations and financial
performance.
Our business is subject to federal, state, local and international laws, rules and regulations, such as state and local wage
and hour laws, the U.S. Foreign Corrupt Practices Act, the False Claims Act, the Employee Retirement Income Security Act
(“ERISA”), securities laws, import and export laws (including customs regulations), privacy and information security regulations,
unclaimed property laws, and many others. The complexity of the regulatory environment in which we operate and the related
cost of compliance are both increasing due to legal and regulatory requirements, increased enforcement and our ongoing expansion
into new markets and new channels. In addition, as a result of operating in multiple countries, we must comply with multiple
foreign laws and regulations that may differ substantially from country to country and may conflict with corresponding U.S. laws
and regulations. We may also be subject to investigations or audits by governmental authorities and regulatory agencies, which
can occur in the ordinary course of business or which can result from increased scrutiny from a particular agency towards an
industry, country or practice. If we fail to comply with laws, rules and regulations or the manner in which they are interpreted or
applied, we may be subject to government enforcement action, class action litigation or other litigation, damage to our reputation,
civil and criminal liability, damages, fines and penalties, and increased cost of regulatory compliance, any of which could adversely
affect our results of operations and financial performance.
Item 1B. Unresolved Staff Comments
None.
Item 2. Properties
As of February 1, 2014, we operated a total of 2,169 retail stores in 48 states and the District of Columbia in the United
States, 10 provinces and 2 territories in Canada, and in Finland, Germany, the Netherlands, Norway, Portugal, Sweden, the United
Kingdom, China, Argentina and Australia. As of that same date, we also operated 116 distribution and fulfillment centers in 30
states in the United States, 7 provinces in Canada, and in Austria, Denmark, Finland, France, Germany, Italy, the Netherlands,
Norway, Poland, Portugal, Spain, Sweden, the United Kingdom, China, Argentina, Brazil and Australia.