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On March 11, 2020, the World Health Organization declared COVID-19 a pandemic, and on March 13, 2020, the United States declared a national emergency with respect to COVID-19.
−Removed: Governmental authorities nationally and in affected regions are taking increasingly dramatic actions and mandating various restrictions in an effort to slow the spread of the virus, including travel restrictions, restrictions on public gatherings, “shelter at home” orders and advisories and quarantining of people who may have been exposed to the virus.
+Added: Governmental authorities nationally and in affected regions have taken numerous actions and mandated various restrictions in an effort to slow the spread of the virus, including travel restrictions, restrictions on public gatherings, “shelter at home” orders and advisories and quarantining of people who may have been exposed to the virus.
The outbreak of the COVID-19 pandemic has severely impacted global economic activity and caused significant volatility and negative pressure in financial markets.
1 unchanged sentence
The outbreak of the COVID-19 pandemic has disrupted our business and has had a significant adverse effect on our business, financial performance and condition, operating results, liquidity and cash flows, and will continue to adversely impact and cause disruption to our business, financial performance and condition, operating results, liquidity and cash flows.
−Removed: Factors that would negatively impact our ability to successfully operate during the current outbreak of the COVID-19 pandemic or another pandemic include:
−Removed: our ability to reopen stores in a timely manner, and our ability to attract customers to our stores when we are able to reopen;
−Removed: our ability to retain, and not furlough, corporate associates, to assist in the re-openings of our stores;
−Removed: our ability to reinstate our furloughed store and distribution center associates;
+Added: Factors that would negatively impact our ability to successfully operate during the current outbreak of the COVID-19 pandemic (or subsequent outbreaks, either more broadly or within our stores) or another pandemic include:
+Added: our ability to continue to operate, or reopen any closed stores or distribution centers in a timely manner, and our ability to attract customers to our stores;
+Added: our ability to retain, and not furlough, corporate associates, in the event that we are required to cease or significantly limit our operations again in the future;
+Added: our ability to reinstate any furloughed store and distribution center associates;
our ability to enter into rent deferral arrangements with our landlords;
−Removed: supply chain delays due to closed factories, reduced workforces, scarcity of raw materials and scrutiny or embargoing of goods produced in infected areas;
−Removed: our ability to move existing inventory, including potentially having to sell existing inventory at a discount or write-down the value of inventory, and the costs and expenses of updating and replacing inventory;
+Added: supply chain delays due to closed factories or distribution centers, reduced workforces or labor shortages, scarcity of raw materials and scrutiny or embargoing of goods produced in infected areas;
+Added: our ability to move existing inventory, including potentially having to sell existing inventory at a discount or write-down the value of inventory, and the costs , challenges and expenses of updating , procuring and replacing inventory;
delays in, or our ability to complete, planned store openings on the expected terms or timing, or at all;
fluctuations in regional and local economies, including the impact on regional and local retail markets and consumer confidence and spending;
−Removed: our ability to attract customers to our stores when, or if, they reopen, given the risks, or perceived risks, of gathering in public places;
+Added: our ability to attract customers to our stores, given the risks, or perceived risks, of gathering in public places;
our ability to delay merchandise and other payments to vendors;
our ability to pay associate compensation, including incentive compensation payments, in a timely manner, or at all;
−Removed: our ability to continue to incentivize and retain associates, as well as our ability to preserve liquidity to be able to take advantage of market conditions when, or if, our stores reopen;
+Added: our ability to continue to incentivize and retain associates, as well as our ability to preserve liquidity to be able to take advantage of market conditions;
difficulty accessing debt and equity capital on attractive terms, or at all, and a severe disruption and instability in the global financial markets or deteriorations in credit and financing conditions may affect our access to capital necessary to fund business operations or address maturing liabilities.
−Removed: The extent of the impact of the COVID-19 pandemic on our business, consolidated results of operations, consolidated financial position and consolidated cash flows, including any potential impairment or other fair value adjustments, will depend largely on future developments, including the duration and spread of the outbreak within the U.S., the related impact on consumer confidence and spending and when, or if, we will be able to resume normal operations, all of which are highly uncertain and cannot be predicted.
+Added: The extent of the impact of the COVID-19 pandemic on our business, consolidated results of operations, consolidated financial position and consolidated cash flows, including any potential impairment or other fair value adjustments, will depend largely on future developments, including the duration and spread of the outbreak within the U.S., related economic uncertainties and government stimulus measures, the related impact on consumer confidence and spending and when, or if, we will be able to resume normal operations, all of which are highly uncertain and cannot be predicted.
Additionally, we may need to cease or significantly limit our operations again if subsequent outbreaks occur, either more broadly or within our stores.
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.