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For a discussion of market risks that could affect the Company, refer to the risk factors disclosed in Item 1A.
−Removed: of Part 1 of the Company’s annual report on Form 10-K for the year ended March 31, 2019, as well as the risk factor restated in its entirety in Item 1A.
−Removed: of Part II of this quarterly report on Form 10-Q.
+Added: of Part 1 of the Company’s annual report on Form 10-K for the year ended March 29, 2020.
INTEREST RATE RISK
−Removed: Although the Company could have an exposure to interest rate risk related to its floating rate debt, there was no floating rate debt outstanding as of December 29, 2019.
+Added: Although the Company could have an exposure to interest rate risk related to its floating rate debt, there was no balance outstanding on its floating rate debt as of June 28, 2020.
COMMODITY RATE RISK
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MARKET CONCENTRATION RISK
−Removed: The Company’s financial results are closely tied to sales to its top three customers, which represented approximately 67% of the Company’s gross sales in fiscal year 2019.
+Added: The Company’s financial results are closely tied to sales to its top two customers, which represented approximately 62% of the Company’s gross sales in fiscal year 2020.
In addition, 40% of the Company’s gross sales in fiscal year 2020 consisted of licensed products, which included 30% of sales associated with the Company’s license agreements with affiliated companies of the Walt Disney Company.
1 unchanged sentence
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.