We operate in a rapidly changing environment that involves a number of risks that may have a material adverse effect on our business, financial condition and results of operations.
−Removed: For a detailed discussion of the risks that affect our business, please refer to the section entitled “Risk Factors”
−Removed: in our 2019 Form 10-K or other SEC filings.
−Removed: There have been no material changes to our risk factors as previously disclosed in our Annual Report on Form 10-K , except as discussed below .
−Removed: Our business, financial condition, and results of operations could be materially adversely affected by current civil unrest.
−Removed: Our business, financial condition and results of operations could be adversely affected by current civil unrest.
−Removed: The Company has had to temporarily close certain stores, as well as limit store operating hours.
−Removed: Because our success, in part, depends on traffic to our retail stores, reduced levels of customer traffic at our stores could adversely impact our business, financial condition and results of operations.
−Removed: Prolonged civil unrest could also impact our ability to successfully open new stores.
−Removed: Further, if civil unrest impacts our distribution, our direct sales, in addition to retail sales, would be adversely affected.
−Removed: We cannot presently estimate the impact of civil unrest on our business, financial condition, and results of operations.
+Added: For a detailed discussion of the risks that affect our business, please refer to the section entitled “Risk Factors” in our 2019 Form 10-K, our first quarter fiscal 2020 Form 10-Q or other SEC filings.
+Added: There have been no material changes to our risk factors as previously disclosed in our fiscal 2019 Annual Report on Form 10-K or first quarter fiscal 2020 Form 10-Q, except as discussed below.
+Added: The Coronavirus pandemic may continue to adversely affect our business operations, store traffic, employee availability, financial condition, liquidity and cash flow for an extended period of time.
+Added: The outbreak of the Coronavirus (“COVID-19”) continues to affect our business operations and it is impossible to predict the effect and ultimate impact of the COVID-19 pandemic as the situation is rapidly evolving.
+Added: As the pandemic continues, consumer fear about becoming ill with the virus and recommendations and/or mandates from federal, state and local authorities to avoid large gatherings of people or self-quarantine may continue to increase, which may continue to adversely affect traffic to our stores, results in further reduced store hours or result in store closures.
+Added: Ongoing significant reductions in customer visits to, and spending at, our stores caused by COVID-19 would result in further loss of retail sales and profits and other material adverse effects.
+Added: The extent of the impact of COVID-19 on our business, financial results, liquidity and cash flows will depend largely on future developments, including new information that may emerge concerning the severity and action taken to contain or prevent further spread within the U.S.
+Added: and the related impact on consumer confidence and spending, all of which are highly uncertain and cannot be predicted.
+Added: If the COVID-19 outbreak and the corresponding surge in online purchasing persists for an extended period of time, we expect there will be significant and material disruptions to our distribution network.
+Added: In particular, our primary delivery provider, UPS, has increased surcharges and provided shipping thresholds that may not be sufficient based on potential volume during our peak holiday shopping season.
+Added: As a result of greater competition for shipping capacity, our efforts to mitigate these reduced thresholds by engaging additional shipping partners may not be successful or may result in similar surcharges.
+Added: Constraints on our shipping capacity and higher shipping costs may result in higher expenses, delayed shipments and lost sales that may have a material adverse effect on our business and results of operations.
+Added: These and other potential impacts of COVID-19, could therefore materially and adversely affect our business, financial condition and results of operations.
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.