Item 1A. Risk Factors
ITEM 1A.
RISK FACTORS
Risk factors that affect our business and financial results are discussed within Part 1, Item 1A of our 2020 Form 10-K. Except as set
forth below, there have been no material changes to our risk factors as disclosed in the 2020 Form 10-K and in our subsequent filings with the SEC.
Vaccine mandates and other governmental regulations relating to the ongoing COVID-19 pandemic
could have a material adverse impact on our business, financial conditions, results of operations, and prospects.
On November 4, 2021, the U.S. Department of Labor’s Occupational Safety and Health Administration issued an emergency temporary
standard (“ETS”) regulation requiring all employers with at least 100 employees have their employees be vaccinated or tested weekly. At this time, it remains unclear whether the ETS will go into effect, and if it does, whether it will apply to
all employees or only to employees who work in the office, as well as how compliance will be documented.
As a company with over 10,000 employees, it is anticipated that, should the ETS or similar regulations go into effect, we could be
subject to COVID-19 vaccination and/or testing mandates. Should the mandates apply to us, we may be required to implement a requirement that all of our employees get vaccinated or be frequently tested, subject to limited exceptions. At this time,
it is not possible to predict the impact that a vaccine and testing mandate, or a vaccine requirement should we adopt one, will have on us or on our workforce. Any vaccine requirement or vaccine mandate, if implemented, may result in disruptions
to our retail store operations, distribution operations, employee attrition and increased labor costs, which could materially and adversely affect our business and results of operations.
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