−Removed: Except as set forth below, there have been no material changes to the risk factors set forth in our Annual Report on Form 10-K for the fiscal year ended February 1, 2020.
+Added: Except as set forth below, there have been no material changes to the risk factors set forth in our Annual Report on Form 10-K for the fiscal year ended February 1, 2020 and our Quarterly Report for the quarter ended May 2, 2020.
+Added: In addition, the COVID-19 pandemic could exacerbate or trigger other risks discussed in our Annual Report on Form 10-K for the fiscal year ended February 1, 2020, any of which could materially affect our business, financial condition and results of operations.
The risk factor entitled “The COVID-19 pandemic may further adversely affect our operations” has been updated to read as follows:
2 unchanged sentences
The World Health Organization has declared COVID‑19 a pandemic.
−Removed: Government, as well as state and local governments, have taken unprecedented measures to control the virus’ spread and to provide stimulus as a mitigating measure to deteriorating economic conditions and increasing unemployment.
+Added: Government, as well as state and local governments, have taken unprecedented measures to control the spread of COVID-19 and to provide stimulus as a mitigating measure to deteriorating economic conditions and increasing unemployment.
Many businesses, schools, and other institutions have closed to further the practice of “social distancing” as a method to slow the outbreak.
While our supply chain has not experienced significant disruption, our business and results of operations have been significantly impacted by the temporary closure of our brick-and-mortar stores effective March 19, 2020 and reduced foot traffic and sales prior to such time.
−Removed: Beginning in late April, we began re-opening stores in accordance with applicable health guidelines, and as of June 4, 2020 approximately 97% of our stores have re-opened.
+Added: Beginning in late April, we began reopening stores in accordance with applicable health guidelines, and by the end of the second quarter of fiscal 2020, all of our stores were reopened.
As guidance and mandates from governments and public health officials continue to evolve, closures to some, or all, of our store and other operations may reoccur.
1 unchanged sentence
The extent of the impact of the COVID‑19 pandemic on our operational and financial performance will depend on future developments, including, but not limited to:
−Removed: the duration and spread of the outbreak, including whether there is a “second wave” or other additional periods of increases or spikes in the number of COVID-19 cases in future periods in areas in which we operate;
+Added: the duration and spread of the outbreak, including whether there are additional periods of increases or spikes in the number of COVID-19 cases in future periods in areas in which we operate;
mitigating efforts deployed by government agencies and the public at large;
the general perception of those mitigating efforts where we operate, procure merchandise and raise capital.
−Removed: Now that a significant percentage of our stores have re-opened to our customers, our customers and store employees are exposed to certain safety risks.
+Added: Now that our stores have reopened to our customers, our customers and store employees are exposed to certain safety risks.
While we have taken measures to control these risks, the unpredictable nature of COVID-19 may result in unexpected outcomes.
4 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.