Big Lots 2015 Annual Report Download - page 84

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Item 1A. Risk Factors
The statements in this section describe the material risks to our business and should be considered carefully. In addition, these
statements constitute cautionary statements under the Private Securities Litigation Reform Act of 1995.
Our disclosure and analysis in this Form 10-K and in our 2015 Annual Report to Shareholders contain forward-looking
statements that set forth anticipated results based on management’s plans and assumptions. From time to time, we also provide
forward-looking statements in other materials we release to the public as well as oral forward-looking statements. Such
statements give our current expectations or forecasts of future events; they do not relate strictly to historical or current facts.
Such statements are commonly identified by using words such as “anticipate,” “estimate,” “expect,” “objective,” “goal,”
“project,” “intend,” “plan,” “believe,” “will,” “should,” “may,” “target,” “forecast,” “guidance,” “outlook,” and similar
expressions in connection with any discussion of future operating or financial performance. In particular, forward-looking
statements include statements relating to future actions, future performance, or results of current and anticipated products, sales
efforts, expenses, interest rates, the outcome of contingencies, such as legal proceedings, and financial results.
We cannot guarantee that any forward-looking statement will be realized. Achievement of future results is subject to risks,
uncertainties, and potentially inaccurate assumptions. If known or unknown risks or uncertainties materialize, or should
underlying assumptions prove inaccurate, actual results could differ materially from past results and those anticipated,
estimated, or projected results set forth in the forward-looking statements. You should bear this in mind as you consider
forward-looking statements.
You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof. We
undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events,
or otherwise. You are advised, however, to consult any further disclosures we make on related subjects in our Quarterly
Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC.
The following cautionary discussion of material risks, uncertainties, and assumptions relevant to our businesses describes
factors that, individually or in the aggregate, we believe could cause our actual results to differ materially from expected and
historical results. Additional risks not presently known to us or that we presently believe to be immaterial also may adversely
impact us. Should any risks or uncertainties develop into actual events, these developments could have material adverse effects
on our business, financial condition, results of operations, and liquidity. Consequently, all of the forward-looking statements
are qualified by these cautionary statements, and there can be no assurance that the results or developments we anticipate will
be realized or that they will have the expected effects on our business or operations. We note these factors for investors as
permitted by the Private Securities Litigation Reform Act of 1995. There can be no assurances that we have correctly and
completely identified, assessed, and accounted for all factors that do or may affect our business, financial condition, results of
operations, and liquidity, as it is not possible to predict or identify all such factors. Consequently, you should not consider the
following to be a complete discussion of all potential risks or uncertainties.
Our ability to achieve the results contemplated by forward-looking statements is subject to a number of factors, any one, or a
combination, of which could materially affect our business, financial condition, results of operations, or liquidity. These factors
may include, but are not limited to:
If we are unable to successfully execute our operating strategies, our operating performance could be significantly
impacted.
There is a risk that we will be unable to meet or exceed our operating performance targets and goals in the future if our
strategies and initiatives are unsuccessful. During 2013 and early 2014, our senior leadership team developed the core
principles of our new strategic plan. During 2014 and 2015, we began to execute on our strategic plan. Our ability to adapt our
strategic plan to a changing marketplace and to execute the business activities associated with our operating and strategic plans,
could impact our ability to meet our operating performance targets. See the accompanying MD&A in this Form 10-K for
additional information concerning our operating strategy.