Risk Factors Update Summary
- Expansion into carpet offerings: Anticipate offering carpet in majority of stores by end of 2024.
- Growth strategy shift: Primarily based on increased CRM system utilization for generating sales opportunities.
- Supplier risk mitigation: Sourced 11% of products from China in 2023, down from 14% in 2022.
- Compliance risks: New data privacy legislation in multiple states could impact operations and profitability.
- Financial risks: Non-compliance with restrictive covenants in Revolving Credit Facility could lead to default.
- Customer preference shift: Hard-surface flooring industry highly dependent on consumer demand, impacting sales.
- Technology disruption: Operational problems with CRM system may result in lost sales opportunities.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1396033&owner=exclude
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