text: **Our sales and customer relationships may be negatively impacted if we do not anticipate and respond to consumer preferences**
  **and fashion trends appropriately.**
  Our ability to predict or respond to constantly changing fashion trends, consumer preferences and spending patterns significantly impacts our 
  sales and operating results. If we do not identify and respond to emerging trends in consumer spending and preferences quickly enough, we 
  may harm our ability to retain our existing customers or attract new customers. If we purchase too much inventory, we may be forced to sell 
  our merchandise at lower average margins, which could harm our business. Conversely, if we fail to purchase enough merchandise, we may 
  lose opportunities for additional sales and damage our relationships with our customers. 
  
  **The results of our Credit operations could be adversely affected by changes in market conditions.**
  Our credit card revenues and profitability are subject in large part to economic and market conditions that are beyond our control, including, 
  but not limited to, interest rates, consumer credit availability, consumer debt levels, unemployment trends and other factors. These economic 
  and market conditions could impair our credit card revenues and the profitability of our credit card business due to factors such as lower 
  demand for credit, or could impair ability to assess the creditworthiness of our customers if the criteria and/or models we use to underwrite 
  and manage our customers become less predictive of future losses, causing our losses to rise and have a negative impact on our results of 
  operations. Deterioration of economic conditions and consumer confidence may also adversely affect our credit customers’ payment patterns 
  and delinquency rates, increasing our bad debt expense. 