Item 2. Properties.

3K characters. Original on sec.gov · Markdown

Item 2. Properties.

We lease space for our retail stores, showrooms, warehouses, and offices in various domestic and international locations. We do not own any real property except for our retail digital commerce call center and distribution facility in High Point, North Carolina; and our retail stores in Southampton and Easthampton, New York, and Nantucket, Massachusetts.

We believe that our existing facilities are well maintained, in good operating condition, and are adequate for our present level of operations.

The following table sets forth information relating to our key properties as of March 28, 2020:

LocationUseApproximate Square Feet
NC Highway 66, High Point, NCWholesale and retail distribution facility847,000
N. Pendleton Street, High Point, NCRetail digital commerce call center and distribution facility805,000
Greensboro, NCWholesale and retail distribution facility337,700
601 West 26th Street, NYCCorporate offices304,900
650 Madison Avenue, NYCExecutive and corporate offices, design studio, and showrooms273,200
Nutley, NJCorporate and retail administrative offices and showrooms255,000
Geneva, SwitzerlandEuropean corporate offices107,000
7th Avenue, NYCCorporate offices, design studio, and Women's showrooms78,800
Spinners Building, Hong KongAsia sourcing offices67,000
Gateway Office, Hong KongAsia corporate offices37,500
888 Madison Avenue, NYCRetail flagship store37,900
N. Michigan Avenue, ChicagoRetail flagship store37,500
New Bond Street, London, UKRetail flagship store31,500
867 Madison Avenue, NYCRetail flagship store27,700
Paris, FranceRetail flagship store25,700
Tokyo, JapanRetail flagship store25,000
N. Rodeo Drive, Beverly HillsRetail flagship store19,400
Regent Street, London, UKRetail flagship store19,000
Prince's Building, Hong KongRetail flagship store9,800

As of March 28, 2020, we directly operated 530 retail stores, totaling approximately 4.1 million square feet. We anticipate that we will be able to extend our retail store leases, as well as those leases for our non-retail facilities, which expire in the near future on satisfactory terms or relocate to desirable alternate locations. We generally lease our freestanding retail stores for initial periods ranging from 5 to 15 years, with renewal options. See Item 1A — "Risk Factors — Our business is subject to risks associated with leasing real estate and other assets under long-term, non-cancellable leases."

38

Previous: Item 1B. Unresolved Staff Comments. · Next: Item 3. Legal Proceedings.