Item 2. Properties

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All of our retail stores, distribution and warehouse facilities and corporate offices are leased or subleased.

Stores

Our retail stores are predominantly located in convenient, high-traffic, locations such as power centers. Our typical store is approximately 10,000 square feet, including approximately 950 square feet dedicated to our full-service salon. Most of our retail store leases provide for a fixed minimum annual rent and generally have a 10-year initial term with options for two or three extension periods of five years each, exercisable at our option.

Table of Contents

As of January 28, 2017, we operated 974 retail stores in 48 states and the District of Columbia, as shown in the table below:

Table of Contents

Distribution Centers

We currently operate five distribution centers located in Romeoville, Illinois; Phoenix, Arizona; Chambersburg, Pennsylvania; Greenwood, Indiana; and Dallas, Texas. Our standard distribution center leases provide for a fixed minimum annual rent and generally have a 10 or 15-year initial term with three or four renewal options with terms of five years each. The general location, approximate size, and lease expiration dates, of our leased distribution centers at January 28, 2017, are set forth below:

Corporate Office

Our principal executive office is in Bolingbrook, Illinois. The corporate office is approximately 308,000 square feet with lease terms expiring from 2020 to 2028. In 2016, we opened a satellite corporate office in Chicago, Illinois. The Chicago office is approximately 23,000 square feet with lease expiration in 2024.