Item 2. PROPERTIES

2K characters. Original on sec.gov · Markdown

Item 2. PROPERTIES

We lease store locations, distribution and manufacturing facilities, corporate facilities and customer care centers for our U.S. and foreign operations for original terms generally ranging from 5 to 22 years. Certain leases contain renewal options for periods of up to 20 years.

For our store locations, our gross leased store space as of January 31, 2021 totaled approximately 6,301,000 square feet for 581 stores compared to approximately 6,558,000 square feet for 614 stores as of February 2, 2020.

Leased Properties

The following table summarizes the location and size of our leased facilities occupied by us as of January 31, 2021:

LocationOccupied Square Footage (Approximate)
Distribution and Manufacturing Facilities
Mississippi2,258,000
New Jersey2,103,000
California2,030,000
Texas1,298,000
Georgia1,075,000
Tennessee603,000
North Carolina442,000
Ohio153,000
Massachusetts140,000
Florida135,000
Oregon91,000
Colorado80,000
Corporate Facilities
California269,000
New York238,000
Oregon49,000
Customer Care Centers
Nevada36,000
Other32,000

In addition to the above leased properties, we enter into agreements for other offsite storage needs for our distribution facilities and our retail store locations, as necessary. As of January 31, 2021, the total leased space related to these properties was not material to us and is not included in the occupied square footage reported above.

Owned Properties

As of January 31, 2021, we owned 471,000 square feet of space, primarily in California, for our corporate headquarters and certain data center operations.

We believe that all of our facilities are adequate for our current needs and that suitable additional or substitute space will be available in the future to replace our existing facilities, or to accommodate the expansion of our operations, if necessary.

Previous: Item 1B. UNRESOLVED STAFF COMMENTS · Next: Item 3. LEGAL PROCEEDINGS