Real Estate
As of Mar 31, 2017, O'Reilly operated 5,097 stores in 47 states.
In fiscal 2017, the company opened 198 stores and closed 8 stores. During the first quarter of fiscal 2018, the company opened 78 new stores. The company expects to open 200 net new stores in fiscal 2018.
At year-end, the company owned 2,014 stores and leased 3,005 stores. Leases are typically for an initial term of 10 years minimum with one or more renewal periods.
Most stores are freestanding buildings and prominent end caps situated on or near major traffic thoroughfares, and offer ample parking, easy customer access and are generally located in close proximity to professional service provider customers. Stores, on average, carry approximately 23,000 SKUs and average approximately 7,300 total square feet in size, while Hub stores (331 at year-end) carry approximately 48,000 SKUs and average approximately 10,900 square feet in size.
| TTM | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|
| Stores | 5,097 | 5,019 | 4,829 | 4,571 | 4,366 | 4,166 |
| Store growth | 4.3% | 3.9% | 5.6% | 4.7% | 4.8% | 4.8% |
| Total gross square feet (M) | 37,339 | 36,685 | 32,123 | 33,148 | 31,591 | 30,077 |
| Total gross square feet growth | 5.0% | 14.2% | -3.1% | 4.9% | 5.0% | 5.1% |
| Avg store gross sq ft | 7,300 | 7,300 | 6,700 | 7,300 | 7,200 | 7,200 |
| Avg store gross sq ft growth | 0.7% | 9.9% | -8.3% | 0.2% | 0.2% | 0.3% |