As of Apr 29, 2017, the company operated 292 stores in 31 states in the Northeast, Midwest, Southeast, Texas and the Southwest US.
In fiscal 2016, the company opened 13 new stores and closed 1 existing store. During the first quarter of fiscal 2017, the company opened 5 stores and closed 3 stores. In fiscal 2017, the company plans to open 10 new stores.
All stores are leased, generally with initial terms of 10 years with renewal options for two or more 5-year periods. Assuming all renewal options are exercised, the majority of leases (209 stores) expire in 2027 or later.
Stores average approximately 35,000 square feet and most locations are in neighborhood, community and regional shopping centers frequented by a more affluent customer. Newer stores are approximately 32,000 gross square feet with the reduction from past stores being in smaller backrooms.
|Total gross square feet (M)||10,055||10,009||9,631||9,387||9,283||9,311|
|Total gross square feet growth||2.7%||3.9%||2.6%||1.1%||-0.3%||-0.4%|
|Avg store gross sq ft||34,400||34,500||34,600||34,800||35,200||35,400|
|Avg store gross sq ft growth||-0.5%||-0.4%||-0.4%||-1.1%||-0.7%||-0.8%|