As of Aug 4, 2018, the company operated 742 stores in 48 states and the District of Columbia.
During fiscal 2017, the company opened 60 new stores and closed 10 underperforming stores. In the first half of fiscal 2018, the company opened 21 net new boutiques. The company expects to open approximately 20 to 25 new boutiques and to close approximately 5 existing boutiques in fiscal 2018. Long-term, the company believes there is the potential to grow to more than 900 domestic stores.
All stores are leased, typically with initial terms of 5 to 10 years; many have additional 5-year renewal options and the majority have early termination clauses if certain sales levels are not met in specific periods or if a shopping center does not meet specified occupancy standards.
Stores range in size from 1,000 to 2,000 square feet with an average size of approximately 1,400 square feet, and are located in highly visible locations in regional malls, lifestyle centers, street locations and strip centers. Going forward, the overall store mix will consist of approximately 45% mall and 55% non-mall stores.
|Total gross square feet (M)||1,074||1,024||933||843||728||613|
|Total gross square feet growth||10.5%||9.8%||10.7%||15.8%||18.8%||22.8%|
|Avg store gross sq ft||1,400||1,400||1,400||1,400||1,400||1,400|
|Avg store gross sq ft growth||3.0%||2.1%||1.6%||1.3%||-0.6%||-1.9%|