Dollar General 2008 Annual Report Download - page 21

Download and view the complete annual report

Please find page 21 of the 2008 Dollar General annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 189

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189

19
ITEM 2. PROPERTIES
As of February 27, 2009, we operated 8,414 retail stores located in 35 states as follows:
State
Number of Stores
State
Number of Stores
Alabama
465
Nebraska
80
Arizona
52
New Jersey
22
Arkansas
227
New Mexico
42
Colorado
21
New York
232
Delaware
23
North Carolina
487
Florida
424
Ohio
473
Georgia
476
Oklahoma
276
Illinois
307
Pennsylvania
399
Indiana
318
South Carolina
333
Iowa
171
South Dakota
12
Kansas
145
Tennessee
419
Kentucky
309
Texas
983
Louisiana
332
Utah
9
Maryland
57
Vermont
4
Michigan
237
Virginia
248
Minnesota
16
West Virginia
153
Mississippi
266
Wisconsin
85
Missouri
311
Most of our stores are located in leased premises. Individual store leases vary as to their
terms, rental provisions and expiration dates. The majority of our leases are relatively low-cost,
short-term leases (usually with current terms of three to five years) often with multiple renewal
options. We also have stores subject to build-to-suit arrangements with landlords, which
typically carry a primary lease term of 10 years with multiple renewal options. In recent years, an
increasing percentage of our new stores have been subject to build-to-suit arrangements. In 2008,
approximately 85% of our new stores were build-to-suit arrangements.
As of February 27, 2009, we operated nine distribution centers, as described in the
following table:
Location
Year
Opened
Approximate Square
Footage
Approximate Number
of Stores Served
Scottsville, KY
1959
720,000
930
Ardmore, OK
1994
1,310,000
1,236
South Boston, VA
1997
1,250,000
806
Indianola, MS
1998
820,000
833
Fulton, MO
1999
1,150,000
1,099
Alachua, FL
2000
980,000
777
Zanesville, OH
2001
1,170,000
1,145
Jonesville, SC
2005
1,120,000
759
Marion, IN
2006
1,110,000
829
We lease the distribution centers located in Oklahoma, Mississippi and Missouri and own
the other six distribution centers. Approximately 7.25 acres of the land on which our Kentucky
distribution center is located is subject to a ground lease. We lease additional temporary
warehouse space as necessary to support our distribution needs.