Family Dollar 2009 Annual Report Download - page 23

As of October 2, 2009, we had, in the aggregate, approximately 56.7 million square feet of total store space
(including receiving rooms and other non-selling areas) and approximately 47.2 million square feet of selling
space.
The number of stores we operated at the end of each of our last five fiscal years was:
Fiscal Year
Number of
Stores at
Year End
2005 ............................................................ 5,898
2006 ............................................................ 6,173
2007 ............................................................ 6,430
2008 ............................................................ 6,571
2009 ............................................................ 6,655
During fiscal 2009, we opened 180 stores, closed 96 stores, relocated 10 stores within the same shopping
center or market area, and expanded or renovated 41 stores. In addition, during fiscal 2009, we initiated efforts to
re-align space in our stores to accommodate strong customer demand for consumable merchandise and improve
the in-store shopping experience. Approximately 48% of the chain was impacted by these efforts during fiscal
2009. We plan to continue re-aligning the space in our stores during fiscal 2010. From August 30, 2009, through
October 2, 2009, we opened 20 new stores, closed 11 stores, and relocated 4 stores within the same shopping
center or market area.
Our stores are located in urban, suburban, small town and rural markets, and they are typically freestanding
or located in shopping centers. At the end of fiscal 2009, approximately 20% of our stores were located in large
urban markets (markets with populations above 200,000), and approximately 26% of our stores were located in
small urban markets (markets with populations greater than 75,000 but less than 200,000) or suburban
areas. During fiscal 2009, approximately 18% of our new store locations were opened in large urban markets,
and 39% of our new locations were opened in small urban or suburban markets.
All of our stores are leased except for 487 stores which we own. Most of our leases have an initial term of
five years and provide for fixed rentals, and most of our leases require additional payments based upon a
percentage of sales, property taxes, insurance premiums, or common area maintenance charges.
Of our 6,177 leased stores at October 2, 2009, all but 404 leases grant us options to renew for additional
terms, in most cases for a number of successive five-year periods. The following table sets forth certain data
concerning the expiration dates of all leases with renewal options as of October 2, 2009:
Fiscal Years
Approximate Number
of Leases Expiring
Assuming No Exercise
of Renewal Options
Approximate Number
of Leases Expiring
Assuming Full
Exercise of Renewal
Options
2010 .......................................... 950 52
2011-2013 ...................................... 2,998 220
2014-2016 ...................................... 1,720 380
2017-2019 ...................................... 488 510
2020 and thereafter ............................... 21 5,015
We own our corporate headquarters and a distribution center located on a 108-acre tract of land in
Matthews, North Carolina, just outside of Charlotte, in two buildings containing approximately 1.24 million
square feet. We use approximately 930,000 square feet for the distribution center, which includes receiving,
warehousing, shipping and storage facilities, and we use approximately 310,000 square feet for the corporate
headquarters.
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