GameStop 2010 Annual Report Download - page 39

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Table of Contents
Item 2. Properties
All of our stores are leased. Store leases typically provide for an initial lease term of three to ten years, plus renewal options. This arrangement
gives us the flexibility to pursue extension or relocation opportunities that arise from changing market conditions. We believe that, as current leases
expire, we will be able to obtain either renewals at present locations, leases for equivalent locations in the same area, or be able to close the stores
with expiring leases and transfer enough of the sales to other nearby stores to improve, if not at least maintain, profitability.
The terms of the store leases for the 6,670 leased stores open as of January 29, 2011 expire as follows:
Number
Lease Terms to Expire During of Stores
(12 Months Ending on or About January 31)
Expired and in negotiations 31
2012 1,341
2013 1,872
2014 1,384
2015 816
2016 and later 1,226
6,670
At January 29, 2011, the Company owned or leased office and distribution facilities, with lease expiration dates ranging from 2011 to 2019
and an average remaining lease life of approximately four years, in the following locations:
Square Owned
or
Location Footage Leased Use
United States
Grapevine, Texas, USA 518,000 Owned Distribution and administration
Grapevine, Texas, USA 182,000 Owned Manufacturing and distribution
Louisville, Kentucky, USA 260,000 Leased Distribution
Minneapolis, Minnesota, USA 15,000 Leased Administration
West Chester, Pennsylvania, USA 6,100 Leased Administration
Canada
Brampton, Ontario, Canada 119,000 Owned Distribution and administration
Brampton, Ontario, Canada 59,000 Leased Distribution and administration
Australia
Pinkenba, Queensland, Australia 70,000 Owned Distribution and administration
Auckland, New Zealand 13,000 Leased Distribution
Europe
Arlov, Sweden 80,000 Owned Distribution and administration
Milan, Italy 120,000 Owned Distribution and administration
Memmingen, Germany 67,000 Owned Distribution and administration
Valencia, Spain 22,000 Leased Distribution
Valencia, Spain 15,000 Leased Administration
Dublin, Ireland 24,000 Leased Distribution and administration
Paris, France 54,000 Leased Distribution
Sophia Antipolis, France 17,000 Leased Administration
In addition, we are constructing a 161,000 square foot distribution and administration building in Eagle Farm, Queensland, Australia,
estimated to be completed in fiscal 2011. 23