Lululemon 2011 Annual Report Download - page 22

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Table of Contents
The general location, use, approximate size and lease renewal date of our properties at January 29, 2012, are set forth below:
As of January 29, 2012, we leased approximately 494,000 gross square feet relating to our 174 corporate-owned stores. Our leases
generally have initial terms of between five and 10 years, and generally can be extended only in five-year increments, if at all. All of our leases
require a fixed annual rent, and most require the payment of additional rent if store sales exceed a negotiated amount. Generally, our leases are
“net” leases, which require us to pay all of the cost of insurance, taxes, maintenance and utilities. We generally cannot cancel these leases at our
option.
We are a party to various legal proceedings arising in the ordinary course of our business, but we are not currently a party to any legal
proceeding that management believes would have a material adverse effect on our consolidated financial position or results of operations.
19
Location
Use
Approximate
Square Feet
Lease Renewal Date
Sumner, WA
Distribution Center
167,000
April 2020
Vancouver, BC
Distribution Center
120,000
November 2017
Vancouver, BC
Executive and Administrative Offices
78,000
n/a
Melbourne, VIC
Distribution Center
54,000
September 2016
Melbourne, VIC
Executive and Administrative Offices
19,000
September 2013
ITEM 3.
LEGAL PROCEEDINGS