Pottery Barn 2014 Annual Report Download - page 34
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to replace. If any one of our key employees leaves, is seriously injured or unable to work, or fails to perform and
we are unable to find a qualified replacement, we may be unable to execute our business strategy. We may not be
successful in recruiting, retaining and motivating skilled personnel domestically or globally who have the
requisite experience to achieve our global business goals.
In addition, our main offices are located in the San Francisco Bay Area, where competition for personnel with
retail and technology skills can be intense. If we fail to identify, attract, retain and motivate these skilled
personnel, our business may be harmed. Further, in the event we need to hire additional personnel, we may
experience difficulties in attracting and successfully hiring such individuals due to competition for highly skilled
personnel, as well as the significantly higher cost of living expenses in our market.
ITEM 1B. UNRESOLVED STAFF COMMENTS
None.
ITEM 2. PROPERTIES
We lease store locations, distribution centers, corporate facilities and customer care centers for our U.S. and
foreign operations for original terms ranging generally from 3 to 22 years. Certain leases contain renewal options
for periods of up to 20 years.
For our store locations, our gross leased store space, as of February 1, 2015, totaled approximately
5,965,000 square feet for 601 stores compared to approximately 5,838,000 square feet for 585 stores as of
February 2, 2014.
Leased Properties
The following table summarizes the location and size of our leased distribution centers, corporate facilities and
customer care centers occupied as of February 1, 2015:
Location Occupied Square Footage (Approximate)
Distribution Centers
Olive Branch, Mississippi 2,105,000
South Brunswick, New Jersey 2,103,000
City of Industry, California 1,180,000
Arlington, Texas 822,000
Memphis, Tennessee1571,000
Claremont, North Carolina 412,000
Other 453,000
Corporate Facilities
Brisbane, California 194,000
Brooklyn, New York 132,000
Portland, Oregon 132,000
San Francisco, California 29,000
Customer Care Centers
Las Vegas, Nevada 36,000
Oklahoma City, Oklahoma 36,000
Other 24,000
1See Note F to our Consolidated Financial Statements for more information.
In addition to the above contracts, we enter into other agreements for offsite storage needs for our distribution
centers and our retail store locations. As of February 1, 2015, the total leased space relating to these properties
was not material to us and is not included in the occupied square footage reported above.
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