Radio Shack 2013 Annual Report Download - page 13

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11
ITEM 1B. UNRESOLVED STAFF COMMENTS.
None.
ITEM 2. PROPERTIES.
Information on our properties is presented in our MD&A and
financial statements included in this Annual Report on Form
10-K and is incorporated into this Item 2 by reference.
The following items are discussed further in the Notes to
Consolidated Financial Statements:
Summary of Significant Accounting Policies –
Property, Plant and Equipment
Note 2
Supplemental Balance Sheet Disclosures –
Property, Plant and Equipment, Net
Note 3
Commitments and Contingencies Note 13
We lease, rather than own, all of our retail facilities. Our
stores are located in shopping malls, stand-alone buildings
and shopping centers owned by other entities. We lease
administrative offices throughout the United States and in
Mexico, Hong Kong, and Taiwan. We own the property on
which our three distribution centers and two manufacturing
facilities are located within the United States.
RETAIL LOCATIONS
The table below shows our retail locations at December 31, 2013, allocated among U.S. and Mexico company-operated
stores, discontinued kiosks and dealer and other outlets.
Average
Store Size At December 31,
(Sq. Ft.) 2013
2012
2011
U.S. RadioShack company-operated stores
(1)
2,426 4,297 4,395 4,476
Mexico RadioShack company-operated stores
(2)
1,339 274 269 227
Dealer and other outlets
(3)
N/A 948 1,014 1,110
Discontinued kiosks
(4)
N/A -- 1,522 1,496
Total number of retail locations
(5)
5,519 7,200 7,309
(1) We closed 113 and 103 stores during 2013 and 2012, respectively, after we decided not to renew the leases.
(2) We opened 46 Mexico RadioShack company-operated stores during 2012.
(3) Our dealer and other outlets decreased by 66
and 96 locations, net of new openings, during 2013 and 2012, respectively. These declines were primarily due
to either the closing of dealer store locations or dealer agreements not being renewed.
(4) As of December 31, 2012 and 2011, we operated wireless kiosks in certain Target locations. The operation of all of these kiosks was transitioned to Target
by March 31, 2013.
(5) In 2013 the Company opened 52 retail locations and closed 1,713 retail locations. In 2012 the Company opened 127 retail locations and closed 235 retail
locations. In 2011 the Company opened 725 retail locations and closed 599 retail locations.
Real Estate Owned and Leased
Approximate Square Footage (in thousands)
At December 31,
2013 2012
Owned Leased Total Owned Leased Total
Retail
U.S. RadioShack company-operated stores
-- 10,426 10,426 2 10,827 10,829
Mexico company-operated stores -- 367 367 -- 356 356
Discontinued kiosks -- -- -- -- 24 24
Support Operations
Manufacturing 134 -- 134 134 -- 134
Distribution centers and office space 1,927 480 2,407 1,927 480 2,407
2,061 11,273 13,334 2,063 11,687 13,750