Stein Mart 2014 Annual Report Download - page 11

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9
ITEM 1B. UNRESOLVED STAFF COMMENTS
None.
ITEM 2. PROPERTIES
Stores
The following table summarizes our store count activity during the last three fiscal years:
2014 2013 2012
Stores at beginning of year 264 263 262
Stores opened during the year 946
Stores closed during the year (3) (3) (5)
Stores at end of year 270 264 263
As of January 31, 2015, our stores operated in the following 30 states:
State Number of Stores State Number of Stores
Alabama 8 Missouri 3
Arizona 10 Nevada 5
Arkansas 2 New Jersey 5
California 23 New Mexico 1
Colorado 3 New York 3
Florida 43 North Carolina 20
Georgia 13 Ohio 8
Illinois 4 Oklahoma 4
Indiana 7 Pennsylvania 4
Kansas 2 South Carolina 12
Kentucky 2 Tennessee 12
Louisiana 8 Texas 44
Massachusetts 1 Utah 1
Michigan 1 Virginia 14
Mississippi 6 Wisconsin 1
We lease all of our store locations, generally for 10 years with options to extend the lease term for two or more 5-year periods. We have
the right to terminate some of these leases before the expiration date under specified circumstances and some with specified termination
payments. Most of our leases provide for fixed minimum rents, as well as contingent amounts based on a percentage of sales in excess of
specified levels.
As of January 31, 2015, we leased the following additional facilities:
Facility Location Square Feet
Distribution Center/Warehouse Lithia Springs, Georgia
342,000
Distribution Centers: Grand Prairie, Texas
75,000
Ontario, California
70,000
We also lease our 111,000 square foot corporate headquarters in Jacksonville, Florida.