Big Lots 2009 Annual Report Download - page 118

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that we believe represents a great value. For net sales by merchandise category and as a percent of total net
sales, see the discussion below under the captions “2009 Compared To 2008” and “2008 Compared To 2007” in
“Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” (“MD&A”)
of this Form 10-K.
Real Estate
The following table compares the number of our stores in operation at the beginning and end of each of the last
five fiscal years:
2009 2008 2007 2006 2005
Stores open at the beginning of the year................ 1,339 1,353 1,375 1,401 1,502
Stores opened during the year........................ 52 21 7 11 73
Stores closed during the year......................... (30) (35) (29) (37) (174)
Stores open at the end of the year .................. 1,361 1,339 1,353 1,375 1,401
As part of our real estate strategy initiated in the latter half of 2005, we closed a number of underperforming
locations. During 2006 through 2008, we focused on improving profitability through managing our existing
store base as the commercial real estate market demanded higher rent charges than our store operating model
enabled us to pay. During 2009, the commercial real estate market softened and we were able to favorably
negotiate renewals for certain store leases which previously may have resulted in store closures. Also during
2009, we successfully negotiated a number of new store leases as the availability of space improved and rental
rates eased. For additional information about our real estate strategy, see the accompanying MD&A.
The following table details our stores by state at January 30, 2010:
Alabama . . . . . . 26 Maine . . . . . . . . . . 7 Ohio. . . . . . . . . . . . . 101
Arizona ....... 35 Maryland ........ 13 Oklahoma ........ 16
Arkansas ...... 11 Massachusetts .... 15 Oregon .......... 12
California . . . . . 174 Michigan ........ 40 Pennsylvania ...... 67
Colorado ...... 20 Minnesota ....... 4 Rhode Island ...... 1
Connecticut .... 8Mississippi . . . . . . 15 South Carolina . . . . 30
Delaware ...... 3Missouri ........ 24 Tennessee ........ 46
Florida ........ 107 Montana ........ 1 Texas ............ 114
Georgia . . . . . . . 57 Nebraska ........ 4Utah ............. 11
Idaho ......... 5Nevada ......... 11 Vermont ......... 4
Illinois ........ 33 New Hampshire . . 6 Virginia .......... 36
Indiana . . . . . . . 43 New Jersey . . . . . . 13 Washington ....... 20
Iowa .......... 3 New Mexico . . . . . 13 West Virginia . . . . . 18
Kansas ........ 9 New York . . . . . . . 47 Wisconsin ........ 10
Kentucky ...... 40 North Carolina . . . 63 Wyoming ......... 2
Louisiana ...... 22 North Dakota . . . . 1 Total stores ....... 1,361
Number of states . . 47
Of our 1,361 stores, 36% operate in four states: California, Texas, Ohio, and Florida, and net sales from stores in
these states represented 38% of our 2009 net sales.
Associates
At January 30, 2010, we had approximately 35,600 active associates comprised of 13,100 full-time and 22,500
part-time associates. Temporary associates hired during the fall and winter holiday selling season increased the
number of associates to a peak of 39,200 in 2009. Approximately 63% of the associates employed throughout the
year are employed on a part-time basis. We consider our relationship with our associates to be good, and we are
not a party to any labor agreements.