Family Dollar 2012 Annual Report Download - page 23

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The number of stores we operated at the end of each of our last five fiscal years was:
Fiscal Year
Number of
Stores at
Year End
2008 ............................................................ 6,571
2009 ............................................................ 6,655
2010 ............................................................ 6,785
2011 ............................................................ 7,023
2012 ............................................................ 7,442
During fiscal 2012, we opened 475 stores, closed 56 stores, and renovated, relocated or expanded 854
stores. From August 25, 2012, through September 29, 2012, we opened 34 new stores, closed 1 store, and
renovated, relocated or expanded 52 stores.
As of September 29, 2012, we owned 367 of the total 7,475 stores we operate. Most of our leases have an
initial term of five or ten years and provide for fixed rentals, and most of our leases require additional payments
based upon a percentage of sales, property taxes, insurance premiums, or common area maintenance charges.
Of our 7,108 leased stores at September 29, 2012, all but 434 leases grant us options to renew for additional
terms, in most cases for a number of successive five-year periods. The following table sets forth certain data
concerning the expiration dates of all leases with renewal options as of September 29, 2012:
Fiscal Years
Approximate Number
of Leases Expiring
Assuming No Exercise
of Renewal Options
Approximate Number
of Leases Expiring
Assuming Full
Exercise of Renewal
Options
2013 .......................................... 892 75
2014-2016 ...................................... 3,413 269
2017-2019 ...................................... 1,651 359
2020-2022 ...................................... 784 489
2023 and thereafter ............................... 368 5,916
We own our Store Support Center and a distribution center located on a 108-acre tract of land in Matthews,
North Carolina, just outside of Charlotte, in three buildings containing approximately 1.24 million square
feet. We use approximately 930,000 square feet for the distribution center, which includes receiving,
warehousing, shipping, and storage facilities, and we use approximately 310,000 square feet for the Store
Support Center.
We also own nine additional full-service distribution centers, described in the table below:
Facility Size
Distribution Center Land Building Date Operational
West Memphis, AR ........................... 75acres 850,000 sq. ft. April 1994
Front Royal, VA ............................. 108acres 907,000 sq. ft. January 1998
Duncan, OK ................................. 85acres 907,000 sq. ft. July 1999
Morehead, KY ............................... 94acres 907,000 sq. ft. June 2000
Maquoketa, IA ............................... 74acres 907,000 sq. ft. March 2002
Odessa, TX ................................. 89acres 907,000 sq. ft. July 2003
Marianna, FL ................................ 76acres 907,000 sq. ft. January 2005
Rome, NY .................................. 87acres 907,000 sq. ft. April 2006
Ashley, IN .................................. 89acres 814,019 sq. ft. June 2012
In addition, we began construction on our eleventh distribution center in St. George, Utah, in the summer of
fiscal 2012.
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