BUILD-A-BEAR WORKSHOP INC 10-K

ITEM 2. PROPERTIES Stores We lease all our store locations. As of January 31, 2026, we operated 375 retail stores located primarily in major malls throughout the U.S., Canada, the U.K., and Ireland in our DTC segment. Non-Store Properties We own a warehouse and distribution center in Groveport, Ohio, which is utilized primarily by our DTC segment. The facility is approximately 350,000 square feet and includes our North American e-commerce fulfillment center. We lease 51,600 square feet in a building that we use as our corporate headquarters in downtown St. Louis, Missouri with a lease of eleven years commencing in June 2020. This lease w as modified in March 2024 to increase the square footage of our corporate headquarters to approximately 58,000 square feet without changing the term length. We also lease an approximately 1,870 square foot storage space in St. Louis, Missouri with the lease commencing in July 2023 and continuing through July 2028. In the U.K., we lease approximately 6,500 square feet for our regional headquarters in Slough, England under a lease that commenced in March 2016 with a term of 10 years. The lease was extended recently through March 2031. We also contra ct with a third-party warehouse in southern California to service our West Coast stor es. The contract has a one-year term and is renewable. In Europe, we contract with a third-party distribution center in Selby, England under an agreement that ende d in January 2026. Th is agreement contained clauses that allow for termination if certain performance criteria were not met. We are now operating under a month-to-month arrangement with both parties working towards signing a new agreement. In Asia, we contract for office space and a third-party distribution center in Shanghai, China, with the office space contract ending in August 2026 and the distribution center contract ending in April 2026.