Item 2. Properties
Item 2. PROPERTIES
Facilities
We lease various office space in New Jersey, Missouri, and India and we lease warehouse space in Missouri.
For our physical campus retail operations, we typically have the exclusive right to operate the official physical school bookstore on college campuses through multi-year management operating agreements with our schools. In turn, we pay the school a percentage of store sales and, in some cases, a minimum fixed guarantee. These contracts with colleges and universities are typically five years with renewal options, but can range from one to 17 years, and are typically cancellable by either party without penalty upon advance notice ranging from 90 to 180 days depending on the contract.
As of May 3, 2025, these contracts for the 653 physical stores that we operate expire as follows:
Contract Terms to Expire During
(12 months ending on or about April 30) Number of Physical Campus Stores
2026
94
2027 86
2028 54
2029 39
2030 245
2031 and later 135
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Index to Form 10-K Index to FS
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.