As of January 24, 2025, the principal properties of the Company included its corporate headquarters, subsidiary headquarters, 60 distribution centers and 10 manufacturing plants.
−Removed: The Company owns 47 distribution centers and nine manufacturing plants, and leases its corporate headquarters, subsidiary headquarters, 13 distribution centers and one manufacturing plant.
+Added: The Company owns 47 distribution centers and all 10 manufacturing plants, and leases its corporate headquarters, subsidiary headquarters, and 13 distribution centers.
+Added: During 2024, the Company purchased its Nashville, Tennessee production facility, which was previously leased, for approximately $56 million.
Following is a summary of the Company’s manufacturing plants and certain other properties:
18 unchanged sentences
Distribution Center Clayton, NC 233,000 Leased 2026
−Removed: Manufacturing Plant Nashville, TN 220,000 Leased 2029
+Added: Manufacturing Plant Nashville, TN 220,000 Owned —
Distribution Center La Vergne, TN 220,000 Leased 2026
3 unchanged sentences
Manufacturing Plant Baltimore, MD 155,000 Owned —
+Added: Distribution Center (4)
+Added: Columbus, OH 124,000 Owned —
Manufacturing Plant Silver Spring, MD 104,000 Owned —
2 unchanged sentences
(3) The lease for this facility is with a related party.
+Added: (4) In February 2025, this facility will be replaced with a new distribution center totaling approximately 430,000 square feet.
The Company believes all of its facilities are in good condition and are adequate for the Company’s operations as presently conducted.
The Company has production capacity to meet its current operational requirements.
−Removed: The estimated utilization percentage of the Company’s manufacturing plants, which fluctuates with the seasonality of the business, as of December 31, 2023, is indicated below:
−Removed: Location Utilization (1)
−Removed: Location Utilization (1)
−Removed: Roanoke, VA 94 % Cincinnati, OH 80 %
−Removed: Nashville, TN 83 % Charlotte, NC 76 %
−Removed: Indianapolis, IN 82 % West Memphis, AR 72 %
−Removed: Silver Spring, MD 81 % Sandston, VA 72 %
−Removed: Baltimore, MD 80 % Twinsburg, OH 58 %
−Removed: (1) Estimated production divided by capacity, based on expected operations of six days per week and 20 hours per day.
+Added: For the fiscal year ended December 31, 2024, the aggregate utilization rate of the Company’s manufacturing plants, which fluctuates with the seasonality of the business, was approximately 89%.
+Added: The estimated utilization is based on actual production divided by capacity, based on an expected operation rate of six days per week and 20 hours per day.
In addition to the facilities noted above, the Company utilizes a portion of the production capacity from the 261,000-square foot manufacturing plant owned by SAC, a manufacturing cooperative located in Bishopville, South Carolina.
4 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.