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Retail operations office, warehouse and distribution facility
+Added: As a result of the restructuring of our retail operations segment, the lease at our Brooklyn Park, Minnesota warehouse and distribution facility is expiring in April 2022 and will not be renewed.
+Added: Our inventory, shipping and logistics needs for our retail operations segment will be operated from our other distribution centers.
Retail Stores
As of January 31, 2022, we operated 96 Vilebrequin retail stores and 60 DKNY and Karl Lagerfeld Paris stores.
−Removed: In addition, we operated 13 DKNY stores of which we are a 75% owner.
−Removed: During fiscal 2021, we closed 110 Wilsons Leather stores, 89 G.H.
−Removed: Bass stores and 4 Calvin Klein Performance stores in connection with restructuring our retail operations business.
+Added: In addition, we operated 26 DKNY stores in China that are 75% owned by us.
Most leases for retail stores in the United States require us to pay annual minimum rent plus a contingent rent dependent on the store’s annual sales in excess of a specified threshold.
1 unchanged sentence
Retail store leases are typically between three and ten years in duration.
+Added: Recently, store leases have been for shorter durations with an option to terminate if certain sales levels are not met.
Our leases expire at varying dates through 2032.
2 unchanged sentences
DKNY has 30 stores located in the United States, 3 stores located in Canada and 4 stores located in Europe.
−Removed: In addition, DKNY has 13 stores located in Asia through Fabco.
+Added: In addition, DKNY has 26 stores located in Asia operated by Fabco.
The following table indicates the periods during which our retail leases expire:
2 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.