1 unchanged sentence
The average unexpired lease term for our stores is approximately 1.9 years in the United States, Puerto Rico, and Canada.
−Removed: Generally, we enter into initial lease terms ranging between 1 - 10 years at inception and provide for contingent rent based on sales in excess of specific minimums.
+Added: Generally, we enter into initial lease terms for our stores ranging between 1 - 10 years at inception and provide for contingent rent based on sales in excess of specific minimums.
We anticipate that we will be able to extend those leases which we wish to extend on satisfactory terms as they expire or relocate to more desirable locations.
4 unchanged sentences
Store Distribution Center / E-commerce Fulfillment Center 700,000 Owned
−Removed: Ontario, Canada (2)
−Removed: Store Distribution Center / E-commerce Fulfillment Center 95,000 4/30/2024
+Added: Stevenson, AL (1)
+Added: Offsite Storage 450,000 1/31/2026
+Added: Oxford, AL (1) (5)
+Added: Offsite Storage 122,000 3/31/2025
+Added: Scottsboro, AL (1)
+Added: Offsite Storage 303,000 7/31/2026
+Added: Fort Payne, AL (1) (2)
+Added: Offsite Storage 569,000 1/31/2027
Hong Kong, China (3)
2 unchanged sentences
Corporate Offices 120,000 5/31/2037
−Removed: 500 Plaza Drive, Secaucus, NJ (5)
+Added: Lahore, Pakistan (4)
Corporate Offices 20,000 11/30/2034
____________________________________________
−Removed: (1) Supports our U.S.
−Removed: stores, wholesale, and e-commerce business.
−Removed: (2) Supports our Canadian stores and our Canadian e-commerce business.
−Removed: We moved these operations to the United States to our current distribution center in Alabama as of the end of the first quarter of Fiscal 2024.
−Removed: (3) Supports our U.S.
−Removed: stores, our e-commerce business, our Canadian stores, our international franchisees, and wholesale business.
−Removed: (4) We signed a new lease in January 2024 under more favorable terms, which expires in May 2037, with a termination right after the seventh year, and two five-year renewal options at fair market value.
+Added: (1) Supports our stores, wholesale, and e-commerce business in both the U.S.
+Added: (2) Includes four separate offsite storage facility locations.
(3) Supports our U.S.
stores, our e-commerce business, our Canadian stores, our international franchisees, and wholesale business.
−Removed: The current lease expires on May 31, 2024 but will continue on a month-to-month basis until May 31, 2025, which we can terminate by providing the landlord with a 60-day notice period.
−Removed: We also use a third-party provider operating a 315,000 square foot distribution center in Indiana and a 184,000 square foot distribution center in Ontario, Canada to support our U.S.
+Added: (4) Supports back-office functions, sourcing services and other business and corporate matters as needed.
+Added: The corporate office is expected to be fully operational in the second quarter of Fiscal 2025.
+Added: (5) The current lease expired on March 31, 2025 and is expected to be renewed until June 30, 2025.
+Added: We also use a third-party provider operating a 315,000 square foot distribution center in Indiana and 184,000 square foot distribution center in Ontario, Canada to support our U.S.
and Canadian e-commerce fulfillment operations, respectively.
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.