Ulta Beauty, Inc. 10-K

Item 2. Properties All of our retail stores, distribution centers, fast fulfillment center, market fulfillment centers, and corporate offices are leased or subleased. Retail stores Our retail stores are predominantly located in convenient, high-traffic locations such as power centers. Our typical store is approximately 10,000 square feet, including approximately 950 square feet dedicated to our full-service salon. Most of our retail store leases provide for a fixed minimum annual rent and generally have a 10-year initial term with options for two or three extension periods of five years each, exercisable at our option. As of February 1, 2025, we operated 1,445 retail stores across 50 states, as shown in the table below: ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of ​ ​ ​ Number of Location stores Location stores Alabama ​ 27 ​ Montana ​ 6 Alaska ​ 3 ​ Nebraska ​ 5 Arizona ​ 38 ​ Nevada ​ 16 Arkansas ​ 11 ​ New Hampshire ​ 8 California ​ 174 ​ New Jersey ​ 46 Colorado ​ 27 ​ New Mexico ​ 7 Connecticut ​ 21 ​ New York ​ 58 Delaware ​ 4 ​ North Carolina ​ 48 Florida ​ 102 ​ North Dakota ​ 4 Georgia ​ 44 ​ Ohio ​ 48 Hawaii ​ 4 ​ Oklahoma ​ 23 Idaho ​ 10 ​ Oregon ​ 21 Illinois ​ 56 ​ Pennsylvania ​ 47 Indiana ​ 26 ​ Rhode Island ​ 5 Iowa ​ 12 ​ South Carolina ​ 27 Kansas ​ 14 ​ South Dakota ​ 3 Kentucky ​ 16 ​ Tennessee ​ 34 Louisiana ​ 19 ​ Texas ​ 138 Maine ​ 3 ​ Utah ​ 17 Maryland ​ 29 ​ Vermont ​ 1 Massachusetts ​ 27 ​ Virginia ​ 36 Michigan ​ 50 ​ Washington ​ 37 Minnesota ​ 21 ​ West Virginia ​ 7 Mississippi ​ 12 ​ Wisconsin ​ 22 Missouri ​ 26 ​ Wyoming ​ 5 ​ ​ ​ ​ Total ​ 1,445 ​ ​ 28 Table of Contents Distribution centers, fast fulfillment centers, and market fulfillment centers Our standard distribution center, fast fulfillment center, and market fulfilment center lease provides for a fixed minimum annual rent and generally has a 10 or 15-year initial term with three or four renewal options with terms of five years each. The general location, approximate size, and lease expiration date for each distribution center (DC), fast fulfillment center (FFC) and market fulfillment center (MFC) at February 1, 2025, are set forth below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Approximate ​ Lease Expiration Location Type Square Feet Date Bolingbrook, Illinois ​ MFC ​ 321,132 ​ July 31, 2033 Chambersburg, Pennsylvania ​ DC ​ 503,605 ​ June 30, 2027 Dallas, Texas ​ DC ​ 670,680 ​ July 31, 2026 Fresno, California ​ DC ​ 670,680 ​ July 31, 2028 Greenwood, Indiana ​ DC ​ 670,680 ​ July 31, 2030 Greer, South Carolina ​ MFC ​ 303,580 ​ May 31, 2033 Jacksonville, Florida ​ FFC ​ 203,463 ​ September 30, 2029 Romeoville, Illinois (1) ​ FFC ​ 291,335 ​ May 31, 2026 (1) Not in service as of February 1, 2025 Corporate office Our principal executive office is in Bolingbrook, Illinois. The corporate office is approximately 362,000 square feet with lease terms expiring in 2028. Additionally, we have a satellite corporate office in Chicago, Illinois. The Chicago office is approximately 23,000 square feet with lease expiration in 2026.