GameStop Corp
For the period ended Feb 3, 2024. Filed Mar 26, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 26, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 2. Properties
All of our retail stores are leased. Store leases typically provide for a lease term of one to five years, plus renewal options. This arrangement gives us the flexibility to pursue extension or relocation opportunities that arise from changing market conditions. We believe that, as current leases expire, we will be able to obtain either renewals at present locations or leases for similar locations in the same area.
The terms of the store leases for the 4,169 leased stores open as of February 3, 2024 expire as follows.
| Lease Terms to Expire During | Numberof Stores |
|---|---|
| Fiscal 2024 | 1,350 |
| Fiscal 2025 | 928 |
| Fiscal 2026 | 580 |
| Fiscal 2027 | 481 |
| Fiscal 2028 and later | 830 |
| Total | 4,169 |
As of February 3, 2024, we owned two and leased 12 office and distribution facilities, totaling approximately 2.0 million square feet. The lease expiration dates for the leased facilities range from 2024 to 2032, with an average remaining lease life, including reasonably certain options, of approximately six years.
The following table presents our principal facilities. Additional information regarding our properties can be found in Item 1, “Business—Store Locations” in this Form 10-K.
| Location | Segment | SquareFootage | Owned orLeased | Use |
|---|---|---|---|---|
| Grapevine, Texas, USA | United States | 360,000 | Leased | Distribution and administration |
| Grapevine, Texas, USA | United States | 182,000 | Leased | Manufacturing and distribution |
| York, Pennsylvania, USA(1) | United States | 708,000 | Leased | Fulfillment and distribution |
| Brampton, Ontario, Canada | Canada | 119,000 | Leased | Distribution and administration |
| Eagle Farm, Queensland, Australia | Australia | 185,000 | Leased | Distribution and administration |
| Milan, Italy | Europe | 123,000 | Owned | Distribution and administration |
(1)In January of 2023, we announced plans to close the Shepherdsville, Kentucky distribution facility to consolidate our fulfillment activities. This was completed in fiscal 2023. In January of 2024, we announced plans to close the York, Pennsylvania distribution facility, which will consolidate U.S. fulfillment activities to our Grapevine, Texas facility during the first quarter of fiscal 2024.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.