RH
For the period ended Feb 3, 2024. Filed Mar 28, 2024.
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FY2024 · Filed Mar 28, 2024
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Item 2. Properties
Leased Properties
The following table summarizes the total leased gross square footage of our leased properties as of February 3, 2024:
| | | | | |
|---|---|---|---|---|
| | | | | LEASED GROSSSQUARE FOOTAGE |
| · COUNT · (approximate, in thousands) | ||||
| Retail locations(1)(2) | | 82 | | 2,115 |
| Outlets | | 42 | | 1,289 |
| (1) | Retail locations include the Design Galleries, Legacy Galleries, Modern Gallery, Baby & Child and TEEN Galleries and Waterworks Showrooms. Refer to “Retail Locations” within Item 1—Business. |
| (2) | Excludes location count and leased gross square footage for owned properties. |
The following table summarizes the location and size of our leased fulfillment centers, home delivery center locations and corporate facilities occupied as of February 3, 2024:
| | | |
|---|---|---|
| · LEASED SQUARE FOOTAGE | ||
| LOCATION | | (approximate, in thousands) |
| RH Furniture Fulfillment Centers | ||
| Patterson, California | 1,501 | |
| Baltimore, Maryland | 1,788 | |
| Ontario, California | | 1,001 |
| RH Small-Parcel Fulfillment Center | ||
| West Jefferson, Ohio(1) | 1,224 | |
| Home Delivery Center Locations(2) | 1,294 | |
| Waterworks Fulfillment Center | ||
| Brookfield, Connecticut | 160 | |
| Corporate Facilities | ||
| Corte Madera, California(1)(3) | 263 | |
| Pinole, California(4) | 200 | |
| Danbury, Connecticut(5) | 26 | |
| Other | 355 | |
| (1) | Customer service center and home delivery operations are also performed at this location. |
| (2) | Includes total approximate leased square footage for 21 separate home delivery center locations. |
| (3) | Location of RH Headquarters. Includes approximately 10,000 square feet of warehouse space. |
| (4) | Represents warehouse space. |
| (5) | Location of Waterworks Headquarters. |
We believe that our current offices and facilities are in good condition, are being used productively and are adequate to meet our requirements for the foreseeable future.
For additional information regarding leases, refer to “Lease Accounting” within Note 3—Significant Accounting Policies and Note 10—Leases in our consolidated financial statements within Part II of this Annual Report.
In addition to the above, we have one third-party fulfillment center and three third-party home delivery center locations in Europe.
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Owned Property
We own ten properties, eight of which are owned through our consolidated variable interest entities. Eight locations represent current and future RH locations and are included in the RH Segment, two of which are operational as of February 3, 2024. Two locations represent properties for the purpose of use by RH or others related to developing, operating and selling such real estate, and are part of the Real Estate segment. Refer to Note 7—Variable Interest Entitiesin our consolidated financial statements within Part II of this Annual Report.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.