GameStop Corp.
For the period ended Feb 1, 2025. Filed Mar 25, 2025.
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FY2025 · Filed Mar 25, 2025
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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 3,203 leased stores open as of February 1, 2025 expire as follows.
| Lease Terms to Expire During | Numberof Stores |
|---|---|
| Fiscal 2025 | 1,688 |
| Fiscal 2026 | 771 |
| Fiscal 2027 | 356 |
| Fiscal 2028 | 261 |
| Fiscal 2029 and later | 127 |
As of February 1, 2025, we owned zero and leased 11 distribution facilities, totaling approximately 1.8 million square feet. The lease expiration dates for the leased facilities range from 2025 to 2032, with an average remaining lease life, including reasonably certain options, of approximately six years.
The following table presents our principal facilities(1). 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(1) | United States | 360,000 | Leased | Distribution, administration, and manufacturing |
| Brampton, Ontario, Canada | Canada | 119,000 | Leased | Distribution and administration |
| Eagle Farm, Queensland, Australia | Australia | 185,000 | Leased | Distribution and administration |
| Sophia Antipolis, France | Europe | 18,165 | Leased | Administration |
| Paris, France | Europe | 76,000 | Leased | Distribution |
(1) In fiscal 2024 we closed our York, Pennsylvania distribution facility to consolidate U.S. fulfillment activities to our Grapevine, Texas facility. In fiscal 2024 we divested our operations in Italy, which included our facility in Milan, Italy. In fiscal 2024 we relocated our U.S. refurbishment operations into our distribution and administration facility in Grapevine Texas. Previously these refurbishment operations were performed in a separate facility also located in Grapevine, Texas.
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