Barnes Noble Education Inc
For the period ended Apr 27, 2024. Filed Jul 1, 2024.
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FY2024 · Filed Jul 1, 2024
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Item 2. Properties
Facilities
We lease various office space in New Jersey, New York, Missouri, and India and we lease warehouse space in Missouri.
For our physical campus retail operations, we typically have the exclusive right to operate the official physical school bookstore on college campuses through multi-year management service agreements with our schools. In turn, we pay the school a percentage of store sales and, in some cases, a minimum fixed guarantee. These contracts with colleges and universities are typically five years with renewal options, but can range from one to 15 years, and are typically cancellable by either party without penalty with 90 to 120 days' notice.
As of April 27, 2024, these contracts for the 707 physical stores that we operate expire as follows:
| Contract Terms to Expire During (12 months ending on or about April 30) | Number of Physical Campus Stores |
|---|---|
| 2025 | 79 |
| 2026 | 91 |
| 2027 | 69 |
| 2028 | 53 |
| 2029 | 39 |
| 2030 and later | 376 |
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