Hard to think with declining mall traffic that a store like this isn't going to be impacted. I think this is a big year in revealing the future. I believe almost 200 leases were up so the renewals will be interesting.
Will be watching this update in the next 10-k:
As of February 2, 2013, the Company operated 358 stores under operating leases, some of which have renewal options. The majority of the leases provide for the payment of fixed monthly rentals and expenses for; maintenance, property taxes and insurance, while others provide for the payment of monthly rentals based on a percentage of sales. Certain leases provide for additional rent based on store sales in excess of specified levels. The following table lists the leases due to expire in each of the years shown as of the fiscal year-end, assuming any renewal options are not exercised:
Year No. of
Leases Year No. of
2013 189 2017 14
2014 59 2018 4
2015 78 2019 1
As leases expire, the Company will evaluate the decision to exercise renewal rights or obtain new leases for the same or similar locations based on store profitability.