x
|
Quarterly report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934
|
¨
|
Transition report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934
|
Delaware
|
|
36-2512786
|
(State or Other Jurisdiction of
Incorporation of Organization) |
|
(I.R.S. Employer
Identification No.) |
|
|
|
1 Lands’ End Lane
Dodgeville, Wisconsin
|
|
53595
|
(Address of Principal Executive Offices)
|
|
(Zip Code)
|
Large accelerated filer
|
|
¨
|
Accelerated filer
|
¨
|
|
|
|
|
|
Non-accelerated filer
|
|
x
|
Smaller Reporting Company
|
¨
|
|
|
|
|
Page
|
|
|
|
|
|
|
|
PART I – FINANCIAL INFORMATION
|
|
|
|
|
|
|
|
Item 1.
|
|
Financial Statements (Unaudited)
|
|
|
|
|
|
|
|
|
|
Condensed Consolidated and Combined Statements of Operations
|
|
|
|
|
|
|
|
|
|
Condensed Consolidated and Combined Statements of Comprehensive Operations
|
|
|
|
|
|
|
|
|
|
Condensed Consolidated Balance Sheets
|
|
|
|
|
|
|
|
|
|
Condensed Consolidated and Combined Statements of Cash Flows
|
|
|
|
|
|
|
|
|
|
Condensed Consolidated and Combined Statements of Changes in Stockholders' Equity
|
|
|
|
|
|
|
|
|
|
Notes to Condensed Consolidated and Combined Financial Statements
|
|
|
|
|
|
|
|
Item 2.
|
|
Management’s Discussion and Analysis of Financial Condition and Results of Operations
|
|
|
|
|
|
|
|
Item 3.
|
|
Quantitative and Qualitative Disclosures about Market Risk
|
|
|
|
|
|
|
|
Item 4.
|
|
Controls and Procedures
|
|
|
|
|
|
|
|
|
|
PART II – OTHER INFORMATION
|
|
|
|
|
|
|
|
Item 1.
|
|
Legal
Proceedings
|
|
|
|
|
|
|
|
Item 1A.
|
|
Risk Factors
|
|
|
|
|
|
|
|
Item 2.
|
|
Unregistered Sales of Equity Securities and Use of Proceeds
|
|
|
|
|
|
|
|
Item 5.
|
|
Other Information
|
|
|
|
|
|
|
|
Item 6.
|
|
Exhibits
|
|
|
|
13 Weeks Ended
|
|
26 Weeks Ended
|
||||||||||||
(in thousands except per share data)
|
|
July 31, 2015
|
|
August 1, 2014
|
|
July 31, 2015
|
|
August 1, 2014
|
||||||||
Net revenue
|
|
$
|
312,414
|
|
|
$
|
347,222
|
|
|
$
|
611,801
|
|
|
$
|
677,705
|
|
Cost of sales (excluding depreciation and amortization)
|
|
167,914
|
|
|
178,816
|
|
|
320,737
|
|
|
347,277
|
|
||||
Gross profit
|
|
144,500
|
|
|
168,406
|
|
|
291,064
|
|
|
330,428
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Selling and administrative
|
|
124,880
|
|
|
138,283
|
|
|
258,394
|
|
|
276,489
|
|
||||
Depreciation and amortization
|
|
4,061
|
|
|
4,825
|
|
|
8,614
|
|
|
9,827
|
|
||||
Other operating (income) expense, net
|
|
(2,359
|
)
|
|
—
|
|
|
(2,357
|
)
|
|
20
|
|
||||
Operating income
|
|
17,918
|
|
|
25,298
|
|
|
26,413
|
|
|
44,092
|
|
||||
Interest expense
|
|
6,225
|
|
|
6,205
|
|
|
12,411
|
|
|
8,130
|
|
||||
Other income, net
|
|
498
|
|
|
203
|
|
|
1,006
|
|
|
340
|
|
||||
Income before income taxes
|
|
12,191
|
|
|
19,296
|
|
|
15,008
|
|
|
36,302
|
|
||||
Income tax expense
|
|
4,730
|
|
|
7,451
|
|
|
5,823
|
|
|
13,589
|
|
||||
NET INCOME
|
|
$
|
7,461
|
|
|
$
|
11,845
|
|
|
$
|
9,185
|
|
|
$
|
22,713
|
|
NET INCOME PER COMMON SHARE (Note 4)
|
|
|
|
|
|
|
|
|
||||||||
Basic:
|
|
$
|
0.23
|
|
|
$
|
0.37
|
|
|
$
|
0.29
|
|
|
$
|
0.71
|
|
Diluted:
|
|
$
|
0.23
|
|
|
$
|
0.37
|
|
|
$
|
0.29
|
|
|
$
|
0.71
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Basic weighted average common shares outstanding
|
|
31,978
|
|
|
31,957
|
|
|
31,967
|
|
|
31,957
|
|
||||
Diluted weighted average common shares outstanding
|
|
32,047
|
|
|
31,962
|
|
|
32,049
|
|
|
31,959
|
|
|
|
13 Weeks Ended
|
|
26 Weeks Ended
|
||||||||||||
(in thousands)
|
|
July 31, 2015
|
|
August 1, 2014
|
|
July 31, 2015
|
|
August 1, 2014
|
||||||||
NET INCOME
|
|
$
|
7,461
|
|
|
$
|
11,845
|
|
|
$
|
9,185
|
|
|
$
|
22,713
|
|
Other comprehensive income (loss), net of tax
|
|
|
|
|
|
|
|
|
||||||||
Foreign currency translation adjustments
|
|
302
|
|
|
(497
|
)
|
|
665
|
|
|
382
|
|
||||
COMPREHENSIVE INCOME
|
|
$
|
7,763
|
|
|
$
|
11,348
|
|
|
$
|
9,850
|
|
|
$
|
23,095
|
|
(in thousands, except share data)
|
|
July 31, 2015
|
|
August 1, 2014
|
|
January 30, 2015
|
||||||
ASSETS
|
|
|
|
|
|
|
||||||
Current assets
|
|
|
|
|
|
|
||||||
Cash and cash equivalents
|
|
$
|
208,375
|
|
|
$
|
132,837
|
|
|
$
|
221,454
|
|
Restricted cash
|
|
3,300
|
|
|
3,300
|
|
|
3,300
|
|
|||
Accounts receivable, net
|
|
22,550
|
|
|
24,818
|
|
|
30,073
|
|
|||
Inventories, net
|
|
367,823
|
|
|
366,192
|
|
|
301,367
|
|
|||
Deferred tax assets
|
|
—
|
|
|
—
|
|
|
3,438
|
|
|||
Prepaid expenses and other current assets
|
|
35,182
|
|
|
28,060
|
|
|
31,408
|
|
|||
Total current assets
|
|
637,230
|
|
|
555,207
|
|
|
591,040
|
|
|||
Property and equipment, net
|
|
105,976
|
|
|
98,574
|
|
|
101,223
|
|
|||
Goodwill
|
|
110,000
|
|
|
110,000
|
|
|
110,000
|
|
|||
Intangible assets, net
|
|
528,300
|
|
|
530,027
|
|
|
528,712
|
|
|||
Other assets
|
|
21,858
|
|
|
23,286
|
|
|
22,462
|
|
|||
TOTAL ASSETS
|
|
$
|
1,403,364
|
|
|
$
|
1,317,094
|
|
|
$
|
1,353,437
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY
|
|
|
|
|
|
|
||||||
Current liabilities
|
|
|
|
|
|
|
||||||
Accounts payable
|
|
$
|
192,472
|
|
|
$
|
163,249
|
|
|
$
|
132,796
|
|
Deferred tax liabilities
|
|
2,332
|
|
|
3,681
|
|
|
—
|
|
|||
Other current liabilities
|
|
88,980
|
|
|
97,845
|
|
|
107,553
|
|
|||
Total current liabilities
|
|
283,784
|
|
|
264,775
|
|
|
240,349
|
|
|||
Long-term debt
|
|
503,413
|
|
|
508,563
|
|
|
505,988
|
|
|||
Long-term deferred tax liabilities
|
|
183,830
|
|
|
170,461
|
|
|
184,483
|
|
|||
Other liabilities
|
|
17,218
|
|
|
15,839
|
|
|
18,424
|
|
|||
TOTAL LIABILITIES
|
|
988,245
|
|
|
959,638
|
|
|
949,244
|
|
|||
Commitments and contingencies
|
|
|
|
|
|
|
||||||
STOCKHOLDERS' EQUITY
|
|
|
|
|
|
|
||||||
Common stock, par value $0.01- authorized: 480,000,000 shares; issued and outstanding: 31,991,100, 31,956,521, 31,956,521
|
|
320
|
|
|
320
|
|
|
320
|
|
|||
Additional paid-in capital
|
|
343,370
|
|
|
340,958
|
|
|
342,294
|
|
|||
Retained earnings
|
|
78,062
|
|
|
17,791
|
|
|
68,877
|
|
|||
Accumulated other comprehensive loss
|
|
(6,633
|
)
|
|
(1,613
|
)
|
|
(7,298
|
)
|
|||
Total stockholders’ equity
|
|
415,119
|
|
|
357,456
|
|
|
404,193
|
|
|||
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
|
|
$
|
1,403,364
|
|
|
$
|
1,317,094
|
|
|
$
|
1,353,437
|
|
|
|
26 Weeks Ended
|
||||||
(in thousands)
|
|
July 31, 2015
|
|
August 1, 2014
|
||||
CASH FLOWS FROM OPERATING ACTIVITIES
|
|
|
|
|
||||
Net income
|
|
$
|
9,185
|
|
|
$
|
22,713
|
|
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
|
|
|
|
|
||||
Depreciation and amortization
|
|
8,614
|
|
|
9,827
|
|
||
Product recall
|
|
(2,364
|
)
|
|
—
|
|
||
Amortization of debt issuance costs
|
|
885
|
|
|
621
|
|
||
Stock-based compensation
|
|
1,521
|
|
|
782
|
|
||
Loss on disposal of property and equipment
|
|
2
|
|
|
20
|
|
||
Deferred income taxes
|
|
4,757
|
|
|
4,250
|
|
||
Change in operating assets and liabilities:
|
|
|
|
|
||||
Inventories
|
|
(65,667
|
)
|
|
4,801
|
|
||
Accounts payable
|
|
60,609
|
|
|
50,319
|
|
||
Other operating assets
|
|
2,829
|
|
|
9,012
|
|
||
Other operating liabilities
|
|
(16,925
|
)
|
|
2,842
|
|
||
Net cash (used in) provided by operating activities
|
|
3,446
|
|
|
105,187
|
|
||
CASH FLOWS FROM INVESTING ACTIVITIES
|
|
|
|
|
||||
Purchases of property and equipment
|
|
(13,520
|
)
|
|
(5,716
|
)
|
||
Net cash used in investing activities
|
|
(13,520
|
)
|
|
(5,716
|
)
|
||
CASH FLOWS FROM FINANCING ACTIVITIES
|
|
|
|
|
||||
Contributions from Sears Holdings, net
|
|
—
|
|
|
8,784
|
|
||
Proceeds from issuance of long-term debt
|
|
—
|
|
|
515,000
|
|
||
Payments on term loan facility
|
|
(2,575
|
)
|
|
(1,287
|
)
|
||
Debt issuance costs
|
|
—
|
|
|
(11,396
|
)
|
||
Dividend paid to a subsidiary of Sears Holdings Corporation
|
|
—
|
|
|
(500,000
|
)
|
||
Net cash (used in) provided by financing activities
|
|
(2,575
|
)
|
|
11,101
|
|
||
Effects of exchange rate changes on cash
|
|
(430
|
)
|
|
(146
|
)
|
||
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS
|
|
(13,079
|
)
|
|
110,426
|
|
||
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
|
|
221,454
|
|
|
22,411
|
|
||
CASH AND CASH EQUIVALENTS, END OF PERIOD
|
|
$
|
208,375
|
|
|
$
|
132,837
|
|
SUPPLEMENTAL CASH FLOW INFORMATION:
|
|
|
|
|
||||
Unpaid liability to acquire property and equipment
|
|
$
|
3,235
|
|
|
$
|
1,646
|
|
Income taxes paid
|
|
$
|
13,925
|
|
|
$
|
7,853
|
|
Interest paid
|
|
$
|
11,372
|
|
|
$
|
7,959
|
|
|
Common Stock Issued
|
|
Additional Paid-in
Capital
|
|
Retained
Earnings
|
|
Accumulated Other
Comprehensive Loss
|
|
Net Parent
Company
Investment
|
|
Total
Stockholders'
Equity
|
||||||||||||||||
(in thousands except share data)
|
Shares
|
|
Amount
|
|
|||||||||||||||||||||||
Balance at January 31, 2014
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
(1,995
|
)
|
|
$
|
794,309
|
|
|
$
|
792,314
|
|
|
Net income
|
—
|
|
|
—
|
|
|
—
|
|
|
17,791
|
|
|
—
|
|
|
4,922
|
|
|
22,713
|
|
|||||||
Cumulative translation adjustment, net of tax
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
382
|
|
|
—
|
|
|
382
|
|
|||||||
Stock-based compensation
|
—
|
|
|
—
|
|
|
782
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
782
|
|
|||||||
Contribution from parent company, net
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
8,784
|
|
|
8,784
|
|
|||||||
Dividend paid to parent company
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(500,000
|
)
|
|
(500,000
|
)
|
|||||||
Separation related adjustments
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
32,481
|
|
|
32,481
|
|
|||||||
Reclassification of net parent company investment to common stock and additional paid-in capital in conjunction with the separation
|
31,956,521
|
|
|
320
|
|
|
340,176
|
|
|
—
|
|
|
—
|
|
|
(340,496
|
)
|
|
—
|
|
|||||||
Balance at August 1, 2014
|
$
|
31,956,521
|
|
|
$
|
320
|
|
|
$
|
340,958
|
|
|
$
|
17,791
|
|
|
$
|
(1,613
|
)
|
|
$
|
—
|
|
|
$
|
357,456
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Balance at January 30, 2015
|
31,956,521
|
|
|
$
|
320
|
|
|
$
|
342,294
|
|
|
$
|
68,877
|
|
|
$
|
(7,298
|
)
|
|
$
|
—
|
|
|
$
|
404,193
|
|
|
Net income
|
—
|
|
|
—
|
|
|
—
|
|
|
9,185
|
|
|
—
|
|
|
—
|
|
|
9,185
|
|
|||||||
Cumulative translation adjustment, net of tax
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
665
|
|
|
—
|
|
|
665
|
|
|||||||
Stock-based compensation
|
|
|
—
|
|
|
1,521
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,521
|
|
||||||||
Vesting of restricted stock
|
52,380
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
Restricted stock units surrendered for taxes
|
(17,801
|
)
|
|
—
|
|
|
(445
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(445
|
)
|
|||||||
Balance at July 31, 2015
|
31,991,100
|
|
|
$
|
320
|
|
|
$
|
343,370
|
|
|
$
|
78,062
|
|
|
$
|
(6,633
|
)
|
|
$
|
—
|
|
|
$
|
415,119
|
|
|
|
13 Weeks Ended
|
|
26 Weeks Ended
|
||||||||||||
(in thousands)
|
|
July 31, 2015
|
|
August 1, 2014
|
|
July 31, 2015
|
|
August 1, 2014
|
||||||||
Performance Awards
|
|
$
|
384
|
|
|
$
|
718
|
|
|
$
|
781
|
|
|
$
|
718
|
|
Deferred Awards
|
|
456
|
|
|
64
|
|
|
740
|
|
|
64
|
|
||||
Total stock-based compensation expense
|
|
$
|
840
|
|
|
$
|
782
|
|
|
$
|
1,521
|
|
|
$
|
782
|
|
(in thousands, except per share amounts)
|
|
Number of Shares
|
|
Weighted Average Grant Date Fair Value
|
|||
Unvested Deferred Awards, beginning of period
|
|
44
|
|
|
$
|
28.01
|
|
Granted
|
|
144
|
|
|
32.51
|
|
|
Vested
|
|
(9
|
)
|
|
28.02
|
|
|
Forfeited
|
|
(7
|
)
|
|
27.14
|
|
|
Unvested Deferred Awards, end of period
|
|
172
|
|
|
31.80
|
|
(in thousands, except per share amounts)
|
|
Number of Shares
|
|
Weighted Average Grant Date Fair Value
|
|||
Unvested Performance Awards, beginning of period
|
|
197
|
|
|
$
|
28.01
|
|
Granted
|
|
—
|
|
|
—
|
|
|
Vested
|
|
(43
|
)
|
|
27.86
|
|
|
Forfeited
|
|
(25
|
)
|
|
29.00
|
|
|
Unvested Performance Awards, end of period
|
|
129
|
|
|
27.86
|
|
|
|
13 Weeks Ended
|
|
26 Weeks Ended
|
||||||||||||
(in thousands, except per share amounts)
|
|
July 31, 2015
|
|
August 1, 2014
|
|
July 31, 2015
|
|
August 1, 2014
|
||||||||
Net income
|
|
$
|
7,461
|
|
|
$
|
11,845
|
|
|
$
|
9,185
|
|
|
$
|
22,713
|
|
|
|
|
|
|
|
|
|
|
||||||||
Basic weighted average shares outstanding
|
|
31,978
|
|
|
31,957
|
|
|
31,967
|
|
|
31,957
|
|
||||
Dilutive effect of stock awards
|
|
69
|
|
|
5
|
|
|
82
|
|
|
2
|
|
||||
Diluted weighted average shares outstanding
|
|
32,047
|
|
|
31,962
|
|
|
32,049
|
|
|
31,959
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Basic earnings per share
|
|
$
|
0.23
|
|
|
$
|
0.37
|
|
|
$
|
0.29
|
|
|
$
|
0.71
|
|
Diluted earnings per share
|
|
$
|
0.23
|
|
|
$
|
0.37
|
|
|
$
|
0.29
|
|
|
$
|
0.71
|
|
|
|
13 Weeks Ended
|
|
26 Weeks Ended
|
||||||||||||
(in thousands)
|
|
July 31, 2015
|
|
August 1, 2014
|
|
July 31, 2015
|
|
August 1, 2014
|
||||||||
Beginning balance: Accumulated other comprehensive loss (net of tax of $3,734, $684, $3,931 and $1,211, respectively)
|
|
$
|
(6,935
|
)
|
|
$
|
(1,116
|
)
|
|
$
|
(7,298
|
)
|
|
$
|
(1,995
|
)
|
Other comprehensive income:
|
|
|
|
|
|
|
|
|
|
|
||||||
Foreign currency translation adjustments (net of tax (expense) benefit of $(163), $304, $(360) and $(223), respectively)
|
|
302
|
|
|
(497
|
)
|
|
665
|
|
|
382
|
|
||||
Ending balance: Accumulated other comprehensive loss (net of tax of $3,571, $988, $3,571 and $988, respectively)
|
|
$
|
(6,633
|
)
|
|
$
|
(1,613
|
)
|
|
$
|
(6,633
|
)
|
|
$
|
(1,613
|
)
|
|
|
July 31, 2015
|
|
August 1, 2014
|
|
January 30, 2015
|
|||||||||||||||
|
|
Amount
|
|
Rate
|
|
Amount
|
|
Rate
|
|
Amount
|
|
Rate
|
|||||||||
Term Loan Facility, maturing April 4, 2021
|
|
$
|
508,563
|
|
|
4.25
|
%
|
|
$
|
513,713
|
|
|
4.25
|
%
|
|
$
|
511,138
|
|
|
4.25
|
%
|
ABL Facility, maturing April 4, 2019
|
|
—
|
|
|
—
|
%
|
|
—
|
|
|
—
|
%
|
|
—
|
|
|
—
|
%
|
|||
|
|
508,563
|
|
|
|
|
513,713
|
|
|
|
|
511,138
|
|
|
|
||||||
Less: Current maturities in Other current liabilities
|
|
5,150
|
|
|
|
|
5,150
|
|
|
|
|
5,150
|
|
|
|
||||||
Long-term debt
|
|
$
|
503,413
|
|
|
|
|
$
|
508,563
|
|
|
|
|
$
|
505,988
|
|
|
|
|
|
July 31, 2015
|
|
August 1, 2014
|
|
January 30, 2015
|
||||||||||||||||||
(in thousands)
|
|
Carrying
Amount
|
|
Fair
Value
|
|
Carrying
Amount |
|
Fair
Value |
|
Carrying
Amount |
|
Fair
Value |
||||||||||||
Long-term debt, including short-term portion
|
|
$
|
508,563
|
|
|
$
|
486,949
|
|
|
$
|
513,713
|
|
|
$
|
510,502
|
|
|
$
|
511,138
|
|
|
$
|
491,331
|
|
|
|
13 Weeks Ended
|
|
26 Weeks ended
|
||||||||||||
(in thousands)
|
|
July 31, 2015
|
|
August 1, 2014
|
|
July 31, 2015
|
|
August 1, 2014
|
||||||||
Amortization expense
|
|
$
|
—
|
|
|
$
|
658
|
|
|
$
|
412
|
|
|
$
|
1,315
|
|
|
|
|
|
July 31, 2015
|
|
August 1, 2014
|
|
January 30, 2015
|
||||||||||||||||||
(in thousands)
|
|
Useful Life
|
|
Gross Carrying Amount
|
|
Accumulated Amortization
|
|
Gross Carrying Amount
|
|
Accumulated Amortization
|
|
Gross Carrying Amount
|
|
Accumulated Amortization
|
||||||||||||
Amortizing intangible assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Customer lists
|
|
10
|
|
$
|
26,300
|
|
|
$
|
26,300
|
|
|
$
|
26,300
|
|
|
$
|
24,573
|
|
|
$
|
26,300
|
|
|
$
|
25,888
|
|
Indefinite-lived intangible assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Trade names
|
|
|
|
528,300
|
|
|
—
|
|
|
528,300
|
|
|
—
|
|
|
528,300
|
|
|
—
|
|
||||||
Gross intangible assets
|
|
|
|
$
|
554,600
|
|
|
$
|
26,300
|
|
|
$
|
554,600
|
|
|
$
|
24,573
|
|
|
$
|
554,600
|
|
|
$
|
25,888
|
|
Total intangible assets, net
|
|
|
|
$
|
528,300
|
|
|
|
|
$
|
530,027
|
|
|
|
|
$
|
528,712
|
|
|
|
||||||
Goodwill
|
|
|
|
$
|
110,000
|
|
|
|
|
$
|
110,000
|
|
|
|
|
$
|
110,000
|
|
|
|
|
|
13 Weeks Ended
|
|
26 Weeks Ended
|
||||||||||||
(in thousands)
|
|
July 31, 2015
|
|
August 1, 2014
|
|
July 31, 2015
|
|
August 1, 2014
|
||||||||
Retail services, store labor
|
|
$
|
6,676
|
|
|
$
|
7,662
|
|
|
$
|
13,277
|
|
|
$
|
15,309
|
|
Rent, CAM and occupancy costs
|
|
6,532
|
|
|
6,754
|
|
|
12,882
|
|
|
13,593
|
|
||||
Financial services and payment processing
|
|
627
|
|
|
700
|
|
|
1,250
|
|
|
1,431
|
|
||||
Supply chain costs
|
|
272
|
|
|
222
|
|
|
549
|
|
|
505
|
|
||||
Total expenses
|
|
$
|
14,107
|
|
|
$
|
15,338
|
|
|
$
|
27,958
|
|
|
$
|
30,838
|
|
Number of Lands’ End Shops at Sears at period end
|
|
229
|
|
|
247
|
|
|
229
|
|
|
247
|
|
|
|
13 Weeks Ended
|
|
26 Weeks Ended
|
||||||||||||
(in thousands)
|
|
July 31, 2015
|
|
August 1, 2014
|
|
July 31, 2015
|
|
August 1, 2014
|
||||||||
Sourcing
|
|
$
|
2,454
|
|
|
$
|
1,875
|
|
|
$
|
4,038
|
|
|
$
|
3,736
|
|
Shop Your Way
|
|
730
|
|
|
1,034
|
|
|
1,255
|
|
|
2,048
|
|
||||
Shared services
|
|
131
|
|
|
126
|
|
|
281
|
|
|
259
|
|
||||
Co-location and services
|
|
—
|
|
|
7
|
|
|
—
|
|
|
13
|
|
||||
Total expenses
|
|
$
|
3,315
|
|
|
$
|
3,042
|
|
|
$
|
5,574
|
|
|
$
|
6,056
|
|
|
|
13 Weeks Ended
|
|
26 Weeks Ended
|
||||||||||||
(in thousands)
|
|
July 31, 2015
|
|
August 1, 2014
|
|
July 31, 2015
|
|
August 1, 2014
|
||||||||
Call center services
|
|
$
|
455
|
|
|
$
|
631
|
|
|
$
|
669
|
|
|
$
|
857
|
|
Lands' End business outfitters revenue
|
|
317
|
|
|
482
|
|
|
720
|
|
|
1,232
|
|
||||
Credit card revenue (expense)
|
|
281
|
|
|
313
|
|
|
568
|
|
|
672
|
|
||||
Royalty income
|
|
103
|
|
|
35
|
|
|
124
|
|
|
47
|
|
||||
Gift card revenue
|
|
(7
|
)
|
|
85
|
|
|
(11
|
)
|
|
326
|
|
||||
Total income
|
|
$
|
1,149
|
|
|
$
|
1,546
|
|
|
$
|
2,070
|
|
|
$
|
3,134
|
|
|
|
13 Weeks Ended
|
|
26 Weeks Ended
|
||||||||||||
(in thousands)
|
|
July 31, 2015
|
|
August 1, 2014
|
|
July 31, 2015
|
|
August 1, 2014
|
||||||||
Net revenue:
|
|
|
|
|
|
|
|
|
||||||||
Apparel
|
|
$
|
258,168
|
|
|
$
|
285,789
|
|
|
$
|
511,613
|
|
|
$
|
561,646
|
|
Non-apparel
|
|
34,503
|
|
|
39,697
|
|
|
65,828
|
|
|
77,314
|
|
||||
Services and other
|
|
19,743
|
|
|
21,736
|
|
|
34,360
|
|
|
38,745
|
|
||||
Total net revenue
|
|
$
|
312,414
|
|
|
$
|
347,222
|
|
|
$
|
611,801
|
|
|
$
|
677,705
|
|
•
|
The Direct segment sells products through the Company’s e-commerce websites and direct mail catalogs. Operating costs consist primarily of direct marketing costs (catalog and e-commerce marketing costs); order processing and shipping costs; direct labor and benefits costs and facility costs. Assets primarily include goodwill and trade name intangible assets, inventory, accounts receivable, prepaid expenses (deferred catalog costs), technology infrastructure, and property and equipment.
|
•
|
The Retail segment sells products and services through dedicated Lands’ End Shops at Sears across the United States, the Company’s stand-alone Lands’ End Inlet stores and international shop-in-shops. Operating costs consist primarily of labor and benefits costs; rent, CAM and occupancy costs; distribution costs; and in-store marketing costs. Assets primarily include retail inventory, fixtures and leasehold improvements.
|
•
|
The Corporate segment records revenues related to a licensing agreement with Sears Holdings Management Corporation, a subsidiary of Sears Holdings Corporation, whereby royalties are paid in consideration for sharing or use of intellectual property. Corporate overhead and other expenses include unallocated shared-service costs, which primarily consist of employee services and financial services, legal and corporate
|
|
|
13 Weeks Ended
|
|
26 Weeks Ended
|
||||||||||||
(in thousands)
|
|
July 31, 2015
|
|
August 1, 2014
|
|
July 31, 2015
|
|
August 1, 2014
|
||||||||
Net revenue:
|
|
|
|
|
|
|
|
|
||||||||
Direct
|
|
$
|
264,735
|
|
|
$
|
292,562
|
|
|
$
|
518,108
|
|
|
$
|
568,603
|
|
Retail
|
|
47,577
|
|
|
54,625
|
|
|
93,569
|
|
|
109,055
|
|
||||
Corporate/ other
|
|
102
|
|
|
35
|
|
|
124
|
|
|
47
|
|
||||
Total net revenue
|
|
$
|
312,414
|
|
|
$
|
347,222
|
|
|
$
|
611,801
|
|
|
$
|
677,705
|
|
|
|
13 Weeks Ended
|
|
26 Weeks Ended
|
||||||||||||
(in thousands)
|
|
July 31, 2015
|
|
August 1, 2014
|
|
July 31, 2015
|
|
August 1, 2014
|
||||||||
Adjusted EBITDA:
|
|
|
|
|
|
|
|
|
||||||||
Direct
|
|
$
|
26,687
|
|
|
$
|
38,520
|
|
|
$
|
48,365
|
|
|
$
|
67,783
|
|
Retail
|
|
663
|
|
|
960
|
|
|
807
|
|
|
3,286
|
|
||||
Corporate/ other
|
|
(7,730
|
)
|
|
(9,357
|
)
|
|
(16,502
|
)
|
|
(17,130
|
)
|
||||
Total adjusted EBITDA
|
|
$
|
19,620
|
|
|
$
|
30,123
|
|
|
$
|
32,670
|
|
|
$
|
53,939
|
|
|
|
13 Weeks Ended
|
|
26 Weeks Ended
|
||||||||||||
(in thousands)
|
|
July 31, 2015
|
|
August 1, 2014
|
|
July 31, 2015
|
|
August 1, 2014
|
||||||||
Depreciation and amortization:
|
|
|
|
|
|
|
|
|
||||||||
Direct
|
|
$
|
3,200
|
|
|
$
|
3,845
|
|
|
$
|
6,895
|
|
|
$
|
7,860
|
|
Retail
|
|
499
|
|
|
651
|
|
|
996
|
|
|
1,295
|
|
||||
Corporate/ other
|
|
362
|
|
|
329
|
|
|
723
|
|
|
672
|
|
||||
Total depreciation and amortization
|
|
$
|
4,061
|
|
|
$
|
4,825
|
|
|
$
|
8,614
|
|
|
$
|
9,827
|
|
(in thousands)
|
|
July 31, 2015
|
|
August 1, 2014
|
|
January 30, 2015
|
||||||
Total assets:
|
|
|
|
|
|
|
||||||
Direct
|
|
$
|
1,078,682
|
|
|
$
|
1,060,419
|
|
|
$
|
1,023,364
|
|
Retail
|
|
76,593
|
|
|
82,433
|
|
|
67,765
|
|
|||
Corporate/ other
|
|
248,089
|
|
|
174,242
|
|
|
262,308
|
|
|||
Total assets
|
|
$
|
1,403,364
|
|
|
$
|
1,317,094
|
|
|
$
|
1,353,437
|
|
|
|
13 Weeks Ended
|
|
26 Weeks Ended
|
||||||||||||
(in thousands)
|
|
July 31, 2015
|
|
August 1, 2014
|
|
July 31, 2015
|
|
August 1, 2014
|
||||||||
Capital expenditures:
|
|
|
|
|
|
|
|
|
||||||||
Direct
|
|
$
|
2,419
|
|
|
$
|
3,964
|
|
|
$
|
13,302
|
|
|
$
|
5,431
|
|
Retail
|
|
53
|
|
|
142
|
|
|
53
|
|
|
142
|
|
||||
Corporate/ other
|
|
74
|
|
|
62
|
|
|
165
|
|
|
143
|
|
||||
Total capital expenditures
|
|
$
|
2,546
|
|
|
$
|
4,168
|
|
|
$
|
13,520
|
|
|
$
|
5,716
|
|
•
|
Executive overview.
This section provides a brief description of our business, accounting basis of presentation and a brief summary of our results of operations.
|
•
|
Discussion and analysis.
This section highlights items affecting the comparability of our financial results and provides an analysis of our combined and segment results of operations for the 2015 and 2014 second fiscal quarter and year to date period.
|
•
|
Liquidity and capital resources.
This section provides an overview of our historical and anticipated cash and financing activities. We also review our historical sources and uses of cash in our operating, investing and financing activities.
|
•
|
Quantitative and qualitative disclosures about market risk.
This section discusses how we monitor and manage market risk related to changing currency rates. We also provide an analysis of how adverse changes in market conditions could impact our results based on certain assumptions we have provided.
|
•
|
Application of Critical accounting policies and estimates.
This section summarizes the accounting policies that we consider important to our financial condition and results of operations and which require significant judgment or estimates to be made in their application.
|
|
|
13 Weeks Ended
|
||||||||||||
|
|
July 31, 2015
|
|
August 1, 2014
|
||||||||||
(in thousands)
|
|
$’s
|
|
% of
Net Sales |
|
$’s
|
|
% of
Net Sales |
||||||
Net revenue
|
|
$
|
312,414
|
|
|
100.0
|
%
|
|
$
|
347,222
|
|
|
100.0
|
%
|
Cost of sales (excluding depreciation and amortization)
|
|
167,914
|
|
|
53.7
|
%
|
|
178,816
|
|
|
51.5
|
%
|
||
Gross profit
|
|
144,500
|
|
|
46.3
|
%
|
|
168,406
|
|
|
48.5
|
%
|
||
Selling and administrative
|
|
124,880
|
|
|
40.0
|
%
|
|
138,283
|
|
|
39.8
|
%
|
||
Depreciation and amortization
|
|
4,061
|
|
|
1.3
|
%
|
|
4,825
|
|
|
1.4
|
%
|
||
Other operating income, net
|
|
(2,359
|
)
|
|
(0.8
|
)%
|
|
—
|
|
|
—
|
%
|
||
Operating income
|
|
17,918
|
|
|
5.7
|
%
|
|
25,298
|
|
|
7.3
|
%
|
||
Interest expense
|
|
6,225
|
|
|
2.0
|
%
|
|
6,205
|
|
|
1.8
|
%
|
||
Other income, net
|
|
498
|
|
|
0.2
|
%
|
|
203
|
|
|
0.1
|
%
|
||
Income before income taxes
|
|
12,191
|
|
|
3.9
|
%
|
|
19,296
|
|
|
5.6
|
%
|
||
Income tax expense
|
|
4,730
|
|
|
1.5
|
%
|
|
7,451
|
|
|
2.1
|
%
|
||
Net income
|
|
$
|
7,461
|
|
|
2.4
|
%
|
|
$
|
11,845
|
|
|
3.4
|
%
|
|
|
26 Weeks Ended
|
||||||||||||
|
|
July 31, 2015
|
|
August 1, 2014
|
||||||||||
(in thousands)
|
|
$’s
|
|
% of
Net Sales |
|
$’s
|
|
% of
Net Sales |
||||||
Net revenue
|
|
$
|
611,801
|
|
|
100.0
|
%
|
|
$
|
677,705
|
|
|
100.0
|
%
|
Cost of sales (excluding depreciation and amortization)
|
|
320,737
|
|
|
52.4
|
%
|
|
347,277
|
|
|
51.2
|
%
|
||
Gross profit
|
|
291,064
|
|
|
47.6
|
%
|
|
330,428
|
|
|
48.8
|
%
|
||
Selling and administrative
|
|
258,394
|
|
|
42.2
|
%
|
|
276,489
|
|
|
40.8
|
%
|
||
Depreciation and amortization
|
|
8,614
|
|
|
1.4
|
%
|
|
9,827
|
|
|
1.5
|
%
|
||
Other operating (income) expense, net
|
|
(2,357
|
)
|
|
(0.4
|
)%
|
|
20
|
|
|
—
|
%
|
||
Operating income
|
|
26,413
|
|
|
4.3
|
%
|
|
44,092
|
|
|
6.5
|
%
|
||
Interest expense
|
|
12,411
|
|
|
2.0
|
%
|
|
8,130
|
|
|
1.2
|
%
|
||
Other income, net
|
|
1,006
|
|
|
0.2
|
%
|
|
340
|
|
|
0.1
|
%
|
||
Income before income taxes
|
|
15,008
|
|
|
2.5
|
%
|
|
36,302
|
|
|
5.4
|
%
|
||
Income tax expense
|
|
5,823
|
|
|
1.0
|
%
|
|
13,589
|
|
|
2.0
|
%
|
||
Net income
|
|
$
|
9,185
|
|
|
1.5
|
%
|
|
$
|
22,713
|
|
|
3.4
|
%
|
•
|
EBITDA excludes the effects of financings, investing activities and tax structure by eliminating the effects of interest, depreciation and income tax costs.
|
•
|
Other significant items, while periodically affecting our results, may vary significantly from period to period and have a disproportionate effect in a given period, which affects comparability of results. We have adjusted our results for these items to make our statements more comparable and therefore more useful to investors as the items are not representative of our ongoing operations.
|
◦
|
For the
Second Quarter 2015
and
Year to Date 2015
, we excluded a benefit related to the reversal of a portion of the product recall accrual recognized in Fiscal 2014 as this was an unusual event that affects the comparability of our financial results.
|
◦
|
For the
Second Quarter 2015
,
Year to Date 2015
and
Year to Date 2014
, we excluded the loss on disposal of property and equipment as management considers the gains or losses on disposal of assets to result from investing decisions rather than ongoing operations.
|
|
|
13 Weeks Ended
|
||||||||||||
|
|
July 31, 2015
|
|
August 1, 2014
|
||||||||||
(in thousands)
|
|
$’s
|
|
% of
Net Sales |
|
$’s
|
|
% of
Net Sales |
||||||
Net income
|
|
$
|
7,461
|
|
|
2.4
|
%
|
|
$
|
11,845
|
|
|
3.4
|
%
|
Income tax expense
|
|
4,730
|
|
|
1.5
|
%
|
|
7,451
|
|
|
2.1
|
%
|
||
Other income, net
|
|
498
|
|
|
0.2
|
%
|
|
203
|
|
|
0.1
|
%
|
||
Interest expense
|
|
6,225
|
|
|
2.0
|
%
|
|
6,205
|
|
|
1.8
|
%
|
||
Operating income
|
|
17,918
|
|
|
5.7
|
%
|
|
25,298
|
|
|
7.3
|
%
|
||
Depreciation and amortization
|
|
4,061
|
|
|
1.3
|
%
|
|
4,825
|
|
|
1.4
|
%
|
||
Product recall
|
|
(2,364
|
)
|
|
(0.8
|
)%
|
|
—
|
|
|
—
|
%
|
||
Loss on disposal of property and equipment
|
|
5
|
|
|
—
|
%
|
|
—
|
|
|
—
|
%
|
||
Adjusted EBITDA
|
|
$
|
19,620
|
|
|
6.3
|
%
|
|
$
|
30,123
|
|
|
8.7
|
%
|
|
|
26 Weeks Ended
|
||||||||||||
|
|
July 31, 2015
|
|
August 1, 2014
|
||||||||||
(in thousands)
|
|
$’s
|
|
% of
Net Sales |
|
$’s
|
|
% of
Net Sales |
||||||
Net income
|
|
$
|
9,185
|
|
|
1.5
|
%
|
|
$
|
22,713
|
|
|
3.4
|
%
|
Income tax expense
|
|
5,823
|
|
|
1.0
|
%
|
|
13,589
|
|
|
2.0
|
%
|
||
Other income, net
|
|
1,006
|
|
|
0.2
|
%
|
|
340
|
|
|
0.1
|
%
|
||
Interest expense
|
|
12,411
|
|
|
2.0
|
%
|
|
8,130
|
|
|
1.2
|
%
|
||
Operating income
|
|
26,413
|
|
|
4.3
|
%
|
|
44,092
|
|
|
6.5
|
%
|
||
Depreciation and amortization
|
|
8,614
|
|
|
1.4
|
%
|
|
9,827
|
|
|
1.5
|
%
|
||
Product recall
|
|
(2,364
|
)
|
|
(0.4
|
)%
|
|
—
|
|
|
—
|
%
|
||
Loss on disposal of property and equipment
|
|
7
|
|
|
—
|
%
|
|
20
|
|
|
—
|
%
|
||
Adjusted EBITDA
|
|
$
|
32,670
|
|
|
5.3
|
%
|
|
$
|
53,939
|
|
|
8.0
|
%
|
•
|
Increased inventory purchases to replenish inventory levels, as beginning inventory for Fiscal 2015 was $69 million more than beginning inventory for Fiscal 2014,
|
•
|
Lower Operating income, primarily due to decreased Net revenue, and
|
•
|
The one time impact of items in the prior year that were settled through inter-company transactions with our former parent prior to the separation.
|
By:
|
/s/ Michael P. Rosera
|
|
Michael P. Rosera
|
|
Executive Vice President, Chief Operating Officer, Chief Financial Officer and Treasurer (Principal Financial Officer)
|
LANDLORD
:
|
|
SEARS, ROEBUCK AND CO., a New York corporation
|
corporation
|
|
By:
/s/Jeffrey Stollenwerck
|
Name: Jeffrey Stollenwerck
|
Title: SVP Real Estate
|
|
Date: July 6, 2015
|
TENANT
:
|
|
LANDS’ END, INC., a Delaware corporation
|
|
|
By:
/s/Brian D. Kohlbeck
|
Name: Brian D. Kohlbeck
|
Title: Vice President, Business Finance
|
|
Date: July 6, 2015
|
Store Num
|
Store Name
|
Lease Term
|
FY2015 Begin Sq Ft
|
Lease Factor
|
Yr 1 Rent PSF
|
Yr 1 Rent
|
FY2016 Begin Sq Ft
|
Lease Factor
|
Yr 2 Rent PSF
|
Yr 2 Rent
|
FY2017 Begin Sq Ft
|
Lease Factor
|
Yr 3 Rent PSF
|
Yr 3 Rent
|
1664
|
1664 PARAMUS
|
3.00
|
15,143
|
[*****]
|
[*****]
|
[*****]
|
15,143
|
[*****]
|
[*****]
|
[*****]
|
15,143
|
[*****]
|
[*****]
|
[*****]
|
1300
|
1300 OAK BROOK
|
3.00
|
13,485
|
[*****]
|
[*****]
|
[*****]
|
13,485
|
[*****]
|
[*****]
|
[*****]
|
13,485
|
[*****]
|
[*****]
|
[*****]
|
1624
|
1624 STATEN ISLAND
|
3.00
|
8,821
|
[*****]
|
[*****]
|
[*****]
|
8,821
|
[*****]
|
[*****]
|
[*****]
|
8,821
|
[*****]
|
[*****]
|
[*****]
|
1844
|
1844 COLUMBIA
|
3.00
|
7,098
|
[*****]
|
[*****]
|
[*****]
|
7,098
|
[*****]
|
[*****]
|
[*****]
|
7,098
|
[*****]
|
[*****]
|
[*****]
|
1109
|
1109 LYNNWOOD
|
4.00
|
7,044
|
[*****]
|
[*****]
|
[*****]
|
7,044
|
[*****]
|
[*****]
|
[*****]
|
7,044
|
[*****]
|
[*****]
|
[*****]
|
1112
|
1112 MINNETONKA
|
5.00
|
5,712
|
[*****]
|
[*****]
|
[*****]
|
5,712
|
[*****]
|
[*****]
|
[*****]
|
5,712
|
[*****]
|
[*****]
|
[*****]
|
1638
|
1638 BREA
|
3.00
|
4,345
|
[*****]
|
[*****]
|
[*****]
|
4,345
|
[*****]
|
[*****]
|
[*****]
|
4,345
|
[*****]
|
[*****]
|
[*****]
|
1163
|
1163 BURLINGTON
|
3.00
|
17,542
|
[*****]
|
[*****]
|
[*****]
|
17,542
|
[*****]
|
[*****]
|
[*****]
|
17,542
|
[*****]
|
[*****]
|
[*****]
|
1034
|
1034 PITTSBURGH/ROSS PARK
|
4.00
|
16,979
|
[*****]
|
[*****]
|
[*****]
|
16,979
|
[*****]
|
[*****]
|
[*****]
|
16,979
|
[*****]
|
[*****]
|
[*****]
|
1390
|
1390 ANN ARBOR
|
5.00
|
14,168
|
[*****]
|
[*****]
|
[*****]
|
14,168
|
[*****]
|
[*****]
|
[*****]
|
14,168
|
[*****]
|
[*****]
|
[*****]
|
1658
|
1658 SANTA ROSA
|
5.00
|
3,871
|
[*****]
|
[*****]
|
[*****]
|
3,871
|
[*****]
|
[*****]
|
[*****]
|
3,871
|
[*****]
|
[*****]
|
[*****]
|
1414
|
1414 NANUET
|
5.00
|
7,562
|
[*****]
|
[*****]
|
[*****]
|
7,562
|
[*****]
|
[*****]
|
[*****]
|
7,562
|
[*****]
|
[*****]
|
[*****]
|
1079
|
1079 PORTLAND WASHINGTON SQ
|
3.00
|
14,142
|
[*****]
|
[*****]
|
[*****]
|
14,142
|
[*****]
|
[*****]
|
[*****]
|
14,142
|
[*****]
|
[*****]
|
[*****]
|
1464
|
1464 DEPTFORD
|
4.00
|
7,995
|
[*****]
|
[*****]
|
[*****]
|
7,995
|
[*****]
|
[*****]
|
[*****]
|
7,995
|
[*****]
|
[*****]
|
[*****]
|
1864
|
1864 COCKEYSVILLE
|
3.00
|
16,242
|
[*****]
|
[*****]
|
[*****]
|
16,242
|
[*****]
|
[*****]
|
[*****]
|
16,242
|
[*****]
|
[*****]
|
[*****]
|
1069
|
1069 REDMOND OVERLAKE PARK
|
3.00
|
11,458
|
[*****]
|
[*****]
|
[*****]
|
11,458
|
[*****]
|
[*****]
|
[*****]
|
11,458
|
[*****]
|
[*****]
|
[*****]
|
1178
|
1178 SANTA MONICA
|
3.00
|
5,818
|
[*****]
|
[*****]
|
[*****]
|
5,818
|
[*****]
|
[*****]
|
[*****]
|
5,818
|
[*****]
|
[*****]
|
[*****]
|
1159
|
1159 FAIRFIELD
|
3.00
|
4,848
|
[*****]
|
[*****]
|
[*****]
|
4,848
|
[*****]
|
[*****]
|
[*****]
|
4,848
|
[*****]
|
[*****]
|
[*****]
|
1434
|
1434 WAYNE
|
3.00
|
9,652
|
[*****]
|
[*****]
|
[*****]
|
9,652
|
[*****]
|
[*****]
|
[*****]
|
9,652
|
[*****]
|
[*****]
|
[*****]
|
1119
|
1119 PORTLAND
|
3.00
|
6,442
|
[*****]
|
[*****]
|
[*****]
|
6,442
|
[*****]
|
[*****]
|
[*****]
|
6,442
|
[*****]
|
[*****]
|
[*****]
|
1888
|
1888 WEST JORDAN
|
3.00
|
4,333
|
[*****]
|
[*****]
|
[*****]
|
4,333
|
[*****]
|
[*****]
|
[*****]
|
4,333
|
[*****]
|
[*****]
|
[*****]
|
1146
|
1146 CORDOVA/MEMPHIS/GERMANTWN
|
3.00
|
4,754
|
[*****]
|
[*****]
|
[*****]
|
4,754
|
[*****]
|
[*****]
|
[*****]
|
4,754
|
[*****]
|
[*****]
|
[*****]
|
1225
|
1225 ORLANDO COLONIAL
|
3.00
|
4,531
|
[*****]
|
[*****]
|
[*****]
|
4,531
|
[*****]
|
[*****]
|
[*****]
|
4,531
|
[*****]
|
[*****]
|
[*****]
|
1264
|
1264 HICKSVILLE
|
3.00
|
8,369
|
[*****]
|
[*****]
|
[*****]
|
8,369
|
[*****]
|
[*****]
|
[*****]
|
8,369
|
[*****]
|
[*****]
|
[*****]
|
2514
|
2514 WARRENTON
|
3.00
|
7,130
|
[*****]
|
[*****]
|
[*****]
|
7,130
|
[*****]
|
[*****]
|
[*****]
|
7,130
|
[*****]
|
[*****]
|
[*****]
|
1648
|
1648 SAN DIEGO NORTH
|
3.00
|
9,818
|
[*****]
|
[*****]
|
[*****]
|
9,818
|
[*****]
|
[*****]
|
[*****]
|
9,818
|
[*****]
|
[*****]
|
[*****]
|
1063
|
1063 WEST HARTFORD
|
3.00
|
7,481
|
[*****]
|
[*****]
|
[*****]
|
7,481
|
[*****]
|
[*****]
|
[*****]
|
7,481
|
[*****]
|
[*****]
|
[*****]
|
1814
|
1814 FAIRFAX
|
3.00
|
11,668
|
[*****]
|
[*****]
|
[*****]
|
11,668
|
[*****]
|
[*****]
|
[*****]
|
11,668
|
[*****]
|
[*****]
|
[*****]
|
1067
|
1067 HOUSTON/MEMORIAL
|
3.00
|
4,941
|
[*****]
|
[*****]
|
[*****]
|
4,941
|
[*****]
|
[*****]
|
[*****]
|
4,941
|
[*****]
|
[*****]
|
[*****]
|
1313
|
1313 NASHUA
|
3.00
|
7,573
|
[*****]
|
[*****]
|
[*****]
|
7,573
|
[*****]
|
[*****]
|
[*****]
|
7,573
|
[*****]
|
[*****]
|
[*****]
|
1944
|
1944 YORKTOWN HEIGHTS
|
3.00
|
6,334
|
[*****]
|
[*****]
|
[*****]
|
6,334
|
[*****]
|
[*****]
|
[*****]
|
6,334
|
[*****]
|
[*****]
|
[*****]
|
1794
|
1794 EAST NORTHPORT
|
3.00
|
8,350
|
[*****]
|
[*****]
|
[*****]
|
8,350
|
[*****]
|
[*****]
|
[*****]
|
8,350
|
[*****]
|
[*****]
|
[*****]
|
1103
|
1103 ALBANY
|
4.00
|
7,616
|
[*****]
|
[*****]
|
[*****]
|
7,616
|
[*****]
|
[*****]
|
[*****]
|
7,616
|
[*****]
|
[*****]
|
[*****]
|
1478
|
1478 SAN BRUNO
|
4.00
|
8,698
|
[*****]
|
[*****]
|
[*****]
|
8,698
|
[*****]
|
[*****]
|
[*****]
|
8,698
|
[*****]
|
[*****]
|
[*****]
|
Store Num
|
Store Name
|
FY2018 Begin
Sq Ft |
Lease Factor
|
Yr 4
Rent PSF |
Yr 4
Rent |
FY2019 Begin
Sq Ft |
Lease Factor
|
Yr 5
Rent PSF |
Yr 5
Rent |
Expiration Date
|
Leased/
Owned |
1664
|
1664 PARAMUS
|
15,143
|
[*****]
|
[*****]
|
[*****]
|
15,143
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1300
|
1300 OAK BROOK
|
13,485
|
[*****]
|
[*****]
|
[*****]
|
13,485
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1624
|
1624 STATEN ISLAND
|
8,821
|
[*****]
|
[*****]
|
[*****]
|
8,821
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1844
|
1844 COLUMBIA
|
7,098
|
[*****]
|
[*****]
|
[*****]
|
7,098
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1109
|
1109 LYNNWOOD
|
7,044
|
[*****]
|
[*****]
|
[*****]
|
7,044
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1112
|
1112 MINNETONKA
|
5,712
|
[*****]
|
[*****]
|
[*****]
|
5,712
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1638
|
1638 BREA
|
4,345
|
[*****]
|
[*****]
|
[*****]
|
4,345
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1163
|
1163 BURLINGTON
|
17,542
|
[*****]
|
[*****]
|
[*****]
|
17,542
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1034
|
1034 PITTSBURGH/ROSS PARK
|
16,979
|
[*****]
|
[*****]
|
[*****]
|
16,979
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1390
|
1390 ANN ARBOR
|
14,168
|
[*****]
|
[*****]
|
[*****]
|
14,168
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1658
|
1658 SANTA ROSA
|
3,871
|
[*****]
|
[*****]
|
[*****]
|
3,871
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1414
|
1414 NANUET
|
7,562
|
[*****]
|
[*****]
|
[*****]
|
7,562
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1079
|
1079 PORTLAND WASHINGTON SQ
|
14,142
|
[*****]
|
[*****]
|
[*****]
|
14,142
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1464
|
1464 DEPTFORD
|
7,995
|
[*****]
|
[*****]
|
[*****]
|
7,995
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1864
|
1864 COCKEYSVILLE
|
16,242
|
[*****]
|
[*****]
|
[*****]
|
16,242
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1069
|
1069 REDMOND OVERLAKE PARK
|
11,458
|
[*****]
|
[*****]
|
[*****]
|
11,458
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1178
|
1178 SANTA MONICA
|
5,818
|
[*****]
|
[*****]
|
[*****]
|
5,818
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1159
|
1159 FAIRFIELD
|
4,848
|
[*****]
|
[*****]
|
[*****]
|
4,848
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1434
|
1434 WAYNE
|
9,652
|
[*****]
|
[*****]
|
[*****]
|
9,652
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1119
|
1119 PORTLAND
|
6,442
|
[*****]
|
[*****]
|
[*****]
|
6,442
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1888
|
1888 WEST JORDAN
|
4,333
|
[*****]
|
[*****]
|
[*****]
|
4,333
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1146
|
1146 CORDOVA/MEMPHIS/GERMANTWN
|
4,754
|
[*****]
|
[*****]
|
[*****]
|
4,754
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1225
|
1225 ORLANDO COLONIAL
|
4,531
|
[*****]
|
[*****]
|
[*****]
|
4,531
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1264
|
1264 HICKSVILLE
|
8,369
|
[*****]
|
[*****]
|
[*****]
|
8,369
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
2514
|
2514 WARRENTON
|
7,130
|
[*****]
|
[*****]
|
[*****]
|
7,130
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1648
|
1648 SAN DIEGO NORTH
|
9,818
|
[*****]
|
[*****]
|
[*****]
|
9,818
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1063
|
1063 WEST HARTFORD
|
7,481
|
[*****]
|
[*****]
|
[*****]
|
7,481
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1814
|
1814 FAIRFAX
|
11,668
|
[*****]
|
[*****]
|
[*****]
|
11,668
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1067
|
1067 HOUSTON/MEMORIAL
|
4,941
|
[*****]
|
[*****]
|
[*****]
|
4,941
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1313
|
1313 NASHUA
|
7,573
|
[*****]
|
[*****]
|
[*****]
|
7,573
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1944
|
1944 YORKTOWN HEIGHTS
|
6,334
|
[*****]
|
[*****]
|
[*****]
|
6,334
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1794
|
1794 EAST NORTHPORT
|
8,350
|
[*****]
|
[*****]
|
[*****]
|
8,350
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1103
|
1103 ALBANY
|
7,616
|
[*****]
|
[*****]
|
[*****]
|
7,616
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1478
|
1478 SAN BRUNO
|
8,698
|
[*****]
|
[*****]
|
[*****]
|
8,698
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
Store Num
|
Store Name
|
Lease Term
|
FY2015 Begin Sq Ft
|
Lease Factor
|
Yr 1 Rent PSF
|
Yr 1 Rent
|
FY2016 Begin Sq Ft
|
Lease Factor
|
Yr 2 Rent PSF
|
Yr 2 Rent
|
FY2017 Begin Sq Ft
|
Lease Factor
|
Yr 3 Rent PSF
|
Yr 3 Rent
|
1438
|
1438 EL CAJON
|
4.00
|
6,511
|
[*****]
|
[*****]
|
[*****]
|
6,511
|
[*****]
|
[*****]
|
[*****]
|
6,511
|
[*****]
|
[*****]
|
[*****]
|
1645
|
1645 BOCA RATON
|
4.00
|
6,696
|
[*****]
|
[*****]
|
[*****]
|
6,696
|
[*****]
|
[*****]
|
[*****]
|
6,696
|
[*****]
|
[*****]
|
[*****]
|
1156
|
1156 ROSEVILLE
|
4.00
|
7,565
|
[*****]
|
[*****]
|
[*****]
|
7,565
|
[*****]
|
[*****]
|
[*****]
|
7,565
|
[*****]
|
[*****]
|
[*****]
|
1625
|
1625 SARASOTA
|
4.00
|
7,975
|
[*****]
|
[*****]
|
[*****]
|
7,975
|
[*****]
|
[*****]
|
[*****]
|
7,975
|
[*****]
|
[*****]
|
[*****]
|
2308
|
2308 SANTA CRUZ
|
4.00
|
5,709
|
[*****]
|
[*****]
|
[*****]
|
5,709
|
[*****]
|
[*****]
|
[*****]
|
5,709
|
[*****]
|
[*****]
|
[*****]
|
2239
|
2239 VANCOUVER
|
4.00
|
4,750
|
[*****]
|
[*****]
|
[*****]
|
4,750
|
[*****]
|
[*****]
|
[*****]
|
4,750
|
[*****]
|
[*****]
|
[*****]
|
1430
|
1430 MIDDLEBURG HTS/CLEVELAND
|
4.00
|
7,381
|
[*****]
|
[*****]
|
[*****]
|
7,381
|
[*****]
|
[*****]
|
[*****]
|
7,381
|
[*****]
|
[*****]
|
[*****]
|
1350
|
1350 MENTOR
|
4.00
|
10,420
|
[*****]
|
[*****]
|
[*****]
|
10,420
|
[*****]
|
[*****]
|
[*****]
|
10,420
|
[*****]
|
[*****]
|
[*****]
|
1083
|
1083 WARWICK
|
4.00
|
8,188
|
[*****]
|
[*****]
|
[*****]
|
8,188
|
[*****]
|
[*****]
|
[*****]
|
8,188
|
[*****]
|
[*****]
|
[*****]
|
1490
|
1490 TROY
|
4.00
|
9,074
|
[*****]
|
[*****]
|
[*****]
|
9,074
|
[*****]
|
[*****]
|
[*****]
|
9,074
|
[*****]
|
[*****]
|
[*****]
|
1186
|
1186 MEMPHIS/POPLAR
|
4.00
|
4,899
|
[*****]
|
[*****]
|
[*****]
|
4,899
|
[*****]
|
[*****]
|
[*****]
|
4,899
|
[*****]
|
[*****]
|
[*****]
|
1220
|
1220 TOLEDO
|
4.00
|
8,772
|
[*****]
|
[*****]
|
[*****]
|
8,772
|
[*****]
|
[*****]
|
[*****]
|
8,772
|
[*****]
|
[*****]
|
[*****]
|
2663
|
2663 NEWINGTON/PORTSMOUTH
|
4.00
|
6,938
|
[*****]
|
[*****]
|
[*****]
|
6,938
|
[*****]
|
[*****]
|
[*****]
|
6,938
|
[*****]
|
[*****]
|
[*****]
|
2443
|
2443 MANCHESTER
|
4.00
|
8,961
|
[*****]
|
[*****]
|
[*****]
|
8,961
|
[*****]
|
[*****]
|
[*****]
|
8,961
|
[*****]
|
[*****]
|
[*****]
|
1450
|
1450 ROSEVILLE
|
4.00
|
10,019
|
[*****]
|
[*****]
|
[*****]
|
10,019
|
[*****]
|
[*****]
|
[*****]
|
10,019
|
[*****]
|
[*****]
|
[*****]
|
1294
|
1294 WATCHUNG
|
4.00
|
9,042
|
[*****]
|
[*****]
|
[*****]
|
9,042
|
[*****]
|
[*****]
|
[*****]
|
9,042
|
[*****]
|
[*****]
|
[*****]
|
1003
|
1003 SALEM
|
4.00
|
8,532
|
[*****]
|
[*****]
|
[*****]
|
8,532
|
[*****]
|
[*****]
|
[*****]
|
8,532
|
[*****]
|
[*****]
|
[*****]
|
1415
|
1415 CLEARWATER/COUNTRYSIDE
|
5.00
|
6,012
|
[*****]
|
[*****]
|
[*****]
|
6,012
|
[*****]
|
[*****]
|
[*****]
|
6,012
|
[*****]
|
[*****]
|
[*****]
|
1148
|
1148 VENTURA
|
5.00
|
6,691
|
[*****]
|
[*****]
|
[*****]
|
6,691
|
[*****]
|
[*****]
|
[*****]
|
6,691
|
[*****]
|
[*****]
|
[*****]
|
1284
|
1284 ALEXANDRIA
|
5.00
|
9,608
|
[*****]
|
[*****]
|
[*****]
|
9,608
|
[*****]
|
[*****]
|
[*****]
|
9,608
|
[*****]
|
[*****]
|
[*****]
|
1538
|
1538 CITRUS HTS SUNRISE
|
5.00
|
8,827
|
[*****]
|
[*****]
|
[*****]
|
8,827
|
[*****]
|
[*****]
|
[*****]
|
8,827
|
[*****]
|
[*****]
|
[*****]
|
1750
|
1750 ORLAND PARK
|
5.00
|
7,154
|
[*****]
|
[*****]
|
[*****]
|
7,154
|
[*****]
|
[*****]
|
[*****]
|
7,154
|
[*****]
|
[*****]
|
[*****]
|
1122
|
1122 MAPLEWOOD
|
5.00
|
6,421
|
[*****]
|
[*****]
|
[*****]
|
6,421
|
[*****]
|
[*****]
|
[*****]
|
6,421
|
[*****]
|
[*****]
|
[*****]
|
1520
|
1520 AKRON CHAPEL HILL
|
5.00
|
7,495
|
[*****]
|
[*****]
|
[*****]
|
7,495
|
[*****]
|
[*****]
|
[*****]
|
7,495
|
[*****]
|
[*****]
|
[*****]
|
1053
|
1053 SAUGUS
|
5.00
|
5,565
|
[*****]
|
[*****]
|
[*****]
|
5,565
|
[*****]
|
[*****]
|
[*****]
|
5,565
|
[*****]
|
[*****]
|
[*****]
|
1185
|
1185 ASHEVILLE
|
5.00
|
8,263
|
[*****]
|
[*****]
|
[*****]
|
8,263
|
[*****]
|
[*****]
|
[*****]
|
8,263
|
[*****]
|
[*****]
|
[*****]
|
1385
|
1385 ATLANTA
|
5.00
|
7,587
|
[*****]
|
[*****]
|
[*****]
|
7,587
|
[*****]
|
[*****]
|
[*****]
|
7,587
|
[*****]
|
[*****]
|
[*****]
|
1101
|
1101 OVERLAND PARK
|
5.00
|
8,234
|
[*****]
|
[*****]
|
[*****]
|
8,234
|
[*****]
|
[*****]
|
[*****]
|
8,234
|
[*****]
|
[*****]
|
[*****]
|
1410
|
1410 CANTON
|
5.00
|
8,979
|
[*****]
|
[*****]
|
[*****]
|
8,979
|
[*****]
|
[*****]
|
[*****]
|
8,979
|
[*****]
|
[*****]
|
[*****]
|
1193
|
1193 WATERFORD
|
5.00
|
7,484
|
[*****]
|
[*****]
|
[*****]
|
7,484
|
[*****]
|
[*****]
|
[*****]
|
7,484
|
[*****]
|
[*****]
|
[*****]
|
2382
|
2382 MADISON WEST
|
5.00
|
8,062
|
[*****]
|
[*****]
|
[*****]
|
8,062
|
[*****]
|
[*****]
|
[*****]
|
8,062
|
[*****]
|
[*****]
|
[*****]
|
1584
|
1584 VICTOR
|
5.00
|
7,688
|
[*****]
|
[*****]
|
[*****]
|
7,688
|
[*****]
|
[*****]
|
[*****]
|
7,688
|
[*****]
|
[*****]
|
[*****]
|
1560
|
1560 DAYTON DAYTON MALL
|
5.00
|
8,969
|
[*****]
|
[*****]
|
[*****]
|
8,969
|
[*****]
|
[*****]
|
[*****]
|
8,969
|
[*****]
|
[*****]
|
[*****]
|
1830
|
1830 FT WAYNE
|
5.00
|
6,455
|
[*****]
|
[*****]
|
[*****]
|
6,455
|
[*****]
|
[*****]
|
[*****]
|
6,455
|
[*****]
|
[*****]
|
[*****]
|
Store Num
|
Store Name
|
FY2018 Begin
Sq Ft |
Lease Factor
|
Yr 4
Rent PSF |
Yr 4
Rent |
FY2019 Begin
Sq Ft |
Lease Factor
|
Yr 5
Rent PSF |
Yr 5
Rent |
Expiration Date
|
Leased/
Owned |
1438
|
1438 EL CAJON
|
6,511
|
[*****]
|
[*****]
|
[*****]
|
6,511
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1645
|
1645 BOCA RATON
|
6,696
|
[*****]
|
[*****]
|
[*****]
|
6,696
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1156
|
1156 ROSEVILLE
|
7,565
|
[*****]
|
[*****]
|
[*****]
|
7,565
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1625
|
1625 SARASOTA
|
7,975
|
[*****]
|
[*****]
|
[*****]
|
7,975
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
2308
|
2308 SANTA CRUZ
|
5,709
|
[*****]
|
[*****]
|
[*****]
|
5,709
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
2239
|
2239 VANCOUVER
|
4,750
|
[*****]
|
[*****]
|
[*****]
|
4,750
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1430
|
1430 MIDDLEBURG HTS/CLEVELAND
|
7,381
|
[*****]
|
[*****]
|
[*****]
|
7,381
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1350
|
1350 MENTOR
|
10,420
|
[*****]
|
[*****]
|
[*****]
|
10,420
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1083
|
1083 WARWICK
|
8,188
|
[*****]
|
[*****]
|
[*****]
|
8,188
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1490
|
1490 TROY
|
9,074
|
[*****]
|
[*****]
|
[*****]
|
9,074
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1186
|
1186 MEMPHIS/POPLAR
|
4,899
|
[*****]
|
[*****]
|
[*****]
|
4,899
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1220
|
1220 TOLEDO
|
8,772
|
[*****]
|
[*****]
|
[*****]
|
8,772
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
2663
|
2663 NEWINGTON/PORTSMOUTH
|
6,938
|
[*****]
|
[*****]
|
[*****]
|
6,938
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
2443
|
2443 MANCHESTER
|
8,961
|
[*****]
|
[*****]
|
[*****]
|
8,961
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1450
|
1450 ROSEVILLE
|
10,019
|
[*****]
|
[*****]
|
[*****]
|
10,019
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1294
|
1294 WATCHUNG
|
9,042
|
[*****]
|
[*****]
|
[*****]
|
9,042
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1003
|
1003 SALEM
|
8,532
|
[*****]
|
[*****]
|
[*****]
|
8,532
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1415
|
1415 CLEARWATER/COUNTRYSIDE
|
6,012
|
[*****]
|
[*****]
|
[*****]
|
6,012
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1148
|
1148 VENTURA
|
6,691
|
[*****]
|
[*****]
|
[*****]
|
6,691
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1284
|
1284 ALEXANDRIA
|
9,608
|
[*****]
|
[*****]
|
[*****]
|
9,608
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1538
|
1538 CITRUS HTS SUNRISE
|
8,827
|
[*****]
|
[*****]
|
[*****]
|
8,827
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1750
|
1750 ORLAND PARK
|
7,154
|
[*****]
|
[*****]
|
[*****]
|
7,154
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1122
|
1122 MAPLEWOOD
|
6,421
|
[*****]
|
[*****]
|
[*****]
|
6,421
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1520
|
1520 AKRON CHAPEL HILL
|
7,495
|
[*****]
|
[*****]
|
[*****]
|
7,495
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1053
|
1053 SAUGUS
|
5,565
|
[*****]
|
[*****]
|
[*****]
|
5,565
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1185
|
1185 ASHEVILLE
|
8,263
|
[*****]
|
[*****]
|
[*****]
|
8,263
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1385
|
1385 ATLANTA
|
7,587
|
[*****]
|
[*****]
|
[*****]
|
7,587
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1101
|
1101 OVERLAND PARK
|
8,234
|
[*****]
|
[*****]
|
[*****]
|
8,234
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1410
|
1410 CANTON
|
8,979
|
[*****]
|
[*****]
|
[*****]
|
8,979
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1193
|
1193 WATERFORD
|
7,484
|
[*****]
|
[*****]
|
[*****]
|
7,484
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
2382
|
2382 MADISON WEST
|
8,062
|
[*****]
|
[*****]
|
[*****]
|
8,062
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1584
|
1584 VICTOR
|
7,688
|
[*****]
|
[*****]
|
[*****]
|
7,688
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1560
|
1560 DAYTON DAYTON MALL
|
8,969
|
[*****]
|
[*****]
|
[*****]
|
8,969
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1830
|
1830 FT WAYNE
|
6,455
|
[*****]
|
[*****]
|
[*****]
|
6,455
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
Store Num
|
Store Name
|
Lease Term
|
FY2015 Begin Sq Ft
|
Lease Factor
|
Yr 1 Rent PSF
|
Yr 1 Rent
|
FY2016 Begin Sq Ft
|
Lease Factor
|
Yr 2 Rent PSF
|
Yr 2 Rent
|
FY2017 Begin Sq Ft
|
Lease Factor
|
Yr 3 Rent PSF
|
Yr 3 Rent
|
2212
|
2212 CEDAR RAPIDS
|
5.00
|
4,876
|
[*****]
|
[*****]
|
[*****]
|
4,876
|
[*****]
|
[*****]
|
[*****]
|
4,876
|
[*****]
|
[*****]
|
[*****]
|
1089
|
1089 ANCHORAGE(SUR)
|
5.00
|
7,930
|
[*****]
|
[*****]
|
[*****]
|
7,930
|
[*****]
|
[*****]
|
[*****]
|
7,930
|
[*****]
|
[*****]
|
[*****]
|
1623
|
1623 CLAY (SYRACUSE)
|
5.00
|
8,542
|
[*****]
|
[*****]
|
[*****]
|
8,542
|
[*****]
|
[*****]
|
[*****]
|
8,542
|
[*****]
|
[*****]
|
[*****]
|
1574
|
1574 MIDDLETOWN
|
5.00
|
8,471
|
[*****]
|
[*****]
|
[*****]
|
8,471
|
[*****]
|
[*****]
|
[*****]
|
8,471
|
[*****]
|
[*****]
|
[*****]
|
1132
|
1132 BURNSVILLE
|
5.00
|
5,659
|
[*****]
|
[*****]
|
[*****]
|
5,659
|
[*****]
|
[*****]
|
[*****]
|
5,659
|
[*****]
|
[*****]
|
[*****]
|
1209
|
1209 LONG BEACH
|
1.92
|
7,459
|
[*****]
|
[*****]
|
[*****]
|
7,459
|
[*****]
|
[*****]
|
[*****]
|
7,459
|
[*****]
|
[*****]
|
[*****]
|
2219
|
2219 LACEY/OLYMPIA
|
3.00
|
3,085
|
[*****]
|
[*****]
|
[*****]
|
3,085
|
[*****]
|
[*****]
|
[*****]
|
3,085
|
[*****]
|
[*****]
|
[*****]
|
1297
|
1297 HURST
|
3.00
|
4,489
|
[*****]
|
[*****]
|
[*****]
|
4,489
|
[*****]
|
[*****]
|
[*****]
|
4,489
|
[*****]
|
[*****]
|
[*****]
|
1660
|
1660 AURORA
|
3.00
|
8,771
|
[*****]
|
[*****]
|
[*****]
|
8,771
|
[*****]
|
[*****]
|
[*****]
|
8,771
|
[*****]
|
[*****]
|
[*****]
|
1424
|
1424 BETHESDA
|
3.00
|
11,680
|
[*****]
|
[*****]
|
[*****]
|
11,680
|
[*****]
|
[*****]
|
[*****]
|
11,680
|
[*****]
|
[*****]
|
[*****]
|
1364
|
1364 LAKE GROVE
|
3.00
|
7,133
|
[*****]
|
[*****]
|
[*****]
|
7,133
|
[*****]
|
[*****]
|
[*****]
|
7,133
|
[*****]
|
[*****]
|
[*****]
|
1051
|
1051 STRONGSVILLE
|
3.00
|
5,833
|
[*****]
|
[*****]
|
[*****]
|
5,833
|
[*****]
|
[*****]
|
[*****]
|
5,833
|
[*****]
|
[*****]
|
[*****]
|
1033
|
1033 N ATTLEBORO
|
3.00
|
10,327
|
[*****]
|
[*****]
|
[*****]
|
10,327
|
[*****]
|
[*****]
|
[*****]
|
10,327
|
[*****]
|
[*****]
|
[*****]
|
1853
|
1853 WILMINGTON
|
3.00
|
8,415
|
[*****]
|
[*****]
|
[*****]
|
8,415
|
[*****]
|
[*****]
|
[*****]
|
8,415
|
[*****]
|
[*****]
|
[*****]
|
1443
|
1443 MANCHESTER
|
3.00
|
6,482
|
[*****]
|
[*****]
|
[*****]
|
6,482
|
[*****]
|
[*****]
|
[*****]
|
6,482
|
[*****]
|
[*****]
|
[*****]
|
1760
|
1760 NOVI
|
3.00
|
8,769
|
[*****]
|
[*****]
|
[*****]
|
8,769
|
[*****]
|
[*****]
|
[*****]
|
8,769
|
[*****]
|
[*****]
|
[*****]
|
1504
|
1504 WILLIAMSVILLE/BUFFALO
|
3.00
|
6,946
|
[*****]
|
[*****]
|
[*****]
|
6,946
|
[*****]
|
[*****]
|
[*****]
|
6,946
|
[*****]
|
[*****]
|
[*****]
|
1354
|
1354 WILLOW GROVE
|
3.00
|
9,100
|
[*****]
|
[*****]
|
[*****]
|
9,100
|
[*****]
|
[*****]
|
[*****]
|
9,100
|
[*****]
|
[*****]
|
[*****]
|
1764
|
1764 ROCKAWAY
|
3.00
|
8,188
|
[*****]
|
[*****]
|
[*****]
|
8,188
|
[*****]
|
[*****]
|
[*****]
|
8,188
|
[*****]
|
[*****]
|
[*****]
|
1685
|
1685 DULUTH
|
4.00
|
6,545
|
[*****]
|
[*****]
|
[*****]
|
6,545
|
[*****]
|
[*****]
|
[*****]
|
6,545
|
[*****]
|
[*****]
|
[*****]
|
1333
|
1333 POUGHKEEPSIE
|
4.00
|
5,523
|
[*****]
|
[*****]
|
[*****]
|
5,523
|
[*****]
|
[*****]
|
[*****]
|
5,523
|
[*****]
|
[*****]
|
[*****]
|
1155
|
1155 KENNESAW
|
4.00
|
8,086
|
[*****]
|
[*****]
|
[*****]
|
8,086
|
[*****]
|
[*****]
|
[*****]
|
8,086
|
[*****]
|
[*****]
|
[*****]
|
1263
|
1263 WATERBURY
|
4.00
|
7,176
|
[*****]
|
[*****]
|
[*****]
|
7,176
|
[*****]
|
[*****]
|
[*****]
|
7,176
|
[*****]
|
[*****]
|
[*****]
|
1610
|
1610 CINCINNATI NORTHGATE
|
4.00
|
5,933
|
[*****]
|
[*****]
|
[*****]
|
5,933
|
[*****]
|
[*****]
|
[*****]
|
5,933
|
[*****]
|
[*****]
|
[*****]
|
1224
|
1224 HARRISBURG
|
4.00
|
7,435
|
[*****]
|
[*****]
|
[*****]
|
7,435
|
[*****]
|
[*****]
|
[*****]
|
7,435
|
[*****]
|
[*****]
|
[*****]
|
1614
|
1614 LIVINGSTON
|
4.00
|
8,270
|
[*****]
|
[*****]
|
[*****]
|
8,270
|
[*****]
|
[*****]
|
[*****]
|
8,270
|
[*****]
|
[*****]
|
[*****]
|
1720
|
1720 STERLING HTS
|
4.00
|
8,167
|
[*****]
|
[*****]
|
[*****]
|
8,167
|
[*****]
|
[*****]
|
[*****]
|
8,167
|
[*****]
|
[*****]
|
[*****]
|
1290
|
1290 NILES
|
4.00
|
7,305
|
[*****]
|
[*****]
|
[*****]
|
7,305
|
[*****]
|
[*****]
|
[*****]
|
7,305
|
[*****]
|
[*****]
|
[*****]
|
2309
|
2309 SILVERDALE
|
4.00
|
4,226
|
[*****]
|
[*****]
|
[*****]
|
4,226
|
[*****]
|
[*****]
|
[*****]
|
4,226
|
[*****]
|
[*****]
|
[*****]
|
1620
|
1620 VERNON HILLS
|
4.00
|
7,853
|
[*****]
|
[*****]
|
[*****]
|
7,853
|
[*****]
|
[*****]
|
[*****]
|
7,853
|
[*****]
|
[*****]
|
[*****]
|
1455
|
1455 WILMINGTON
|
4.00
|
5,047
|
[*****]
|
[*****]
|
[*****]
|
5,047
|
[*****]
|
[*****]
|
[*****]
|
5,047
|
[*****]
|
[*****]
|
[*****]
|
1019
|
1019 PLEASANTON
|
4.00
|
8,166
|
[*****]
|
[*****]
|
[*****]
|
8,166
|
[*****]
|
[*****]
|
[*****]
|
8,166
|
[*****]
|
[*****]
|
[*****]
|
1062
|
1062 BROOKFIELD
|
4.00
|
9,484
|
[*****]
|
[*****]
|
[*****]
|
9,484
|
[*****]
|
[*****]
|
[*****]
|
9,484
|
[*****]
|
[*****]
|
[*****]
|
1275
|
1275 ATLANTA/NORTHLAKE
|
4.00
|
7,993
|
[*****]
|
[*****]
|
[*****]
|
7,993
|
[*****]
|
[*****]
|
[*****]
|
7,993
|
[*****]
|
[*****]
|
[*****]
|
Store Num
|
Store Name
|
FY2018 Begin
Sq Ft |
Lease Factor
|
Yr 4
Rent PSF |
Yr 4
Rent |
FY2019 Begin
Sq Ft |
Lease Factor
|
Yr 5
Rent PSF |
Yr 5
Rent |
Expiration Date
|
Leased/
Owned |
2212
|
2212 CEDAR RAPIDS
|
4,876
|
[*****]
|
[*****]
|
[*****]
|
4,876
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1089
|
1089 ANCHORAGE(SUR)
|
7,930
|
[*****]
|
[*****]
|
[*****]
|
7,930
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1623
|
1623 CLAY (SYRACUSE)
|
8,542
|
[*****]
|
[*****]
|
[*****]
|
8,542
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1574
|
1574 MIDDLETOWN
|
8,471
|
[*****]
|
[*****]
|
[*****]
|
8,471
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1132
|
1132 BURNSVILLE
|
5,659
|
[*****]
|
[*****]
|
[*****]
|
5,659
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1209
|
1209 LONG BEACH
|
7,459
|
[*****]
|
[*****]
|
[*****]
|
7,459
|
[*****]
|
[*****]
|
[*****]
|
12/31/2016
|
Owned
|
2219
|
2219 LACEY/OLYMPIA
|
3,085
|
[*****]
|
[*****]
|
[*****]
|
3,085
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1297
|
1297 HURST
|
4,489
|
[*****]
|
[*****]
|
[*****]
|
4,489
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1660
|
1660 AURORA
|
8,771
|
[*****]
|
[*****]
|
[*****]
|
8,771
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1424
|
1424 BETHESDA
|
11,680
|
[*****]
|
[*****]
|
[*****]
|
11,680
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1364
|
1364 LAKE GROVE
|
7,133
|
[*****]
|
[*****]
|
[*****]
|
7,133
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1051
|
1051 STRONGSVILLE
|
5,833
|
[*****]
|
[*****]
|
[*****]
|
5,833
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1033
|
1033 N ATTLEBORO
|
10,327
|
[*****]
|
[*****]
|
[*****]
|
10,327
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1853
|
1853 WILMINGTON
|
8,415
|
[*****]
|
[*****]
|
[*****]
|
8,415
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1443
|
1443 MANCHESTER
|
6,482
|
[*****]
|
[*****]
|
[*****]
|
6,482
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1760
|
1760 NOVI
|
8,769
|
[*****]
|
[*****]
|
[*****]
|
8,769
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1504
|
1504 WILLIAMSVILLE/BUFFALO
|
6,946
|
[*****]
|
[*****]
|
[*****]
|
6,946
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1354
|
1354 WILLOW GROVE
|
9,100
|
[*****]
|
[*****]
|
[*****]
|
9,100
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1764
|
1764 ROCKAWAY
|
8,188
|
[*****]
|
[*****]
|
[*****]
|
8,188
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Owned
|
1685
|
1685 DULUTH
|
6,545
|
[*****]
|
[*****]
|
[*****]
|
6,545
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1333
|
1333 POUGHKEEPSIE
|
5,523
|
[*****]
|
[*****]
|
[*****]
|
5,523
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1155
|
1155 KENNESAW
|
8,086
|
[*****]
|
[*****]
|
[*****]
|
8,086
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1263
|
1263 WATERBURY
|
7,176
|
[*****]
|
[*****]
|
[*****]
|
7,176
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1610
|
1610 CINCINNATI NORTHGATE
|
5,933
|
[*****]
|
[*****]
|
[*****]
|
5,933
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1224
|
1224 HARRISBURG
|
7,435
|
[*****]
|
[*****]
|
[*****]
|
7,435
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1614
|
1614 LIVINGSTON
|
8,270
|
[*****]
|
[*****]
|
[*****]
|
8,270
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1720
|
1720 STERLING HTS
|
8,167
|
[*****]
|
[*****]
|
[*****]
|
8,167
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1290
|
1290 NILES
|
7,305
|
[*****]
|
[*****]
|
[*****]
|
7,305
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
2309
|
2309 SILVERDALE
|
4,226
|
[*****]
|
[*****]
|
[*****]
|
4,226
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1620
|
1620 VERNON HILLS
|
7,853
|
[*****]
|
[*****]
|
[*****]
|
7,853
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1455
|
1455 WILMINGTON
|
5,047
|
[*****]
|
[*****]
|
[*****]
|
5,047
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1019
|
1019 PLEASANTON
|
8,166
|
[*****]
|
[*****]
|
[*****]
|
8,166
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1062
|
1062 BROOKFIELD
|
9,484
|
[*****]
|
[*****]
|
[*****]
|
9,484
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1275
|
1275 ATLANTA/NORTHLAKE
|
7,993
|
[*****]
|
[*****]
|
[*****]
|
7,993
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
Store Num
|
Store Name
|
FY2018 Begin
Sq Ft |
Lease Factor
|
Yr 4
Rent PSF |
Yr 4
Rent |
FY2019 Begin
Sq Ft |
Lease Factor
|
Yr 5
Rent PSF |
Yr 5
Rent |
Expiration Date
|
Leased/
Owned |
1182
|
1182 ST PETERS
|
8,004
|
[*****]
|
[*****]
|
[*****]
|
8,004
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1447
|
1447 FT WORTH
|
4,387
|
[*****]
|
[*****]
|
[*****]
|
4,387
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1805
|
1805 RALEIGH
|
7,318
|
[*****]
|
[*****]
|
[*****]
|
7,318
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1605
|
1605 RALEIGH
|
7,204
|
[*****]
|
[*****]
|
[*****]
|
7,204
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1730
|
1730 FLORENCE
|
6,338
|
[*****]
|
[*****]
|
[*****]
|
6,338
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1595
|
1595 GREENVILLE
|
5,742
|
[*****]
|
[*****]
|
[*****]
|
5,742
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1221
|
1221 COLORADO SPRINGS
|
5,076
|
[*****]
|
[*****]
|
[*****]
|
5,076
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1140
|
1140 GRAND RAPIDS
|
7,821
|
[*****]
|
[*****]
|
[*****]
|
7,821
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1804
|
1804 BARBOURSVILLE
|
8,441
|
[*****]
|
[*****]
|
[*****]
|
8,441
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1029
|
1029 SPOKANE
|
6,049
|
[*****]
|
[*****]
|
[*****]
|
6,049
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
2183
|
2183 SO PORTLAND
|
5,564
|
[*****]
|
[*****]
|
[*****]
|
5,564
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1104
|
1104 MARLBOROUGH
|
9,950
|
[*****]
|
[*****]
|
[*****]
|
9,950
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1043
|
1043 MERIDEN
|
6,910
|
[*****]
|
[*****]
|
[*****]
|
6,910
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1023
|
1023 DULLES/LOUDOUN CNTY
|
9,535
|
[*****]
|
[*****]
|
[*****]
|
9,535
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1131
|
1131 LITTLETON DENVER
|
6,372
|
[*****]
|
[*****]
|
[*****]
|
6,372
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1059
|
1059 SEATTLE/SHORELINE
|
6,575
|
[*****]
|
[*****]
|
[*****]
|
6,575
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1744
|
1744 OCEAN
|
8,224
|
[*****]
|
[*****]
|
[*****]
|
8,224
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1388
|
1388 COSTA MESA
|
8,042
|
[*****]
|
[*****]
|
[*****]
|
8,042
|
[*****]
|
[*****]
|
[*****]
|
1/31/2019
|
Owned
|
1600
|
1600 INDIANAPOLIS CASTLETON SQ
|
15,291
|
[*****]
|
[*****]
|
[*****]
|
15,291
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1570
|
1570 SCHAUMBURG
|
6,552
|
[*****]
|
[*****]
|
[*****]
|
6,552
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1754
|
1754 GAITHERSBURG
|
8,839
|
[*****]
|
[*****]
|
[*****]
|
8,839
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1271
|
1271 LITTLETON/DENVER SW
|
5,885
|
[*****]
|
[*****]
|
[*****]
|
5,885
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1734
|
1734 LAWRENCEVILLE
|
10,295
|
[*****]
|
[*****]
|
[*****]
|
10,295
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1136
|
1136 BIRMINGHAM/RIVERCHASE
|
4,215
|
[*****]
|
[*****]
|
[*****]
|
4,215
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1375
|
1375 WINSTON SALEM
|
10,406
|
[*****]
|
[*****]
|
[*****]
|
10,406
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1454
|
1454 BENSALEM/CORNWELLS HTS
|
7,123
|
[*****]
|
[*****]
|
[*****]
|
7,123
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1854
|
1854 PARKVILLE
|
7,928
|
[*****]
|
[*****]
|
[*****]
|
7,928
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1192
|
1192 MUSKEGON
|
4,261
|
[*****]
|
[*****]
|
[*****]
|
4,261
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1353
|
1353 DE WITT/SYRACUSE
|
8,801
|
[*****]
|
[*****]
|
[*****]
|
8,801
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1022
|
1022 OMAHA
|
4,760
|
[*****]
|
[*****]
|
[*****]
|
4,760
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1460
|
1460 LIVONIA
|
5,116
|
[*****]
|
[*****]
|
[*****]
|
5,116
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1171
|
1171 SPRINGFIELD
|
4,748
|
[*****]
|
[*****]
|
[*****]
|
4,748
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1074
|
1074 WALDORF/ST CHARLES
|
8,771
|
[*****]
|
[*****]
|
[*****]
|
8,771
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1012
|
1012 DES MOINES
|
4,841
|
[*****]
|
[*****]
|
[*****]
|
4,841
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
Store Num
|
Store Name
|
Lease Term
|
FY2015 Begin Sq Ft
|
Lease Factor
|
Yr 1 Rent PSF
|
Yr 1 Rent
|
FY2016 Begin Sq Ft
|
Lease Factor
|
Yr 2 Rent PSF
|
Yr 2 Rent
|
FY2017 Begin Sq Ft
|
Lease Factor
|
Yr 3 Rent PSF
|
Yr 3 Rent
|
1445
|
1445 RICHMOND
|
5.00
|
5,390
|
[*****]
|
[*****]
|
[*****]
|
5,390
|
[*****]
|
[*****]
|
[*****]
|
5,390
|
[*****]
|
[*****]
|
[*****]
|
1337
|
1337 PLANO
|
5.00
|
4,196
|
[*****]
|
[*****]
|
[*****]
|
4,196
|
[*****]
|
[*****]
|
[*****]
|
4,196
|
[*****]
|
[*****]
|
[*****]
|
1810
|
1810 CINCINNATI
|
5.00
|
8,305
|
[*****]
|
[*****]
|
[*****]
|
8,305
|
[*****]
|
[*****]
|
[*****]
|
8,305
|
[*****]
|
[*****]
|
[*****]
|
2092
|
2092 APPLETON
|
5.00
|
5,792
|
[*****]
|
[*****]
|
[*****]
|
5,792
|
[*****]
|
[*****]
|
[*****]
|
5,792
|
[*****]
|
[*****]
|
[*****]
|
2250
|
2250 CRYSTAL LAKE
|
5.00
|
7,155
|
[*****]
|
[*****]
|
[*****]
|
7,155
|
[*****]
|
[*****]
|
[*****]
|
7,155
|
[*****]
|
[*****]
|
[*****]
|
1210
|
1210 COLUMBUS/POLARIS
|
5.00
|
6,611
|
[*****]
|
[*****]
|
[*****]
|
6,611
|
[*****]
|
[*****]
|
[*****]
|
6,611
|
[*****]
|
[*****]
|
[*****]
|
1475
|
1475 DURHAM
|
5.00
|
7,596
|
[*****]
|
[*****]
|
[*****]
|
7,596
|
[*****]
|
[*****]
|
[*****]
|
7,596
|
[*****]
|
[*****]
|
[*****]
|
1690
|
1690 CHESTERFIELD
|
5.00
|
8,489
|
[*****]
|
[*****]
|
[*****]
|
8,489
|
[*****]
|
[*****]
|
[*****]
|
8,489
|
[*****]
|
[*****]
|
[*****]
|
1710
|
1710 NO OLMSTED
|
5.00
|
8,789
|
[*****]
|
[*****]
|
[*****]
|
8,789
|
[*****]
|
[*****]
|
[*****]
|
8,789
|
[*****]
|
[*****]
|
[*****]
|
1800
|
1800 MISHAWAKA
|
5.00
|
5,927
|
[*****]
|
[*****]
|
[*****]
|
5,927
|
[*****]
|
[*****]
|
[*****]
|
5,927
|
[*****]
|
[*****]
|
[*****]
|
1314
|
1314 NEW BRUNSWICK
|
5.00
|
7,107
|
[*****]
|
[*****]
|
[*****]
|
7,107
|
[*****]
|
[*****]
|
[*****]
|
7,107
|
[*****]
|
[*****]
|
[*****]
|
1120
|
1120 COLUMBUS
|
5.00
|
8,374
|
[*****]
|
[*****]
|
[*****]
|
8,374
|
[*****]
|
[*****]
|
[*****]
|
8,374
|
[*****]
|
[*****]
|
[*****]
|
1011
|
1011 GRANDVILLE
|
5.00
|
4,621
|
[*****]
|
[*****]
|
[*****]
|
4,621
|
[*****]
|
[*****]
|
[*****]
|
4,621
|
[*****]
|
[*****]
|
[*****]
|
1110
|
1110 PORTAGE
|
5.00
|
5,178
|
[*****]
|
[*****]
|
[*****]
|
5,178
|
[*****]
|
[*****]
|
[*****]
|
5,178
|
[*****]
|
[*****]
|
[*****]
|
1142
|
1142 EDEN PRAIRIE
|
5.00
|
6,837
|
[*****]
|
[*****]
|
[*****]
|
6,837
|
[*****]
|
[*****]
|
[*****]
|
6,837
|
[*****]
|
[*****]
|
[*****]
|
1265
|
1265 VIRGINIA BEACH
|
0.25
|
8,290
|
[*****]
|
[*****]
|
[*****]
|
8,290
|
[*****]
|
[*****]
|
[*****]
|
8,290
|
[*****]
|
[*****]
|
[*****]
|
1303
|
1303 DANBURY
|
0.25
|
8,357
|
[*****]
|
[*****]
|
[*****]
|
8,357
|
[*****]
|
[*****]
|
[*****]
|
8,357
|
[*****]
|
[*****]
|
[*****]
|
1204
|
1204 FREEHOLD
|
0.25
|
7,987
|
[*****]
|
[*****]
|
[*****]
|
7,987
|
[*****]
|
[*****]
|
[*****]
|
7,987
|
[*****]
|
[*****]
|
[*****]
|
1179
|
1179 CANOGA PK/TOPANGA PLZ
|
0.25
|
4,401
|
[*****]
|
[*****]
|
[*****]
|
4,401
|
[*****]
|
[*****]
|
[*****]
|
4,401
|
[*****]
|
[*****]
|
[*****]
|
Store Num
|
Store Name
|
FY2018 Begin
Sq Ft |
Lease Factor
|
Yr 4
Rent PSF |
Yr 4
Rent |
FY2019 Begin
Sq Ft |
Lease Factor
|
Yr 5
Rent PSF |
Yr 5
Rent |
Expiration Date
|
Leased/
Owned |
1445
|
1445 RICHMOND
|
5,390
|
[*****]
|
[*****]
|
[*****]
|
5,390
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1337
|
1337 PLANO
|
4,196
|
[*****]
|
[*****]
|
[*****]
|
4,196
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1810
|
1810 CINCINNATI
|
8,305
|
[*****]
|
[*****]
|
[*****]
|
8,305
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
2092
|
2092 APPLETON
|
5,792
|
[*****]
|
[*****]
|
[*****]
|
5,792
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
2250
|
2250 CRYSTAL LAKE
|
7,155
|
[*****]
|
[*****]
|
[*****]
|
7,155
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1210
|
1210 COLUMBUS/POLARIS
|
6,611
|
[*****]
|
[*****]
|
[*****]
|
6,611
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1475
|
1475 DURHAM
|
7,596
|
[*****]
|
[*****]
|
[*****]
|
7,596
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1690
|
1690 CHESTERFIELD
|
8,489
|
[*****]
|
[*****]
|
[*****]
|
8,489
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1710
|
1710 NO OLMSTED
|
8,789
|
[*****]
|
[*****]
|
[*****]
|
8,789
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1800
|
1800 MISHAWAKA
|
5,927
|
[*****]
|
[*****]
|
[*****]
|
5,927
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1314
|
1314 NEW BRUNSWICK
|
7,107
|
[*****]
|
[*****]
|
[*****]
|
7,107
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1120
|
1120 COLUMBUS
|
8,374
|
[*****]
|
[*****]
|
[*****]
|
8,374
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1011
|
1011 GRANDVILLE
|
4,621
|
[*****]
|
[*****]
|
[*****]
|
4,621
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1110
|
1110 PORTAGE
|
5,178
|
[*****]
|
[*****]
|
[*****]
|
5,178
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1142
|
1142 EDEN PRAIRIE
|
6,837
|
[*****]
|
[*****]
|
[*****]
|
6,837
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
Owned
|
1265
|
1265 VIRGINIA BEACH
|
8,290
|
[*****]
|
[*****]
|
[*****]
|
8,290
|
[*****]
|
[*****]
|
[*****]
|
5/2/2015
|
Owned
|
1303
|
1303 DANBURY
|
8,357
|
[*****]
|
[*****]
|
[*****]
|
8,357
|
[*****]
|
[*****]
|
[*****]
|
5/2/2015
|
Owned
|
1204
|
1204 FREEHOLD
|
7,987
|
[*****]
|
[*****]
|
[*****]
|
7,987
|
[*****]
|
[*****]
|
[*****]
|
5/2/2015
|
Owned
|
1179
|
1179 CANOGA PK/TOPANGA PLZ
|
4,401
|
[*****]
|
[*****]
|
[*****]
|
4,401
|
[*****]
|
[*****]
|
[*****]
|
5/3/2015
|
Owned
|
|
|
SUBLANDLORD:
|
|
SEARS, ROEBUCK AND CO., a New York corporation
|
corporation
|
|
By:
/s/Jeffrey Stollenwerck
|
Name: Jeffrey Stollenwerck
|
Title: SVP Real Estate
|
|
Date: July 6, 2015
|
|
KMART CORPORATION, a Michigan
|
corporation
|
|
By:
/s/Jeffrey Stollenwerck
|
Name: Jeffrey Stollenwerck
|
Title: SVP Real Estate
|
|
Date: July 6, 2015
|
SUBTENANT
:
|
|
LANDS’ END, INC., a Delaware corporation
|
|
|
By:
/s/Brian D. Kohlbeck
|
Name: Brian D. Kohlbeck
|
Title: Vice President, Business Finance
|
|
Date: July 6, 2015
|
24483183.1 121102 1117C 00700058
|
4
|
|
Store Num
|
Store Name
|
Lease Term
|
FY2015 Begin Sq Ft
|
Lease Factor
|
Yr 1 Rent PSF
|
Yr 1 Rent
|
FY2016 Begin Sq Ft
|
Lease Factor
|
Yr 2 Rent PSF
|
Yr 2 Rent
|
FY2017 Begin Sq Ft
|
Lease Factor
|
Yr 3 Rent PSF
|
Yr 3 Rent
|
1403
|
1403 NATICK
|
5.00
|
14,466
|
[*****]
|
[*****]
|
[*****]
|
14,466
|
[*****]
|
[*****]
|
[*****]
|
14,466
|
[*****]
|
[*****]
|
[*****]
|
1243
|
1243 HANOVER
|
3.00
|
15,329
|
[*****]
|
[*****]
|
[*****]
|
15,329
|
[*****]
|
[*****]
|
[*****]
|
15,329
|
[*****]
|
[*****]
|
[*****]
|
2173
|
2173 SARATOGA
|
3.00
|
6,281
|
[*****]
|
[*****]
|
[*****]
|
6,281
|
[*****]
|
[*****]
|
[*****]
|
6,281
|
[*****]
|
[*****]
|
[*****]
|
1334
|
1334 PITTSBURGH SOUTH HILLS
|
3.00
|
7,909
|
[*****]
|
[*****]
|
[*****]
|
7,909
|
[*****]
|
[*****]
|
[*****]
|
7,909
|
[*****]
|
[*****]
|
[*****]
|
2603
|
2603 NEW HARTFORD
|
0.49
|
8,657
|
[*****]
|
[*****]
|
[*****]
|
8,657
|
[*****]
|
[*****]
|
[*****]
|
8,657
|
[*****]
|
[*****]
|
[*****]
|
2023
|
2023 CONCORD
|
3.00
|
6,718
|
[*****]
|
[*****]
|
[*****]
|
6,718
|
[*****]
|
[*****]
|
[*****]
|
6,718
|
[*****]
|
[*****]
|
[*****]
|
2344
|
2344 STATE COLLEGE
|
0.57
|
3,056
|
[*****]
|
[*****]
|
[*****]
|
3,056
|
[*****]
|
[*****]
|
[*****]
|
3,056
|
[*****]
|
[*****]
|
[*****]
|
1470
|
1470 GREENWOOD
|
3.00
|
4,707
|
[*****]
|
[*****]
|
[*****]
|
4,707
|
[*****]
|
[*****]
|
[*****]
|
4,707
|
[*****]
|
[*****]
|
[*****]
|
1984
|
1984 BUFFALO/HAMBURG
|
3.00
|
8,118
|
[*****]
|
[*****]
|
[*****]
|
8,118
|
[*****]
|
[*****]
|
[*****]
|
8,118
|
[*****]
|
[*****]
|
[*****]
|
1534
|
1534 SCRANTON
|
0.91
|
5,963
|
[*****]
|
[*****]
|
[*****]
|
5,963
|
[*****]
|
[*****]
|
[*****]
|
5,963
|
[*****]
|
[*****]
|
[*****]
|
1199
|
1199 SAN MATEO
|
1.00
|
8,997
|
[*****]
|
[*****]
|
[*****]
|
8,997
|
[*****]
|
[*****]
|
[*****]
|
8,997
|
[*****]
|
[*****]
|
[*****]
|
2373
|
2373 NO DARTMOUTH
|
3.00
|
4,076
|
[*****]
|
[*****]
|
[*****]
|
4,076
|
[*****]
|
[*****]
|
[*****]
|
4,076
|
[*****]
|
[*****]
|
[*****]
|
1646
|
1646 PINEVILLE
|
1.47
|
5,894
|
[*****]
|
[*****]
|
[*****]
|
5,894
|
[*****]
|
[*****]
|
[*****]
|
5,894
|
[*****]
|
[*****]
|
[*****]
|
2343
|
2343 LANESBORO (PITTSFIELD)
|
1.73
|
5,537
|
[*****]
|
[*****]
|
[*****]
|
5,537
|
[*****]
|
[*****]
|
[*****]
|
5,537
|
[*****]
|
[*****]
|
[*****]
|
1064
|
1064 LANGHORNE/OXFORD VLY
|
2.04
|
8,103
|
[*****]
|
[*****]
|
[*****]
|
8,103
|
[*****]
|
[*****]
|
[*****]
|
8,103
|
[*****]
|
[*****]
|
[*****]
|
1323
|
1323 MIDDLETOWN
|
2.33
|
6,299
|
[*****]
|
[*****]
|
[*****]
|
6,299
|
[*****]
|
[*****]
|
[*****]
|
6,299
|
[*****]
|
[*****]
|
[*****]
|
2453
|
2453 GLENS FALLS
|
2.50
|
5,266
|
[*****]
|
[*****]
|
[*****]
|
5,266
|
[*****]
|
[*****]
|
[*****]
|
5,266
|
[*****]
|
[*****]
|
[*****]
|
1213
|
1213 AUBURN
|
2.75
|
9,695
|
[*****]
|
[*****]
|
[*****]
|
9,695
|
[*****]
|
[*****]
|
[*****]
|
9,695
|
[*****]
|
[*****]
|
[*****]
|
1725
|
1725 ANNAPOLIS
|
2.83
|
14,383
|
[*****]
|
[*****]
|
[*****]
|
14,383
|
[*****]
|
[*****]
|
[*****]
|
14,383
|
[*****]
|
[*****]
|
[*****]
|
1014
|
1014 ENFIELD
|
3.00
|
7,435
|
[*****]
|
[*****]
|
[*****]
|
7,435
|
[*****]
|
[*****]
|
[*****]
|
7,435
|
[*****]
|
[*****]
|
[*****]
|
1468
|
1468 CUPERTINO
|
0.72
|
6,483
|
[*****]
|
[*****]
|
[*****]
|
6,483
|
[*****]
|
[*****]
|
[*****]
|
6,483
|
[*****]
|
[*****]
|
[*****]
|
2664
|
2664 FREDERICK
|
3.50
|
7,829
|
[*****]
|
[*****]
|
[*****]
|
7,829
|
[*****]
|
[*****]
|
[*****]
|
7,829
|
[*****]
|
[*****]
|
[*****]
|
2113
|
2113 ROTTERDAM (SCHENECTADY)
|
3.58
|
6,546
|
[*****]
|
[*****]
|
[*****]
|
6,546
|
[*****]
|
[*****]
|
[*****]
|
6,546
|
[*****]
|
[*****]
|
[*****]
|
1674
|
1674 WHITE PLAINS
|
3.58
|
8,729
|
[*****]
|
[*****]
|
[*****]
|
8,729
|
[*****]
|
[*****]
|
[*****]
|
8,729
|
[*****]
|
[*****]
|
[*****]
|
1695
|
1695 ALPHARETTA
|
3.72
|
12,110
|
[*****]
|
[*****]
|
[*****]
|
12,110
|
[*****]
|
[*****]
|
[*****]
|
12,110
|
[*****]
|
[*****]
|
[*****]
|
1202
|
1202 BEAVERCREEK/DAYTON
|
3.73
|
7,316
|
[*****]
|
[*****]
|
[*****]
|
7,316
|
[*****]
|
[*****]
|
[*****]
|
7,316
|
[*****]
|
[*****]
|
[*****]
|
1024
|
1024 FALLS CHURCH
|
3.83
|
7,472
|
[*****]
|
[*****]
|
[*****]
|
7,472
|
[*****]
|
[*****]
|
[*****]
|
7,472
|
[*****]
|
[*****]
|
[*****]
|
1244
|
1244 YORK/GALLERIA
|
3.00
|
9,706
|
[*****]
|
[*****]
|
[*****]
|
9,706
|
[*****]
|
[*****]
|
[*****]
|
9,706
|
[*****]
|
[*****]
|
[*****]
|
2353
|
2353 KINGSTON
|
4.66
|
6,207
|
[*****]
|
[*****]
|
[*****]
|
6,207
|
[*****]
|
[*****]
|
[*****]
|
6,207
|
[*****]
|
[*****]
|
[*****]
|
2071
|
2071 CINCINNATI WESTERN HILLS
|
4.72
|
5,937
|
[*****]
|
[*****]
|
[*****]
|
5,937
|
[*****]
|
[*****]
|
[*****]
|
5,937
|
[*****]
|
[*****]
|
[*****]
|
1273
|
1273 HOLYOKE
|
4.73
|
7,635
|
[*****]
|
[*****]
|
[*****]
|
7,635
|
[*****]
|
[*****]
|
[*****]
|
7,635
|
[*****]
|
[*****]
|
[*****]
|
2323
|
2323 HYANNIS
|
4.83
|
7,915
|
[*****]
|
[*****]
|
[*****]
|
7,915
|
[*****]
|
[*****]
|
[*****]
|
7,915
|
[*****]
|
[*****]
|
[*****]
|
1330
|
1330 EVANSVILLE
|
4.83
|
4,495
|
[*****]
|
[*****]
|
[*****]
|
4,495
|
[*****]
|
[*****]
|
[*****]
|
4,495
|
[*****]
|
[*****]
|
[*****]
|
1170
|
1170 LANSING
|
4.83
|
9,553
|
[*****]
|
[*****]
|
[*****]
|
9,553
|
[*****]
|
[*****]
|
[*****]
|
9,553
|
[*****]
|
[*****]
|
[*****]
|
Store Num
|
Store Name
|
FY2018 Begin
Sq Ft |
Lease Factor
|
Yr 4
Rent PSF |
Yr 4
Rent |
FY2019 Begin
Sq Ft |
Lease Factor
|
Yr 5
Rent PSF |
Yr 5 Rent
|
Expiration Date
|
Leased/
Owned |
1403
|
1403 NATICK
|
14,466
|
[*****]
|
[*****]
|
[*****]
|
14,466
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
GroundLease
|
1243
|
1243 HANOVER
|
15,329
|
[*****]
|
[*****]
|
[*****]
|
15,329
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Lease
|
2173
|
2173 SARATOGA
|
6,281
|
[*****]
|
[*****]
|
[*****]
|
6,281
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Lease
|
1334
|
1334 PITTSBURGH SOUTH HILLS
|
7,909
|
[*****]
|
[*****]
|
[*****]
|
7,909
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Lease
|
2603
|
2603 NEW HARTFORD
|
8,657
|
[*****]
|
[*****]
|
[*****]
|
8,657
|
[*****]
|
[*****]
|
[*****]
|
7/31/2015
|
Lease
|
2023
|
2023 CONCORD
|
6,718
|
[*****]
|
[*****]
|
[*****]
|
6,718
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Lease
|
2344
|
2344 STATE COLLEGE
|
3,056
|
[*****]
|
[*****]
|
[*****]
|
3,056
|
[*****]
|
[*****]
|
[*****]
|
8/28/2015
|
Lease
|
1470
|
1470 GREENWOOD
|
4,707
|
[*****]
|
[*****]
|
[*****]
|
4,707
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Lease
|
1984
|
1984 BUFFALO/HAMBURG
|
8,118
|
[*****]
|
[*****]
|
[*****]
|
8,118
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Lease
|
1534
|
1534 SCRANTON
|
5,963
|
[*****]
|
[*****]
|
[*****]
|
5,963
|
[*****]
|
[*****]
|
[*****]
|
12/31/2015
|
Lease
|
1199
|
1199 SAN MATEO
|
8,997
|
[*****]
|
[*****]
|
[*****]
|
8,997
|
[*****]
|
[*****]
|
[*****]
|
1/31/2016
|
Lease
|
2373
|
2373 NO DARTMOUTH
|
4,076
|
[*****]
|
[*****]
|
[*****]
|
4,076
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Lease
|
1646
|
1646 PINEVILLE
|
5,894
|
[*****]
|
[*****]
|
[*****]
|
5,894
|
[*****]
|
[*****]
|
[*****]
|
7/23/2016
|
Lease
|
2343
|
2343 LANESBORO (PITTSFIELD)
|
5,537
|
[*****]
|
[*****]
|
[*****]
|
5,537
|
[*****]
|
[*****]
|
[*****]
|
10/25/2016
|
Lease
|
1064
|
1064 LANGHORNE/OXFORD VLY
|
8,103
|
[*****]
|
[*****]
|
[*****]
|
8,103
|
[*****]
|
[*****]
|
[*****]
|
2/15/2017
|
Lease
|
1323
|
1323 MIDDLETOWN
|
6,299
|
[*****]
|
[*****]
|
[*****]
|
6,299
|
[*****]
|
[*****]
|
[*****]
|
5/31/2017
|
Lease
|
2453
|
2453 GLENS FALLS
|
5,266
|
[*****]
|
[*****]
|
[*****]
|
5,266
|
[*****]
|
[*****]
|
[*****]
|
7/31/2017
|
Lease
|
1213
|
1213 AUBURN
|
9,695
|
[*****]
|
[*****]
|
[*****]
|
9,695
|
[*****]
|
[*****]
|
[*****]
|
10/31/2017
|
Lease
|
1725
|
1725 ANNAPOLIS
|
14,383
|
[*****]
|
[*****]
|
[*****]
|
14,383
|
[*****]
|
[*****]
|
[*****]
|
11/30/2017
|
Lease
|
1014
|
1014 ENFIELD
|
7,435
|
[*****]
|
[*****]
|
[*****]
|
7,435
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Lease
|
1468
|
1468 CUPERTINO
|
6,483
|
[*****]
|
[*****]
|
[*****]
|
6,483
|
[*****]
|
[*****]
|
[*****]
|
10/21/2015
|
Lease
|
2664
|
2664 FREDERICK
|
7,829
|
[*****]
|
[*****]
|
[*****]
|
7,829
|
[*****]
|
[*****]
|
[*****]
|
7/31/2018
|
Lease
|
2113
|
2113 ROTTERDAM (SCHENECTADY)
|
6,546
|
[*****]
|
[*****]
|
[*****]
|
6,546
|
[*****]
|
[*****]
|
[*****]
|
8/31/2018
|
Lease
|
1674
|
1674 WHITE PLAINS
|
8,729
|
[*****]
|
[*****]
|
[*****]
|
8,729
|
[*****]
|
[*****]
|
[*****]
|
8/31/2018
|
Lease
|
1695
|
1695 ALPHARETTA
|
12,110
|
[*****]
|
[*****]
|
[*****]
|
12,110
|
[*****]
|
[*****]
|
[*****]
|
10/19/2018
|
Lease
|
1202
|
1202 BEAVERCREEK/DAYTON
|
7,316
|
[*****]
|
[*****]
|
[*****]
|
7,316
|
[*****]
|
[*****]
|
[*****]
|
10/26/2018
|
Lease
|
1024
|
1024 FALLS CHURCH
|
7,472
|
[*****]
|
[*****]
|
[*****]
|
7,472
|
[*****]
|
[*****]
|
[*****]
|
11/30/2018
|
Lease
|
1244
|
1244 YORK/GALLERIA
|
9,706
|
[*****]
|
[*****]
|
[*****]
|
9,706
|
[*****]
|
[*****]
|
[*****]
|
1/31/2018
|
Lease
|
2353
|
2353 KINGSTON
|
6,207
|
[*****]
|
[*****]
|
[*****]
|
6,207
|
[*****]
|
[*****]
|
[*****]
|
9/30/2019
|
Lease
|
2071
|
2071 CINCINNATI WESTERN HILLS
|
5,937
|
[*****]
|
[*****]
|
[*****]
|
5,937
|
[*****]
|
[*****]
|
[*****]
|
10/19/2019
|
Lease
|
1273
|
1273 HOLYOKE
|
7,635
|
[*****]
|
[*****]
|
[*****]
|
7,635
|
[*****]
|
[*****]
|
[*****]
|
10/24/2019
|
Lease
|
2323
|
2323 HYANNIS
|
7,915
|
[*****]
|
[*****]
|
[*****]
|
7,915
|
[*****]
|
[*****]
|
[*****]
|
11/30/2019
|
Lease
|
1330
|
1330 EVANSVILLE
|
4,495
|
[*****]
|
[*****]
|
[*****]
|
4,495
|
[*****]
|
[*****]
|
[*****]
|
11/30/2019
|
Lease
|
1170
|
1170 LANSING
|
9,553
|
[*****]
|
[*****]
|
[*****]
|
9,553
|
[*****]
|
[*****]
|
[*****]
|
11/30/2019
|
Lease
|
Store Num
|
Store Name
|
Lease Term
|
FY2015 Begin Sq Ft
|
Lease Factor
|
Yr 1 Rent PSF
|
Yr 1 Rent
|
FY2016 Begin Sq Ft
|
Lease Factor
|
Yr 2 Rent PSF
|
Yr 2 Rent
|
FY2017 Begin Sq Ft
|
Lease Factor
|
Yr 3 Rent PSF
|
Yr 3 Rent
|
2694
|
2694 FREDERICKSBURG
|
5.00
|
5,347
|
[*****]
|
[*****]
|
[*****]
|
5,347
|
[*****]
|
[*****]
|
[*****]
|
5,347
|
[*****]
|
[*****]
|
[*****]
|
1544
|
1544 REGO PARK
|
5.00
|
7,421
|
[*****]
|
[*****]
|
[*****]
|
7,421
|
[*****]
|
[*****]
|
[*****]
|
7,421
|
[*****]
|
[*****]
|
[*****]
|
2138
|
2138 SANTA BARBARA
|
5.00
|
5,841
|
[*****]
|
[*****]
|
[*****]
|
5,841
|
[*****]
|
[*****]
|
[*****]
|
5,841
|
[*****]
|
[*****]
|
[*****]
|
1134
|
1134 MILFORD
|
5.00
|
9,130
|
[*****]
|
[*****]
|
[*****]
|
9,130
|
[*****]
|
[*****]
|
[*****]
|
9,130
|
[*****]
|
[*****]
|
[*****]
|
1154
|
1154 WHITEHALL
|
5.00
|
7,401
|
[*****]
|
[*****]
|
[*****]
|
7,401
|
[*****]
|
[*****]
|
[*****]
|
7,401
|
[*****]
|
[*****]
|
[*****]
|
1254
|
1254 WILMINGTON
|
5.00
|
7,863
|
[*****]
|
[*****]
|
[*****]
|
7,863
|
[*****]
|
[*****]
|
[*****]
|
7,863
|
[*****]
|
[*****]
|
[*****]
|
1143
|
1143 BROOKLYN/KINGS PLZ
|
5.00
|
7,105
|
[*****]
|
[*****]
|
[*****]
|
7,105
|
[*****]
|
[*****]
|
[*****]
|
7,105
|
[*****]
|
[*****]
|
[*****]
|
1733
|
1733 YONKERS
|
5.00
|
8,470
|
[*****]
|
[*****]
|
[*****]
|
8,470
|
[*****]
|
[*****]
|
[*****]
|
8,470
|
[*****]
|
[*****]
|
[*****]
|
2435
|
2435 CHARLOTTESVILLE
|
5.00
|
6,125
|
[*****]
|
[*****]
|
[*****]
|
6,125
|
[*****]
|
[*****]
|
[*****]
|
6,125
|
[*****]
|
[*****]
|
[*****]
|
1958
|
1958 SAN JOSE/OAK RIDGE
|
5.00
|
7,547
|
[*****]
|
[*****]
|
[*****]
|
7,547
|
[*****]
|
[*****]
|
[*****]
|
7,547
|
[*****]
|
[*****]
|
[*****]
|
1133
|
1133 LEOMINSTER
|
5.00
|
7,483
|
[*****]
|
[*****]
|
[*****]
|
7,483
|
[*****]
|
[*****]
|
[*****]
|
7,483
|
[*****]
|
[*****]
|
[*****]
|
1123
|
1123 DEDHAM
|
5.00
|
8,522
|
[*****]
|
[*****]
|
[*****]
|
8,522
|
[*****]
|
[*****]
|
[*****]
|
8,522
|
[*****]
|
[*****]
|
[*****]
|
1850
|
1850 LOUISVILLE OXMOOR
|
3.00
|
8,345
|
[*****]
|
[*****]
|
[*****]
|
8,345
|
[*****]
|
[*****]
|
[*****]
|
8,345
|
[*****]
|
[*****]
|
[*****]
|
1758
|
1758 ESCONDIDO
|
1.08
|
4,035
|
[*****]
|
[*****]
|
[*****]
|
4,035
|
[*****]
|
[*****]
|
[*****]
|
4,035
|
[*****]
|
[*****]
|
[*****]
|
1304
|
1304 SILVER SPRING
|
3.00
|
4,973
|
[*****]
|
[*****]
|
[*****]
|
4,973
|
[*****]
|
[*****]
|
[*****]
|
4,973
|
[*****]
|
[*****]
|
[*****]
|
1684
|
1684 WOODBRIDGE
|
1.51
|
9,422
|
[*****]
|
[*****]
|
[*****]
|
9,422
|
[*****]
|
[*****]
|
[*****]
|
9,422
|
[*****]
|
[*****]
|
[*****]
|
1368
|
1368 CONCORD
|
1.72
|
9,947
|
[*****]
|
[*****]
|
[*****]
|
9,947
|
[*****]
|
[*****]
|
[*****]
|
9,947
|
[*****]
|
[*****]
|
[*****]
|
1232
|
1232 COON RAPIDS
|
2.50
|
6,491
|
[*****]
|
[*****]
|
[*****]
|
6,491
|
[*****]
|
[*****]
|
[*****]
|
6,491
|
[*****]
|
[*****]
|
[*****]
|
1092
|
1092 WESTLAND (DETROIT)
|
2.72
|
3,506
|
[*****]
|
[*****]
|
[*****]
|
3,506
|
[*****]
|
[*****]
|
[*****]
|
3,506
|
[*****]
|
[*****]
|
[*****]
|
2027
|
2027 WASILLA
|
3.00
|
7,063
|
[*****]
|
[*****]
|
[*****]
|
7,063
|
[*****]
|
[*****]
|
[*****]
|
7,063
|
[*****]
|
[*****]
|
[*****]
|
1139
|
1139 TUKWILA
|
3.50
|
8,759
|
[*****]
|
[*****]
|
[*****]
|
8,759
|
[*****]
|
[*****]
|
[*****]
|
8,759
|
[*****]
|
[*****]
|
[*****]
|
1765
|
1765 PALM BEACH GARDENS
|
3.75
|
6,188
|
[*****]
|
[*****]
|
[*****]
|
6,188
|
[*****]
|
[*****]
|
[*****]
|
6,188
|
[*****]
|
[*****]
|
[*****]
|
2395
|
2395 MANASSAS
|
4.37
|
7,407
|
[*****]
|
[*****]
|
[*****]
|
7,407
|
[*****]
|
[*****]
|
[*****]
|
7,407
|
[*****]
|
[*****]
|
[*****]
|
1280
|
1280 SPRINGDALE
|
4.50
|
16,506
|
[*****]
|
[*****]
|
[*****]
|
16,506
|
[*****]
|
[*****]
|
[*****]
|
16,506
|
[*****]
|
[*****]
|
[*****]
|
1073
|
1073 EXTON
|
4.68
|
9,039
|
[*****]
|
[*****]
|
[*****]
|
9,039
|
[*****]
|
[*****]
|
[*****]
|
9,039
|
[*****]
|
[*****]
|
[*****]
|
1004
|
1004 GARDEN CITY
|
5.00
|
15,343
|
[*****]
|
[*****]
|
[*****]
|
15,343
|
[*****]
|
[*****]
|
[*****]
|
15,343
|
[*****]
|
[*****]
|
[*****]
|
1048
|
1048 PASADENA
|
5.00
|
7,168
|
[*****]
|
[*****]
|
[*****]
|
7,168
|
[*****]
|
[*****]
|
[*****]
|
7,168
|
[*****]
|
[*****]
|
[*****]
|
1278
|
1278 TORRANCE
|
5.00
|
7,489
|
[*****]
|
[*****]
|
[*****]
|
7,489
|
[*****]
|
[*****]
|
[*****]
|
7,489
|
[*****]
|
[*****]
|
[*****]
|
1044
|
1044 JERSEY CTY/NEWPORT
|
5.00
|
5,411
|
[*****]
|
[*****]
|
[*****]
|
5,411
|
[*****]
|
[*****]
|
[*****]
|
5,411
|
[*****]
|
[*****]
|
[*****]
|
1013
|
1013 GLEN BURNIE
|
5.00
|
8,050
|
[*****]
|
[*****]
|
[*****]
|
8,050
|
[*****]
|
[*****]
|
[*****]
|
8,050
|
[*****]
|
[*****]
|
[*****]
|
1283
|
1283 BRAINTREE
|
5.00
|
8,694
|
[*****]
|
[*****]
|
[*****]
|
8,694
|
[*****]
|
[*****]
|
[*****]
|
8,694
|
[*****]
|
[*****]
|
[*****]
|
1528
|
1528 SAN RAFAEL
|
5.00
|
6,922
|
[*****]
|
[*****]
|
[*****]
|
6,922
|
[*****]
|
[*****]
|
[*****]
|
6,922
|
[*****]
|
[*****]
|
[*****]
|
1404
|
1404 MASSAPEQUA
|
5.00
|
6,997
|
[*****]
|
[*****]
|
[*****]
|
6,997
|
[*****]
|
[*****]
|
[*****]
|
6,997
|
[*****]
|
[*****]
|
[*****]
|
1494
|
1494 MOORESTOWN
|
5.00
|
8,126
|
[*****]
|
[*****]
|
[*****]
|
8,126
|
[*****]
|
[*****]
|
[*****]
|
8,126
|
[*****]
|
[*****]
|
[*****]
|
1395
|
1395 KNOXVILLE WEST TOWN
|
5.00
|
7,705
|
[*****]
|
[*****]
|
[*****]
|
7,705
|
[*****]
|
[*****]
|
[*****]
|
7,705
|
[*****]
|
[*****]
|
[*****]
|
Store Num
|
Store Name
|
Lease Term
|
FY2015 Begin Sq Ft
|
Lease Factor
|
Yr 1 Rent PSF
|
Yr 1 Rent
|
FY2016 Begin Sq Ft
|
Lease Factor
|
Yr 2 Rent PSF
|
Yr 2 Rent
|
FY2017 Begin Sq Ft
|
Lease Factor
|
Yr 3 Rent PSF
|
Yr 3 Rent
|
1335
|
1335 GREENSBORO
|
5.00
|
5,856
|
[*****]
|
[*****]
|
[*****]
|
5,856
|
[*****]
|
[*****]
|
[*****]
|
5,856
|
[*****]
|
[*****]
|
[*****]
|
1654
|
1654 MEDIA
|
5.00
|
8,919
|
[*****]
|
[*****]
|
[*****]
|
8,919
|
[*****]
|
[*****]
|
[*****]
|
8,919
|
[*****]
|
[*****]
|
[*****]
|
1274
|
1274 RICHMOND/CHESTERFIELD
|
5.00
|
7,551
|
[*****]
|
[*****]
|
[*****]
|
7,551
|
[*****]
|
[*****]
|
[*****]
|
7,551
|
[*****]
|
[*****]
|
[*****]
|
1463
|
1463 BURLINGTON
|
5.00
|
7,315
|
[*****]
|
[*****]
|
[*****]
|
7,315
|
[*****]
|
[*****]
|
[*****]
|
7,315
|
[*****]
|
[*****]
|
[*****]
|
1374
|
1374 BEL AIR
|
5.00
|
6,517
|
[*****]
|
[*****]
|
[*****]
|
6,517
|
[*****]
|
[*****]
|
[*****]
|
6,517
|
[*****]
|
[*****]
|
[*****]
|
1253
|
1253 PEABODY
|
5.00
|
16,272
|
[*****]
|
[*****]
|
[*****]
|
16,272
|
[*****]
|
[*****]
|
[*****]
|
16,272
|
[*****]
|
[*****]
|
[*****]
|
1834
|
1834 NORTH WALES
|
5.00
|
9,819
|
[*****]
|
[*****]
|
[*****]
|
9,819
|
[*****]
|
[*****]
|
[*****]
|
9,819
|
[*****]
|
[*****]
|
[*****]
|
1722
|
1722 BLOOMINGTON
|
5.00
|
8,564
|
[*****]
|
[*****]
|
[*****]
|
8,564
|
[*****]
|
[*****]
|
[*****]
|
8,564
|
[*****]
|
[*****]
|
[*****]
|
1162
|
1162 AMHERST
|
5.00
|
7,207
|
[*****]
|
[*****]
|
[*****]
|
7,207
|
[*****]
|
[*****]
|
[*****]
|
7,207
|
[*****]
|
[*****]
|
[*****]
|
1644
|
1644 LANCASTER
|
5.00
|
8,635
|
[*****]
|
[*****]
|
[*****]
|
8,635
|
[*****]
|
[*****]
|
[*****]
|
8,635
|
[*****]
|
[*****]
|
[*****]
|
1031
|
1031 DENVER/CHERRY CREEK
|
0.15
|
17,027
|
[*****]
|
[*****]
|
[*****]
|
17,027
|
[*****]
|
[*****]
|
[*****]
|
17,027
|
[*****]
|
[*****]
|
[*****]
|
1124
|
1124 BAY SHORE
|
0.25
|
6,217
|
[*****]
|
[*****]
|
[*****]
|
6,217
|
[*****]
|
[*****]
|
[*****]
|
6,217
|
[*****]
|
[*****]
|
[*****]
|
Store Num
|
Store Name
|
FY2018 Begin
Sq Ft |
Lease Factor
|
Yr 4
Rent PSF |
Yr 4 Rent
|
FY2019 Begin
Sq Ft |
Lease Factor
|
Yr 5
Rent PSF |
Yr 5 Rent
|
Expiration Date
|
Leased/
Owned |
1335
|
1335 GREENSBORO
|
5,856
|
[*****]
|
[*****]
|
[*****]
|
5,856
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
GroundLease
|
1654
|
1654 MEDIA
|
8,919
|
[*****]
|
[*****]
|
[*****]
|
8,919
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
GroundLease
|
1274
|
1274 RICHMOND/CHESTERFIELD
|
7,551
|
[*****]
|
[*****]
|
[*****]
|
7,551
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
GroundLease
|
1463
|
1463 BURLINGTON
|
7,315
|
[*****]
|
[*****]
|
[*****]
|
7,315
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
GroundLease
|
1374
|
1374 BEL AIR
|
6,517
|
[*****]
|
[*****]
|
[*****]
|
6,517
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
GroundLease
|
1253
|
1253 PEABODY
|
16,272
|
[*****]
|
[*****]
|
[*****]
|
16,272
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
GroundLease
|
1834
|
1834 NORTH WALES
|
9,819
|
[*****]
|
[*****]
|
[*****]
|
9,819
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
GroundLease
|
1722
|
1722 BLOOMINGTON
|
8,564
|
[*****]
|
[*****]
|
[*****]
|
8,564
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
GroundLease
|
1162
|
1162 AMHERST
|
7,207
|
[*****]
|
[*****]
|
[*****]
|
7,207
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
GroundLease
|
1644
|
1644 LANCASTER
|
8,635
|
[*****]
|
[*****]
|
[*****]
|
8,635
|
[*****]
|
[*****]
|
[*****]
|
1/31/2020
|
GroundLease
|
1031
|
1031 DENVER/CHERRY CREEK
|
17,027
|
[*****]
|
[*****]
|
[*****]
|
17,027
|
[*****]
|
[*****]
|
[*****]
|
3/29/2015
|
GroundLease
|
1124
|
1124 BAY SHORE
|
6,217
|
[*****]
|
[*****]
|
[*****]
|
6,217
|
[*****]
|
[*****]
|
[*****]
|
5/3/2015
|
GroundLease
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Lands’ End, Inc.;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a.
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b.
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c.
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d.
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a.
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b.
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
Date: September 3, 2015
|
|
/s/ Federica Marchionni
|
Federica Marchionni
|
|
President and Chief Executive Officer
(Principal Executive Officer)
|
|
Lands’ End, Inc.
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Lands’ End, Inc.;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a.
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b.
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c.
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d.
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a.
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b.
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
Date: September 3, 2015
|
|
/s/ Michael P. Rosera
|
Michael P. Rosera
|
|
Executive Vice President and Chief Operating Officer, Chief Financial Officer and Treasurer
(Principal Financial Officer)
|
|
Lands’ End, Inc.
|
1.
|
The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
|
2.
|
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
|
|
September 3, 2015
|
|
/s/ Federica Marchionni
|
Federica Marchionni
|
President and Chief Executive Officer
(Principal Executive Officer)
|
|
/s/ Michael P. Rosera
|