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Facilities
We lease various office space in New Jersey, Missouri, and India and we lease warehouse space in Missouri.
For our physical campus retail operations, we typically have the exclusive right to operate the official physical school bookstore on college campuses through multi-year management operating agreements with our schools. In turn, we pay the school a percentage of store sales and, in some cases, a minimum fixed guarantee. These contracts with colleges and universities are typically five years with renewal options, but can range from one to 17 years, and are typically cancellable by either party without penalty upon advance notice ranging from 90 to 180 days depending on the contract.
As of May 2, 2026, these contracts for the 647 physical stores that we operate expire as follows:
Contract Terms to Expire During (12 months ending on or about April 30) Number of Physical Campus Stores
2027 94
2028 74
2029 42
2030 46
2031 62
2032 and later 329
34
Index to Form 10-K Index to FS