Stores average 5951 square feet. Stores opened during 2003 averaged 4800 square feet.
Now plans to open 50 doors in 2004. This will result in an increase in square footage of 7% – 8%.
Typical store carries 600-700 styles and 10,000+ pairs of shoes.
Operates 39 larger format stores that stock 1,000-1,300 styles and 20,000-30,000 pairs
Footwear was 80% of sales in 2003 down from 82% in 2002. Management feels that footwear will be between 78% – 80% of total sales in 2004.
Ad spend as a % of sales was 1.7%, up from 1.6% in Q1 2002.
Nike was 54% of purchases in 2003, down from 56% in 2002.
Five largest suppliers provided 79% of purchases in Q1 2003.
New stores require $500,000 in cash to open: $275,000 ($175,000 net of payables) in inventory, the rest in fixtures, equipment, leasehold improvements and pre-opening expenses.
