12 ITEM 2. PROPERTIES At February 3, 2007, the Company operated stores in the following states and the District of Columbia: State Number of Stores Alabama 10 Arizona 7 Arkansas 3 California 20 Colorado 2 Florida 44 Georgia 17 Illinois 7 Indiana 6 Iowa 1 Kansas 2 Kentucky 3 Louisiana 8 Michigan 1 Mississippi 5 Missouri 3 Nebraska 1 Nevada 3 New Jersey 2 New York 3 North Carolina 20 Ohio 10 Oklahoma 5 Pennsylvania 4 South Carolina 14 Tennessee 12 Texas 42 Utah 1 Virginia 10 Washington DC 1 Wisconsin 1 Total 268 We lease all of our store locations and, therefore, have been able to grow without incurring indebtedness to acquire real estate. Management believes that we have earned a reputation as an “anchor tenant,” which, along with our established operating history, has enabled us to negotiate favorable lease terms. Most of our leases provide for minimum rents, as well as percentage rents that are based on sales in excess of predetermined levels. The table below reflects (i) the number of the Company's leases (as of February 3, 2007) that will expire each year if the Company does not exercise any of its renewal options, and (ii) the number of the Company's leases that will expire each year if the Company exercises all of its renewal options (assuming the lease is not otherwise terminated by either party pursuant to any other provision). The table includes the leases for the 268 store locations operated at February 3, 2007 and 7 previously closed store locations for which the Company has subleased or is actively seeking to sublease the property.
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