Got it. Thank you.
Operator
And our next question comes from the line of Michael Corelli with Barry Vogel & Associates. Your line is open.
Michael Corelli – Barry Vogel & Associates
Hi, good afternoon. Just a question about the remodels, could you tell us how many stores have been remodeled to date? How many kind of you think are still eligible and just talk about considering you obviously have the cash available why not accelerate the program? Is it a manpower issue, what are your thoughts about that?
James Kerr
We’ve remodeled about 60 stores to date. They still continue to give us the results we expect which is about 8% better than the chain average in terms of their comp in that first year after remodel. Also, we’ve been pleasantly surprised we didn’t count on in their second year after remodel; they actually outperformed the chain average as well not by as much but they outperformed the chain average.
It’s really not I would say a manpower issue or a capital issue. We’re going to do 30 again this year. Where we’re getting the most benefit actually is when we remodel the store and can add craft product and expand the assortment. So, as we get in to some of the smaller stores, it’s going to be a little bit tougher to get the type of returns we’re going to get on the first groups of stores. We continue to look at that and it’s definitely something we’re going to continue to go forward with.
Michael Corelli – Barry Vogel & Associates
How many do you think are left that are eligible?
Darrell Webb
Probably another couple of years worth, 60 to 75 beyond this year.
James Kerr
It really ties in to our store opening strategy. So, our smaller stores would be candidates to relocate or expand. Therefore, that’s where we are also very careful in terms of when we look at candidates to remodel what’s happening in those stores in terms of a potential relocation within that market over the next few years.
Michael Corelli – Barry Vogel & Associates
Okay. Thanks a lot.
Operator
And once again, if you have a question, please press “*” and the number “1” on your telephone keypad. Our next question comes from the line of Joan Storms with Wedbush. Your line is open.
Joan Storms – Wedbush Morgan Securities
Hi. Just a follow up on your initiative to be driving sales in 2010, you talked a little bit about modifying the marketing content, I didn’t know if you could provide any more detail there? And also about the in store promotions or planograms, etc.? |