Note 9 - Commitments and Contingencies

3 Months Ended

Feb. 28, 2015

Disclosure Text Block Supplement [Abstract]

Legal Matters and Contingencies [Text Block]

9. Commitments and Contingencies

We are involved in various legal and environmental matters, which arise in the normal course of business. Although the final outcome of these matters cannot be determined, based on the facts presently known, we believe that the final resolution of these matters will not have a material adverse effect on our financial position or future results of operations.

We lease land and buildings that are used in the operation of our Company-owned retail stores as well as in the operation of certain of our licensee-owned stores, and we lease land and buildings at various locations throughout the continental United States for warehousing and distribution hubs used in our logistical services segment. We also lease tractors, trailers and local delivery trucks used in our logistical services segment. Our real estate lease terms range from one to 15 years and generally have renewal options of between five and 15 years. Some store leases contain contingent rental provisions based upon sales volume. Our transportation equipment leases have terms ranging from two to seven years with fixed monthly rental payments plus variable charges based upon mileage. The following schedule shows future minimum lease payments under non-cancellable operating leases with terms in excess of one year as of February 28, 2015:

	Retail Stores		Distribution Centers		Transportation Equipment		Total
Remainder of fiscal 2015	$	13,893	$	2,297	$	1,944	$	18,134
Fiscal 2016		16,776		2,821		2,232		21,829
Fiscal 2017		14,258		1,581		1,717		17,556
Fiscal 2018		11,818		360		806		12,984
Fiscal 2019		9,952		69		755		10,776
Fiscal 2020		8,670		-		671		9,341
Thereafter		23,090		-		30		23,120
	$	98,457	$	7,128	$	8,155	$	113,740

We also have guaranteed certain lease obligations of licensee operators. Lease guarantees range from one to ten years. We were contingently liable under licensee lease obligation guarantees in the amount of $3,020 and $3,164 at February 28, 2015 and November 29, 2014, respectively.

In the event of default by an independent dealer under the guaranteed lease, we believe that the risk of loss is mitigated through a combination of options that include, but are not limited to, arranging for a replacement dealer, liquidating the collateral (primarily inventory), and pursuing payment under the personal guarantees of the independent dealer. The proceeds of the above options are expected to cover the estimated amount of our future payments under the guarantee obligations, net of recorded reserves. The fair value of lease guarantees (an estimate of the cost to the Company to perform on these guarantees) at February 28, 2015 and November 29, 2014 was not material.