Our Brick & Mortar stores have the following characteristics:

• Selling space of less than 1,500 square feet
• Capital cost, net of landlord contribution, of less than $400,000, for commissary units; less for satellite stores
• Sales per square foot exceeding $2,000: to put this in context, Whole Foods in its last SEC filing disclosed sales per square foot of $909, and the sales/psf average for the entire supermarket industry was $618
• Prime costs ( i.e. food, labor and packaging) of less than 60% of sales
• Occupancy typically less than 8.0% of sales
• Store level EBITDA margin of 18.0%+
• Store level, steady state cash on cash return exceeding 150% annually