SG&A expenses for the second quarter and first half of fiscal 2012 increased from the respective prior year periods as a result of incremental store growth and its impact on associated operational costs. On a percent of sales basis, SG&A expenses increased by 32 basis points during the quarter and decreased 13 basis points for the 26 weeks ended April 1, 2012, as compared to the comparable periods of the prior year. The Company’s emphasis on cost controls and improved labor management has been effective in offsetting a portion of the increases in health and welfare costs, pension expense and other fringe benefit costs, as well as increased costs associated with the Company’s store remodeling program.SG&A expenses included new store pre-opening costs of $1.4 million (0.13% of sales) and $1.9 million (0.18% of sales) in the second quarter of fiscal 2012 and fiscal 2011, respectively. Pre-opening costs for the 26-week periods ended April 1, 2012 and April 3, 2011 were $2.8 million (0.13% of sales) and $3.9 million (0.18% of sales), respectively. New store pre-opening costs fluctuate between reporting periods depending on the new store opening schedule and market location.
Harris Teeter Supermarkets, Inc. Reports Results For The Second Quarter Of Fiscal 2012
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