The gross profit margin for the first quarter of Fiscal 2013 was 28.2%, 1.3 percentage points above the prior year’s adjusted margin. This increase was largely driven by merchandise margin improvement as well as buying and occupancy cost leverage and the benefit from foreign currency exchange rates mentioned above.Selling, general and administrative costs as a percent of sales were 16.2% in the first quarter, a 0.9 percentage point improvement over the prior year’s adjusted ratio, primarily driven by expense leverage on the above-plan comparable store sales increase.
The TJX Companies, Inc. Reports 41% Increase In First Quarter Adjusted EPS; Sees Strong Momentum Continue
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