Operating income increased $4.7 million to $21.7 million for the second quarter of fiscal 2012, compared to $17.0 million for the corresponding thirteen week period of fiscal 2011. Operating income as a percentage of sales for the second quarter of fiscal 2012 increased 40 basis points to 6.9%, compared to 6.5% for the corresponding period of fiscal 2011, including the approximately 50 basis point negative impact of the Company's public offering of common stock, incremental public company costs primarily related to share-based compensation expense and incremental net settlement payments made and received in connection with two legal matters. For the first half of fiscal 2012, operating income increased $13.7 million to $52.8 million, compared to $39.1 million in the corresponding twenty-six week period for fiscal 2011. As a percentage of sales, our operating margin increased by 80 basis points to 8.3% for the first half of fiscal 2012, compared to an operating margin of 7.5% for the corresponding period in fiscal 2011. The primary drivers of the increase in operating margin for the first half of fiscal 2012 were the increase in gross margin rate and a year-over-year decrease of transaction expenses incurred in connection with our public offerings of common stock, off-set by higher corporate expenses.Balance Sheet/Cash Flow
The Fresh Market, Inc. Reports Second Quarter And First Half Fiscal 2012 Earnings
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