Merchandise margins for the first six months of fiscal 2013 were 60.2% compared to 59.6% in the same period last year. Store occupancy costs were $136.6 million, or 18.8% of sales, compared to $133.1 million, or 19.7% of sales, last year. As a percentage of sales, gross profit for the first six months was 41.4% compared to 39.8% in the same period last year.Year-to-date selling, general and administrative expenses were $228.4 million, or 31.3% of sales, compared to $214.9 million, or 31.9% of sales, in the same period of fiscal 2012.
Pier 1 Imports, Inc. Reports Second Quarter Financial Results
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