SG&A expense, as a percentage of net sales, increased 77 basis points for the three month period ended September 30, 2012 compared to the prior year period. The increase in SG&A as a percentage of net sales was largely a result of increases in employee wage and benefit expenses due to increased health insurance costs, in addition to the deleveraging effect of the net sales decline. This increase was partially offset by decreases in other SG&A accounts as a result of cost control measures implemented during the first and second fiscal quarters.Net advertising expense, as a percentage of net sales, increased 48 basis points during the three months ended September 30, 2012 compared to the prior year period. The increase as a percentage of net sales was driven largely by the deleveraging effect of the net sales decline.
Hhgregg Announces Second Fiscal Quarter Operating Results
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