Gross profit, as a percentage of net sales, was 52.4% compared to 53.1% in the prior year quarter, resulting from lower merchandise margins due to higher levels of promotions compared to the prior year quarter.Selling, general and administrative (SG&A) expenses excluding $0.6 million in charges related to a secondary equity offering increased 31% to $22.8 million or 28.8% of net sales compared to the prior year quarter, excluding $0.5 million in charges related to a secondary equity offering, of $17.4 million or 28.4% of sales. The increase was principally due to operating additional boutiques and infrastructure investments to support the larger boutique base and direct-to-consumer sales growth.
Francesca's Reports First Fiscal Quarter 2013 Financial Results
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