Selling, general and administrative expenses increased 10.9% to $2.9 billion. As a percentage of net sales, SG&A expenses were 27.6% in fiscal 2013 compared with 27.7% in fiscal 2012. As a percentage of net sales, lower incentive-compensation expense was partially offset by higher store occupancy costs.Operating profit in fiscal 2013 was $688.0 million compared with $664.2 million in fiscal 2012. As a percentage of net sales, operating profit was 6.6% in fiscal 2013 as compared to 7.1% in fiscal 2012. Adjusted operating profit in fiscal 2013 was $683.0 million compared with $675.7 million in fiscal 2012, excluding the favorable $5.0 million accounting adjustment in the fourth quarter of fiscal 2013 and the litigation charge of $11.5 million in the fourth quarter of fiscal 2012. As a percentage of net sales, adjusted operating profit was 6.6% in fiscal 2013 as compared to adjusted operating profit of 7.2% in fiscal 2012.
Family Dollar Reports Record Sales And Earnings Results
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