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Hancock Fabrics Q2 earnings increase by $8.6 mn
27 Aug '09
4 min read
Selling, general and administrative expenses for the second quarter decreased to $26.9 million (45.2% of sales) from $28.9 million (45.3% of sales) in the prior year. For the first half, selling, general and administrative expenses have been reduced by $4.5 million to $54.1 million (43.8% of sales) from $58.6 million (45.9% of sales) in the first half of the last year. Both the second quarter and first half reductions were driven by increased labor efficiency, reduced store operating expenses, and savings of professional fees.
During the first half of fiscal 2009, the Company opened 2 stores, remodeled 4 locations, and ended the quarter with 264 stores.
During the first half of fiscal 2009, the Company opened 2 stores, remodeled 4 locations, and ended the quarter with 264 stores.
Hancock Fabrics
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