Strong merchandise margins at Cato in Q2FY18
07 Sep 18 2 min read
"We had a solid performance in the second quarter and first half of 2018 mainly due to positive same-store sales and strong merchandise margins, as a result of much lower markdown sales versus last year," said
For the six months ended
Gross margin increased 610 basis points to 37.2 per cent of sales in the quarter, primarily due to higher merchandise margins and lower buying and occupancy costs. SG&A expenses as a percent of sales increased 190 basis points to 33.3 per cent during the quarter primarily due to higher incentive compensation. Income tax for the quarter was an expense of
Year-to-date, the gross margin increased to 38.6 per cent of sales from 35.2 per cent the prior year primarily due to higher merchandise margins and lower buying and occupancy costs. The year-to-date SG&A rate was 30.4 per cent versus 28.9 per cent last year primarily due to higher incentive compensation and insurance costs. Income tax was an expense of
Fibre2Fashion News Desk – India
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