Austin Ligon Quotes on Selling (1 Quote)

Selling, general, and administrative expenses as a percent of net sales and operating revenues increased slightly to 11.4 in this year's third quarter from 11.3 in last year's quarter. As expected, the moderate rate of increase in unit comps was not sufficient to provide SGA leverage. Having a larger percentage of our store base comprised of stores not yet at basic maturity and last year's lower-than-normal corporate bonuses were also contributing factors. At the end of this year's third quarter, 49 of our stores were less than four years old, compared with 40 at the end of last year's third quarter.