This excerpt taken from the SWY 8-K filed Feb 25, 2010.
Gross profit declined 14 basis points to 28.64% of sales in the fourth quarter of 2009 compared to 28.78% of sales in the fourth quarter of 2008. Excluding the two basis point impact from fuel sales, gross profit declined 16 basis points. This decline was largely the result of investments in everyday price and increased advertising, partly offset by lower LIFO expense and increased gift card sales. This excerpt taken from the SWY 8-K filed Oct 15, 2009.
Gross profit increased 78 basis points to 28.27% of sales in the third quarter of 2009 compared to 27.49% of sales in the third quarter of 2008. Excluding the 84 basis point impact from fuel sales, gross profit declined six basis points. This decline was largely the result of investments in everyday price and increased advertising, partly offset by lower LIFO expense and lower energy expense.
This excerpt taken from the SWY 8-K filed Jul 23, 2009.
Gross profit increased 56 basis points to 28.87% of sales in the second quarter of 2009 compared to 28.31% of sales in the second quarter of 2008. Excluding the 99 basis point impact from fuel sales, gross profit declined 43 basis points. This decline was largely the result of investments in everyday price, partly offset by lower energy and LIFO expense. This excerpt taken from the SWY 8-K filed Apr 30, 2009.
Gross profit declined seven basis points to 28.72% of sales in the first quarter of 2009 compared to 28.79% of sales in the first quarter of 2008. Excluding the 79 basis point impact from fuel sales, gross profit declined 86 basis points. This decline was primarily the result of investments in everyday prices, as well as an elevated level of promotional spending. Investments in everyday prices will continue, while promotional spending is expected to return to normal levels. This excerpt taken from the SWY 8-K filed Feb 26, 2009.
Gross profit increased nine basis points to 28.78% of sales in the fourth quarter of 2008 compared to 28.69% of sales in the fourth quarter of 2007. Excluding the 66 basis point benefit from improved gross margin on fuel sales, gross profit declined 57 basis points. This decline was the result of investments in price, partly offset by lower advertising expense and higher revenue from third-party gift cards. This excerpt taken from the SWY 8-K filed Oct 7, 2008.
Gross profit declined 102 basis points to 27.49% of sales in the third quarter of 2008 compared to 28.51% of sales in the third quarter of 2007. Higher fuel sales (which have a lower gross margin) reduced gross profit margin by 55 basis points. The remaining 47 basis point decline was the result of investments in price, higher LIFO expense and higher energy costs, partly offset by improved shrink and lower advertising expense.
This excerpt taken from the SWY 8-K filed Jul 17, 2008.
Gross profit declined 20 basis points to 28.31% of sales in the second quarter of 2008 compared to 28.51% of sales in the second quarter of 2007. Excluding the effect of higher fuel sales (which have a lower gross margin) gross profit margin increased 26 basis points. This improvement was the result of improved shrink and lower advertising expense, partly offset by investments in price.
This excerpt taken from the SWY 8-K filed Apr 24, 2008.
Gross profit declined 50 basis points to 28.79% of sales in the first quarter of 2008 compared to 29.29% of sales in the first quarter of 2007. Higher fuel sales (which have a lower gross margin) reduced gross profit by 38 basis points. The remaining 12 basis- point decline is the result of investments in price, partly offset by improved shrink and lower advertising expense.
This excerpt taken from the SWY 8-K filed Feb 21, 2008.
Gross profit declined 44 basis points to 28.69% of sales in the fourth quarter of 2007 compared to 29.13% of sales in the fourth quarter of 2006. Higher fuel sales (which have a lower gross margin) reduced gross profit by 50 basis points. The remaining 6 basis- point increase is the result of improved shrink, lower advertising expense and higher revenue from Blackhawk Network, partly offset by investments in price and higher LIFO expense. LIFO expense was $7.0 million in the fourth quarter of 2007 compared to LIFO income of $5.8 million in 2006. This excerpt taken from the SWY 8-K filed Oct 11, 2007.
Gross profit margin increased 21 basis points to 28.51% of sales in the third quarter of 2007 compared to 28.30% in the third quarter of 2006, primarily because of lower advertising and supply chain expense. This excerpt taken from the SWY 8-K filed Jul 19, 2007.
Gross profit margin decreased 15 basis points to 28.51% of sales in the second quarter of 2007 compared to 28.66% in the second quarter of 2006. Higher fuel sales (which have a lower gross profit margin) accounted for 14 basis points of the gross profit margin decline. This excerpt taken from the SWY 8-K filed Apr 26, 2007.
Gross profit increased 19 basis points to 29.29% of sales in the first quarter of 2007 compared to 29.10% in the first quarter of 2006. The increase in gross profit margin is primarily the result of lower advertising expense, savings from distribution initiatives, and improved shrink, partly offset by investments in price. This excerpt taken from the SWY 8-K filed Feb 22, 2007.
Gross profit increased 2 basis points to 29.13% of sales in the fourth quarter of 2006 compared to 29.11% of sales in the fourth quarter of 2005. Higher fuel sales (which have a lower gross margin) reduced gross profit by 15 basis points. The remaining 17 basis- point increase is the result of savings from product-sourcing and distribution initiatives and improved product mix, partly offset by investments in price and higher advertising expense.
This excerpt taken from the SWY 8-K filed Oct 12, 2006.
Gross profit margin declined 28 basis points to 28.30% of sales in the third quarter of 2006 compared to 28.58% in the third quarter of 2005. Higher fuel sales (which have a lower gross margin) reduced gross profit margin by 19 basis points. The remaining 9 basis point decline is largely the result of investments in price and advertising, partly offset by improvement in shrink.
This excerpt taken from the SWY 8-K filed Jul 20, 2006.
Gross profit increased to $2.7 billion in the second quarter of 2006 from $2.5 billion in the second quarter of 2005. Gross profit margin decreased 8 basis points to 28.66% of sales in the second quarter of 2006 compared to 28.74% in the second quarter of 2005. Excluding the 50 basis-point decrease attributable to higher fuel sales (which have a
lower gross margin), gross profit margin increased 42 basis points due largely to reduced shrink as well as procurement cost savings, partly offset by selected price investments. This excerpt taken from the SWY 8-K filed Apr 27, 2006.
Gross profit increased to $2.6 billion in the first quarter of 2006 from $2.5 billion in the first quarter of 2005. Gross profit margin declined 12 basis points to 29.10% of sales in the first quarter of 2006 compared to 29.22% in the first quarter of 2005. Higher fuel sales (which have a lower gross margin) reduced gross profit by 30 basis points. The remaining net increase in gross profit margin of 18 basis points is due primarily to reduced shrink, partially offset by investments in pricing, higher advertising and higher energy costs.
This excerpt taken from the SWY 8-K filed Feb 23, 2006.
Gross profit declined 36 basis points to 29.11% of sales in the fourth quarter of 2005 compared to 29.47% of sales in the fourth quarter of 2004. Higher fuel sales (which have a lower gross margin) reduced gross profit by 27 basis points. Higher energy costs reduced gross profit by 4 basis points in the fourth quarter of 2005. The remaining decline is the result of the grand opening of Lifestyle stores and targeted investments in price, offset by improved shrink. This excerpt taken from the SWY 8-K filed Oct 18, 2005.
Primarily because of fuel sales, which have a lower gross margin, gross profit declined 98 basis points to 28.58% of sales in the third quarter of 2005 compared to 29.56% in the third quarter of 2004. Fuel sales reduced gross profit margin by 65 basis points. The remaining 33 basis point decline is largely the result of the grand opening of 79 Lifestyle stores, increased advertising expenses, investments in price and higher energy costs.
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This excerpt taken from the SWY 8-K filed Jul 26, 2005.
Gross profit margin declined 42 basis points to 28.74% of sales in the second quarter of 2005 compared to 29.16% in the second quarter of 2004. Higher fuel sales (which have a lower gross margin) reduced gross profit by 36 basis points. The recovery from the strike in Southern California improved gross margin but was offset by increased advertising, investments in price and other expenses.
This excerpt taken from the SWY 8-K filed May 3, 2005.
Gross profit increased 8.6% to $2.5 billion in the first quarter of 2005 from $2.3 billion in the first quarter of 2004. Gross profit margin declined 99 basis points to 29.22% of sales in the first quarter of 2005 compared to 30.21% in the first quarter of 2004. Higher fuel sales (which have a lower gross margin) reduced gross profit by 33 basis points. The remaining decline is due to investments in price and increased advertising, partly offset by the recovery from the strike in Southern California.
This excerpt taken from the SWY 8-K filed Feb 24, 2005.
Gross profit was 29.47% of sales in the fourth quarter of 2004 compared to 29.43 % in the fourth quarter of 2003. Higher fuel sales (which have a lower gross margin) reduced gross profit by 43 basis points, and the estimated impact of the strike reduced gross profit by 15 basis points. Gross profit in 2003 was reduced 64 basis points due to the charge to accrue estimated physical inventory losses. Excluding these items, gross profit was essentially flat.
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