Gross profit for the quarter increased 17% to $324 million, resulting in a gross profit margin of 28.4%, an increase of 20 basis points compared to the same period in 2016. This improvement was primarily driven by cycling a heightened promotional environment in the fourth quarter of 2016, in addition to leverage from increased comparable store sales.
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Gross profit for the quarter increased 17% to $324 million, resulting in a gross profit margin of 28.4%, an increase of 20 basis points compared to the same period in 2016. This improvement was primarily driven by cycling a heightened promotional environment in the fourth quarter of 2016, in addition to leverage from increased comparable store sales.
To access this information directly from the company, click here.
