Accessories reported 53.7% compared to 54.9% last year. SG&A In total, SG&A rose 9.9% to € 227.8 million in Q1 2008. As a percentage of sales, the cost ratio was at 33.8% versus 31.6% last year.
Marketing/Retail expenses were up by 20.6% to € 120.4 million that was due to higher marketing investments and the Retail expansion as planned.
As a percentage of sales, this represents a cost ratio of 17.9% compared to 15.2% in the previous year. Product development and design expenses were down by 11.4% to € 11.6 million, or from 2.0% to 1.7% of sales, mainly due to currency effects.
Other selling, general and administrative expenses increased 1.6% to € 95.9 million but declined from 14.4% to 14.2% of sales. EBIT EBIT amounts to € 125.8 million versus € 134.8 million last year.
As a percentage of sales this relates to a EBIT margin of 18.7% versus 20.6%. The tax ratio was 28.9% versus 29.1% in last year's quarter.
marketing@alchempro.com
