Revenue during the quarter went up marginally by 1.26 percent to $976.36 million from $964.23 million in the previous year period. Gross margin for the quarter expanded 22 basis points over the previous year period to 49.51 percent. Total expenses were 88.65 percent of quarterly revenues, up from 87.63 percent for the same period last year. That has resulted in a contraction of 102 basis points in operating margin to 11.35 percent.

Operating income for the quarter was $110.82 million, compared with $119.23 million in the previous year period.

However, the adjusted operating income for the quarter was almost stable at $123.49 million when compared with the prior year period. At the same time, adjusted operating margin contracted 21 basis points in the quarter to 12.65 percent from 12.86 percent in the last year period.

“After a thorough and deliberate search, we are thrilled to have Don join our team as CFO and COO,” said Chris Brickman, president and chief executive officer. “Don is an accomplished executive with significant financial and operational expertise in the retail industry. His broad experience will be an asset to us as we build upon our strategy and prioritize our opportunities for long-term growth.”