Selling and administrative expenses (often shortened to SG&A) are the costs of running the shops and the company: wages, rents, marketing, head office. They sit below the gross-profit line.
销售及管理费用
| Move变动 | Where it appeared出现位置 | What it means这句话在说什么 |
|---|---|---|
| 1% | H&M: operating profit jumps 23% as cost control pays off 销售及管理费用 · 第 5 张术语卡 | They fell 1% to SEK 24,832 m, and in local currencies also 1%. Because sales did not fall, a smaller cost base is exactly how a flat top line turns into 23% more operating profit. 利润表的三层结构，记住这三级台阶就够了：
净销售额 − 销货成本 = 毛利润；
毛利润 − 销售及管理费用 = 营业利润；
营业利润 − 利息与税项 = 税后利润。
H&M 这一次利润变好，主要发生在第二级台阶上：费用几乎没涨，销售额也几乎没涨。 |