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Part of this gross product margin improvement was due to the introduction of new products that provided required functionality at a lower cost. Gross product margin for the first quarter ended September 28, 2001 was 38%, compared with a negative gross product margin for the fourth quarter ended June 28, 2001. Average sales for these House2Home stores for the 21-week period between their September 2000 opening and fiscal year end totaled $7 million per store, with an average ticket of just over $60 and an average gross product margin of 39. |
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