date:May 15, 2013
ow seasonality spiritswines in the first quarter.
Gross margin was 160.4 million, down by -0.8%, or 50.9% of sales.
Advertising and promotion spending (AP) was up by +1.2% to 45.3 million, or 14.4% of sales or 15.7% of sales excluding LdM (16.0% of sales in the first quarter of 2012).
Contribution after AP (gross margin after AP) was down by -1.6% to 115.1 million (-13.8% organic change), or 36.5% of sales.
Structure costs, i.e. selling, general and administrative costs, increased by +2