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Operating expenses for the fourth quarter of 2009 were $77.2 million, or 48.8 percent of net sales, as compared to $70.2 million, or 48.2 percent of net sales for the prior year period. The increase in operating expenses was primarily caused by increased occupancy, payroll, and depreciation expenses from having an additional 21 stores in operation at the end of the fourth quarter of 2009, compared to at the end of the fourth quarter of 2008. Operating expenses were also higher in the fourth quarter of 2009 due to $1.5 million in non-cash retail store impairment charges recorded during the period. Pre-opening expenses for retail stores were $0.2 million in the fourth quarter of 2009, versus $3.6 million in the prior year fourth quarter.
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