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Subject: was partially offset by a reduced front margin econ. Volume discounts, rebates and promotional bonuses from suppliers, which are deducted from our cost of goods sold, were the main drivers of this increase, reflecting our improved supplier terms linked to both our growth and our larger scale. The increase was partially offset by a reduced front margin resulting from additional investment in lowering off-promotion prices for our customers, and by an intensification of our promotional activities, which led to sales at promotional prices (on which the margin is lower) making up a larger proportion of our total sales.
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