So in this study the margin (net understood) would be the gross margin minus expenses (including, all operating costs ... including salaries ...) ... not bad as a nice spin, go ahead I fly the consumer...
In short what does the CSA ????
An article on the subject of net margins ...
http://www.challenges.fr/services-et-di ... ettes.html
Attacked last summer on the level of their gross margin, the major retailers respond via a study that reveals an average net margin in the sector of only 1,4%.
... and on that of the gross margins:
http://www.lexpress.fr/actualite/econom ... 06868.html
The large distribution margin: "between 30 and 50%"
In short it is like negative growth, must speak of net margin instead of profit ...
Official publication: http://www.fcd.asso.fr/actualites/article/id/26