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And transaction costs increased.
Housing costs increased the most.
In 2000, these costs increased 3.1percentt.
But administrative costs increased more than twice as fast.
Still, overall costs increased 58percentt because of the acquisitions.
"Operational and maintenance" costs increased by 34% in real terms.
Credit costs increased to $12.4 billion, including an addition of $3.9 billion to loan loss reserves.
The new owners cut Myer's supply chain costs, increased its capital expenditure and revamped its marketing.
Housing costs increased 0.1percentt April, after a gain of 0.4percentt in March.
"Because of the California crisis, power costs increased," Mr. Friedman said.
Expenses climbed 5.8percentto to $884.7 million, as marketing and personnel costs increased.
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CEO of Professional Science Editing for Scientists @ prosciediting.com