We had no significant asset sales in the first six months of fiscal 2001. We are excited about the stores that we are opening during the balance of the fiscal year and believe that although the costs of constructing these new stores have somewhat negatively impacted earnings for the quarter, the addition of these stores will have a positive impact going forward. We continue to review our operations and look for ways to increase sales and gross margins, while controlling operating expenses. We closed two stores during the quarter as a result of a continual analysis of operations and profitability. Our primary focus and the majority of our capital investments are on improving existing operations through modernizing our facilities and carefully analyzing ways to control costs.
New stores planned are in currently existing markets.
Our management is firmly focused on ways to improve profitability and solidify market share. The comments in this press release contain certain forward-looking statements. Ingles undertakes no obligation to publicly release any revisions to any forward-looking statements contained herein to reflect events or circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Ingles' actual results may differ materially from those projected in forward-looking statements made by, or on behalf of, Ingles. Factors that may affect results include changes in business and economic conditions generally in Ingles' operating area, pricing pressures, increased competitive efforts by others in Ingles' marketing areas and the availability of financing for capital improvements.