99 Cents Only stores post $1.7 billion in net sales for fiscal 2013
CITY OF COMMERCE, Calif. — 99 Cents Only Stores on Wednesday posted a net sales increase of 8.9% to $1.7 billion for fiscal 2013. Same-store sales, calculated on a comparable 52-week period, increased 4.3%.
During the fourth quarter of fiscal 2013, the dollar store operator opened seven stores in California and now operates 316 stores, an increase of 6% in store count over last year.
For fiscal 2013, average annual sales per store for all stores open for at least 12 months, on a comparable 52-week period, were $5.3 million, compared to $5.2 million for fiscal 2012. Fiscal 2013 average annual sales per estimated saleable square foot for all stores open for at least 12 months, on a comparable 52-week period, increased to $321, compared to fiscal 2012 average annual sales per estimated saleable square foot of $309 for all stores open for at least 12 months as of March 31, 2012, the company reported.
99 Cents Only Stores plans to open some 30 new locations in fiscal 2014, all of which are expected to be opened in existing markets.
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