Content about 99 Cents Only

February 7, 2013
99 Cents Only Stores sales increase 8.8% in Q3

Net sales at 99 Cents Only Stores increased 8.8% in third quarter 2013, the company said.

CITY OF COMMERCE, Calif. — Net sales at 99 Cents Only Stores increased 8.8% in third quarter 2013, the company said.

The dollar-store chain announced sales of $439.5 million, a $35.6 million increase over third quarter 2012, while comps increased 4.3%. For the first three quarters of fiscal year 2013, sales were $1.23 billion, an 8.7% increase over the same period last year, while comps increased 4.3%. Profit for the quarter was $12.7 million, compared with $22.2 million at the end of third quarter 2012.

January 28, 2013
Changing of the guard at 99¢ Only Stores as acquirer Ares Management fills top exec spots

99¢ Only Stores last week announced that Richard Anicetti has assumed the role of interim CEO.

CITY OF COMMERCE, Calif. — 99¢ Only Stores last week announced that Richard Anicetti has assumed the role of interim CEO. In addition, Michael Fung will join the company as interim chief administrative officer overseeing finance, information technology, real estate and various administrative functions of the company. 

In connection with the foregoing changes, the original family management team Eric Schiffer, Jeff Gold and Howard Gold are no longer employed by the company. 

January 8, 2013
Dollar channel expanding its promotional horizons with this strong cough, cold and flu season

Fueled by strong store growth and increased household penetration, dollar stores have been stepping outside of their comfort zone in pursuit of consumer trips that have historically belonged to retail pharmacy.

COMMERCE, Calif. — Fueled by strong store growth and increased household penetration, dollar stores have been stepping outside of their comfort zone in pursuit of consumer trips that have historically belonged to retail pharmacy. 

December 18, 2012
99 Cents Only Stores launches new website

Regional store chain 99 Cents Only Stores has launched a new website that it said would offer more easily accessible information on new products, as well as company information.

COMMERCE, Calif. — Regional store chain 99 Cents Only Stores has launched a new website that it said would offer more easily accessible information on new products, as well as company information.

The chain — which operates 308 stores in California, Texas, Arizona and Nevada — said the new site was part of its efforts to improve the quality of information that it makes available to the public.

October 9, 2012
99 Cents Only seeks home on Rodeo Drive

99 Cents Only announced its official search for retail property on Rodeo Drive in Beverly Hills, Calif.

CITY OF COMMERCE, Calif. — 99 Cents Only announced its official search for retail property on Rodeo Drive in Beverly Hills, Calif.

The iconic street may be best known as a shopping district that houses designer label and haute couture fashion, but the extreme value retailer said it will be a strategic fit as it already has 222 stores in California.

September 13, 2012
99 Cents Only to debut Sanger, Calif., store

99 Cents Only Stores is opening a new store in Sanger, Calif.

CITY OF COMMERCE, Calif. — 99 Cents Only Stores is opening a new store in Sanger, Calif.

The new Sanger store, which officially opens its doors Sept. 20, is located at 2680 Jensen Ave. at the corner of Bethel Ave. The new store is approximately 19,000 sq. ft. and will feature a perishable food department, including produce, dairy and frozen foods.

99 Cents Only currently operates 302 extreme value retail stores, consisting of 221 stores in California, 37 in Texas, 29 in Arizona and 15 in Nevada.

June 29, 2012
99 Cents Only finds home in Reno

99 Cents Only is opening its first Reno, Nev., store in July.

CITY OF COMMERCE, Calif. — 99 Cents Only is opening its first Reno, Nev., store in July.

The company said the new store, which will open July 12, is 17,000 sq. ft. and will feature a large perishable food department, including produce, dairy and frozen foods.

99 Cents Only currently operates 300 retail stores, including 220 stores in California, 37 in Texas, 29 in Arizona and 14 in Nevada.

January 12, 2012
Value still resonates at 99 Cents Only

Sales at 99 Cents Only Stores rose 10.6% to $403.9 million for the third quarter of fiscal 2012 over sales of $365.4 milllion for the same quarter last year.

CITY OF COMMERCE, Calif. — Sales at 99 Cents Only Stores rose 10.6% to $403.9 million for the third quarter of fiscal 2012 over sales of $365.4 milllion for the same quarter last year.

The company's overall same-store sales for the third quarter of fiscal 2012 increased 8.5%. The number of same-store-sales transactions increased 5.6% and the average transaction size increased to $9.86 from $9.59.

December 5, 2011
Study: National dollar store chain locations outnumber those of national retail pharmacy chains

The combined store count of the county's largest dollar store chains outnumbers that of the largest retail pharmacy chains as continued economic difficulties drive the channel's growth, according to a new study released Monday by Colliers International.

SEATTLE — The combined store count of the county's largest dollar store chains outnumbers that of the largest retail pharmacy chains as continued economic difficulties drive the channel's growth, according to a new study released Monday by Colliers International.

November 10, 2011
99 Cents Only has big store plans, Q2 comps up 6.7%

A strong earnings and sales performance during its fiscal second quarter gave 99 Cents Only Stores the confidence to raise its full-year guidance and become more aggressive with store growth.

CITY OF COMMERCE, Calif. — A strong earnings and sales performance during its fiscal second quarter gave 99 Cents Only Stores the confidence to raise its full-year guidance and become more aggressive with store growth. The company reported that total retail sales increased 9% to $352.2 million and same-store sales increased 6.7% for the second quarter. Consolidated net income increased by $2.2 million to $15.1 million or 21 cents per diluted share, versus $12.9 million in the prior year, or 18 cents per diluted share

October 14, 2011
Q2 results make 99 Cents Only an attractive buy

The investment group that agreed to buy 99 Cents Only Stores for $1.6 billion must be pleased with the discounter's second-quarter results.

CITY OF COMMERCE, Calif. — The investment group that agreed to buy 99 Cents Only Stores for $1.6 billion must be pleased with the discounter's second-quarter results.

99 Cents Only Stores reported total sales of $363 million for the second quarter, an increase of 8.8% over total sales of $333.6 million for the same quarter last year. Same-store sales for the quarter were up 6.7%. The number of same-store-sales transactions increased 4.7% and the average transaction size increased to $9.62 from $9.44, the company reported.

October 12, 2011
99 Cents Only in $1.6 billion buyout

Discounter 99 Cents Only Stores said it has agreed to be acquired by a group of investors including its founding family, Ares Management and Canadian Pension Plan Investment Board for $1.6 billion in cash.

COMMERCE, CALIF. -- Discounter 99 Cents Only Stores said Tuesday it has agreed to be acquired by a group of investors — including its founding family, Ares Management and Canadian Pension Plan Investment Board — for $1.6 billion in cash.

The announcement ends a months-long sales process, which started with a takeover offer from Leonard Green & Partners in March.

August 9, 2011
99 Cents Only reports slight income growth

99 Cents Only Stores reported that its consolidated net income for the first quarter of fiscal 2012 was $17.7 million, or 25 cents per diluted share, compared with $16.8 million, or 24 cents per diluted share, for the prior year.

CITY OF COMMERCE, Calif. — 99 Cents Only Stores reported that its consolidated net income for the first quarter of fiscal 2012 was $17.7 million, or 25 cents per diluted share, compared with $16.8 million, or 24 cents per diluted share, for the prior year.

Eric Schiffer, CEO of 99 Cents Only Stores, stated, "We are pleased with our financial results for the first quarter of fiscal 2012. Our long-term operational improvement initiatives have continued to meet our expectations, resulting in earnings per share of 25 cents for the first quarter of fiscal 2012."

July 15, 2011
99 Cents Only reports Q1 sales growth

99 Cents Only Stores reported total sales of $368.3 million for the first quarter of fiscal 2012 ended July 2.

CITY OF COMMERCE, Calif. — 99 Cents Only Stores reported total sales of $368.3 million for the first quarter of fiscal 2012 ended July 2. This represents an increase of 6.3% over total sales of $346.5 million for the same quarter last year.

May 26, 2011
99 Cents Only sees slight Q4 comps growth

99 Cents Only Stores announced that retail sales for the fourth quarter of fiscal 2011, a 14-week period, were $366.4 million, compared with $328.6 million for the fourth quarter of fiscal 2010, a 13-week period.

CITY OF COMMERCE, Calif. — 99 Cents Only Stores announced that retail sales for the fourth quarter of fiscal 2011, a 14-week period, were $366.4 million, compared with $328.6 million for the fourth quarter of fiscal 2010, a 13-week period. The additional week included in the fourth quarter of fiscal 2011 contributed an additional $26.9 million of retail sales, the company reported. Same-store sales, calculated on a comparable 13-week period, increased 0.5%

April 26, 2011
99 Cents looks to lure the frugal bride

Retailers have been taking advantage of the much-anticipated royal wedding to promote their own wedding services, but one of the more surprising of the bunch is 99 Cents Only Stores, which used the hoopla around the upcoming union of Prince William and Kate Middleton to announce the launch of its bridal registry for couples.

CITY OF COMMERCE, Calif. — Retailers have been taking advantage of the much-anticipated royal wedding to promote their own wedding services, but one of the more surprising of the bunch is 99 Cents Only Stores, which used the hoopla around the upcoming union of Prince William and Kate Middleton to announce the launch of its bridal registry for couples.

April 15, 2011
Strong Q4 sales keep 99 Cents a hot commodity

Even with an extra week in this year's reporting period, 99 Cents Only Stores reported a total sales increase for it fiscal fourth quarter.

CITY OF COMMERCE, Calif. — Even with an extra week in this year's reporting period, 99 Cents Only Stores reported a total sales increase for it fiscal fourth quarter. The company reported total sales of $378.5 million for the 14-week fourth quarter of fiscal 2011 ended April 2, 2011, compared with $339.3 million for the 13-week fourth quarter in the prior fiscal year.

The company reported a same-store sales increase of 0.5% for the quarter. Excluding Texas operations, comps were up 0.7%.

March 11, 2011
Recognizing the value of a dollar store

First it was Family Dollar; now 99 Cents Only Stores finds itself in buyout talks, as investors are seeing the value in discount store chains.

CITY OF COMMERCE, Calif. — First it was Family Dollar; now 99 Cents Only Stores finds itself in buyout talks, as investors are seeing the value in discount store chains.

January 10, 2011
Rain dampens discounter's holiday performance

Third-quarter sales growth was hard to come by at 99 Cents Only as the extreme value retailer's heavy concentration of stores in Southern California were negatively affected by unseasonably strong rains that hit the region prior to Christmas.

CITY OF COMMERCE, Calif. — Third-quarter sales growth was hard to come by at 99 Cents Only as the extreme value retailer's heavy concentration of stores in Southern California were negatively affected by unseasonably strong rains that hit the region prior to Christmas.

August 4, 2010
99 Cents Only sees Q1 sales, earnings boost

99 Cents Only Stores reported that sales for the first quarter increased by 4.6% to $336.6 million and same-store sales increased 2.7%.

CITY OF COMMERCE, Calif. — 99 Cents Only Stores reported that sales for the first quarter increased by 4.6% to $336.6 million and same-store sales increased 2.7%. Consolidated net income increased by $7.3 million to $16.8 million, or 24 cents per diluted share, versus $9.5 million in the prior year, or 14 cents per diluted share.

July 8, 2010
99 Cents Only quarterly comps up 2.7%

99 Cents Only Stores reported total sales of $346.5 million in the first quarter of fiscal 2011 ended June 26.

CITY OF COMMERCE, Calif. — 99 Cents Only Stores reported total sales of $346.5 million in the first quarter of fiscal 2011 ended June 26. This represents an increase of 4.3% over total sales of $332.1 million for the same quarter last year.

The company said overall same-store sales for the first quarter of fiscal 2011 increased 2.7%, with the number of same-store sales transactions increasing 2.3% and the average transaction size increasing to $9.60 from $9.56.