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99 Cents Only Stores Q1 sales increased $32.7 million

Staff writer ▼ | June 16, 2014
99 Cents Only Stores LLC announced its financial results for the first quarter of fiscal 2015 ended May 2, 2014. Net sales increased $32.7 million, to $477.9 million, compared to $445.2 million in the first quarter of fiscal 2014.
99 Cents Only Stores
99 Cents Only Stores99 Cents Only Stores LLC announced its financial results for the first quarter of fiscal 2015 ended May 2, 2014. Net sales increased $32.7 million, to $477.9 million, compared to $445.2 million in the first quarter of fiscal 2014.


Same-store sales decreased 0.5%, calculated on a comparable 13-week period of the prior year. Net income was $9.6 million in the first quarter of fiscal 2015 compared to net income of $0.9 million for the first quarter of fiscal 2014.

Net income as a percentage of total sales was 2.0% for the first quarter of fiscal 2015, compared to net income of 0.2% for the first quarter of fiscal 2014. Adjusted EBITDA was $45.7 million in the first quarter of fiscal 2015, compared to $43.6 million in the first quarter of fiscal 2014. Adjusted EBITDA margin was 9.6% compared to 9.8% over the same period.

During first quarter of fiscal 2015, the Company opened three net new stores. As of the end of the first quarter of fiscal 2015, the Company operated 346 stores, an increase of 9.5% in store count over last year.


 

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