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99 CENTS ONLY STORES REPORTS FOURTH QUARTER AND FULL-YEAR
FISCAL 2015 RESULTS
Fourth Quarter Fiscal 2015 Highlights:
· Net sales on a comparable 13-week basis increased by 8.1% to $512.6 million
· Opened 21 net new stores
· Same-store sales increased by 2.8%
· Adjusted EBITDA(1) was $34.6 million versus $50.0 million in prior year
· Net loss was $2.3 million versus net loss of $14.7 million in prior year
Full-Year Fiscal 2015 Highlights:
· Net sales on a comparable 52-week basis increased by 6.3% to $1,926.9 million
· Opened 40 net new stores
· Same-store sales increased by 0.4%
· Adjusted EBITDA was $143.7 million versus $155.1 million in prior year
· Net income was $5.5 million versus net loss of $10.9 million in prior year
CITY OF COMMERCE, California April 16, 2015 99 Cents Only Stores LLC (the Company) announced its financial results for each of the fourth quarter and full-year fiscal 2015 ended January 30, 2015. As previously announced, the Company changed its fiscal year from the Saturday closest to the end of March, to the Friday closest to the end of January in order to be in line with its retail industry peers. As a result of the change in the Companys fiscal year, for purposes of this release, the comparable prior year financial statements have been recast to conform to the new fiscal calendar.
For the fourth quarter of fiscal 2015, a 13-week period, the Companys net sales increased $6.9 million to $512.6 million, compared to $505.7 million in the fourth quarter of fiscal 2014, a 14-week period. On a comparable 13-week basis, net sales increased 8.1% during the fourth quarter. Same-store sales increased 2.8%, calculated on a comparable 13-week period, with increases in both customer traffic and average ticket. Same-store sales performance was driven by a significant increase in seasonal sales resulting from a wider selection of product offerings. Net loss was $2.3 million in the fourth quarter of fiscal 2015, compared to net
The following information was filed by 99 Cents Only Stores Llc (NCSO) on Thursday, April 16, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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