Last10K.com

99 Cents Only Stores Llc (NCSO) SEC Filing 10-Q Quarterly report for the period ending Friday, July 29, 2016

99 Cents Only Stores Llc

CIK: 1011290 Ticker: NCSO

Exhibit 99.1

 

GRAPHIC

 

99 CENTS ONLY STORES REPORTS SECOND QUARTER FISCAL 2017 RESULTS

 

Second Quarter Fiscal 2017 Overview:

 

·                  Net sales increased 1.6% to $496.4 million compared to the prior year

·                  Same-store sales increased by 1.1%

·                  Net loss was $35.1 million compared to net loss of $78.1 million in prior year

·                  Adjusted EBITDA(1) was $5.2 million compared to $6.9 million in prior year

 

CITY OF COMMERCE, California — September 8, 2016 — 99 Cents Only Stores LLC

(the “Company”) announced its financial results for second quarter of fiscal 2017 ended July 29, 2016.

 

Geoffrey Covert, President and Chief Executive Officer, stated, “I remain encouraged by our progress in executing our turnaround plan. With measurable improvement this past quarter, we have solid momentum as we enter the second half of fiscal 2017. Progress is evident across many aspects of the enterprise and our improved sales performance provides an indication that our plan is taking hold.  During the second quarter, same-store sales were positive 1.1%, and on a year to date basis, same store sales improved to positive 0.5%. In addition, total inventory as of the end of the second quarter was $176 million, down nearly $100 million from $275 million as of the end of the second quarter last year.  Finally, our improved sales performance and lower inventory levels have collectively strengthened our liquidity position.  Cash borrowings under our ABL facility are now the lowest they have been in the past two years. As of the end of the second quarter cash borrowings under our ABL facility were $21 million, down $19 million compared to the prior quarter end and down $86 million from a year ago.”

 

Mr. Covert concluded, “Since beginning our turn-around plan in the third quarter last year, we have maintained that it will take time to operationally address our key issues—and even longer for the changes we are making to be fully reflected in our financial results.  However, based on the results of the first half of fiscal 2017, I am optimistic that we remain on-track to return 99 Cents Only Stores to sustained growth in the long-run.”

 

Second Quarter Financial Results

 

For the second quarter of fiscal 2017, the Company’s net sales increased 1.6%, to $496.4 million, compared to $488.5 million in the second quarter of fiscal 2016. Same-store sales increased

 


The following information was filed by 99 Cents Only Stores Llc (NCSO) on Thursday, September 8, 2016 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate 99 Cents Only Stores Llc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by 99 Cents Only Stores Llc.

Continue

Assess how 99 Cents Only Stores Llc's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

99 Cents Only Stores Llc's Definitive Proxy Statement (Form DEF 14A) filed after their 2016 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (loss)
Assets Held For Sale
Assets Held For Sale (details)
Basis Of Presentation And Summary Of Significant Accounting Policies
Basis Of Presentation And Summary Of Significant Accounting Policies (policies)
Basis Of Presentation And Summary Of Significant Accounting Policies (tables)
Basis Of Presentation And Summary Of Significant Accounting Policies - General Information (details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Goodwill And Other Intangible Assets, Leases And Advertising (details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Property And Equipment And Long-lived Assets (details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Reclassification (details)
Commitments And Contingencies
Commitments And Contingencies (details)
Comprehensive Income
Comprehensive Income (details)
Comprehensive Income (tables)
Debt
Debt (details)
Debt (tables)
Derivative Financial Instruments
Derivative Financial Instruments (details)
Derivative Financial Instruments (tables)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (tables)
Fair Value Of Financial Instruments - Change In Level 3 Investments (details)
Fair Value Of Financial Instruments - Estimated Fair Value And Fair Value Adjustment (details)
Fair Value Of Financial Instruments - Fair Value Hierarchy (details)
Financial Guarantees
Financial Guarantees (tables)
Financial Guarantees - Balance Sheets (details)
Financial Guarantees - Cash Flows (details)
Financial Guarantees - Statements Of Comprehensive Income (loss) (details)
Goodwill And Other Intangibles
Goodwill And Other Intangibles (tables)
Goodwill And Other Intangibles - Finite And Indefinite Lived Intangible Assets (details)
Goodwill And Other Intangibles - Unfavorable Leases (details)
Income Taxes
Income Taxes (details)
New Authoritative Standards
New Authoritative Standards (details)
Other Accrued Expenses
Other Accrued Expenses (details)
Other Accrued Expenses (tables)
Property And Equipment, Net
Property And Equipment, Net (details)
Property And Equipment, Net (tables)
Related-party Transactions
Related-party Transactions (details)
Stock-based Compensation
Stock-based Compensation (details)
Stock-based Compensation (tables)
Ticker: NCSO
CIK: 1011290
Form Type: 10-Q Quarterly Report
Accession Number: 0001104659-16-143950
Submitted to the SEC: Fri Sep 09 2016 3:27:31 PM EST
Accepted by the SEC: Fri Sep 09 2016
Period: Friday, July 29, 2016
Industry: Retail Variety Stores

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/ncso/0001104659-16-143950.htm