99 Cents Only Stores Llc (NCSO) SEC Filing 10-Q Quarterly report for the period ending Friday, October 28, 2016

Exhibit 99.1

99 CENTS ONLY STORES REPORTS THIRD QUARTER FISCAL 2017 RESULTS

Third Quarter Fiscal 2017 Overview:

·                  Net sales increased 1.8% to $500.1 million compared to the prior year

·                  Same-store sales increased by 0.8%

·                  Gross margin, as a percentage of net sales, increased to 29.0%, up from 26.8% in the prior year

·                  Net loss was $37.0 million compared to net loss of $152.6 million in the prior year

·                  Adjusted EBITDA(1) was $8.6 million compared to $5.1 million in the prior year

CITY OF COMMERCE, California — December 9, 2016 — 99 Cents Only Stores LLC

Geoffrey Covert, President and Chief Executive Officer, stated, “The third quarter was a productive period for 99 Cents Only Stores, highlighted by continued sales momentum, improved margins and strong year-over-year growth in Adjusted EBITDA. Net sales for the third quarter were $500.1 million, up 1.8% over the prior year period, with sales up 0.8% on a same-store basis. Importantly, Adjusted EBITDA of $8.6 million was up 68% compared to the prior year, representing our first quarter of year-over-year growth in Adjusted EBITDA since fiscal 2015. Underlying these improved results is a solid liquidity position that we believe will meet our current requirements and future growth objectives.”

Mr. Covert continued, “Our performance provides strong evidence that our turnaround initiatives are on the right track, and our talented and capable management team continues to execute our strategy and drive value for our stakeholders.”

Third Quarter Financial Results

For the third quarter of fiscal 2017, the Company’s net sales increased 1.8%, to $500.1 million, compared to $491.5 million in the third quarter of fiscal 2016. Same-store sales increased 0.8% compared to the third quarter of fiscal 2016, with higher average ticket of 1.1% offset by lower customer traffic of 0.3%. The increase in same-store sales was primarily due to higher sales from fresh offerings, as a result of improved product availability and higher in-stock levels due to improvements in the allocation and replenishment system and the expansion of the Company’s partnership with third party produce distributors. In addition, seasonal sales increased as a result of an enhanced assortment of merchandise and a uniform merchandising strategy.