99 Cents Only Posts Strong Sales Gain

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Discount retailer 99 Cents Only Stores said late Wednesday that same-store sales jumped 2.9 percent for its fiscal third quarter.


For the three months ended Dec. 31, the company said it had sales of $325 million, up 7.6 percent from the $302 million it brought in during the same period a year earlier.


The company said it opened six stores three in California and three in Texas during the quarter. The company opened 17 new stores by the end of the calendar year to give it 262 stores across the country.


The retailer plans to release its fiscal third-quarter results after the market closes on Feb. 11.


Shares of 99 Cents Only rose 7.9 percent to $6.99 in afternoon trading Thursday on the New York Stock Exchange.

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