99 Cents Only Stores said late Wednesday that its sales rose nearly 5 percent during the fourth quarter, sending shares up more than 5 percent early Thursday.

The City of Commerce-based discount retailer said its sales for the quarter ended March 29 jumped 4.7 percent to $291 million which was short of Wall Street’s expectations of $295 million, according to a poll by Thomson Financial.

Same-store sales grew 1.5 percent, thanks in part to increases in customer traffic and the number of transactions due to the Easter holiday season, which came early this year and was included in the quarter’s results.

Although its sales grew in the quarter, 99 Cents Only said the results were lower than expected, due to soft Easter sales and an inability to carry key items because of vendor price increases.

For the year, sales rose nearly 9 percent to $1.2 billion, the company said.

Shares in 99 Cents Only were up 5.3 percent to $9.63 in early trading Thursday.