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99 Cents Posts Strong Q2 – Analyst Blog

Zacks Market Commentaries (November 5th, 2009) Writes:
99 Cents Only Stores Inc. (NDN) reported fiscal second quarter results after the closing bell on Wednesday. The company recorded a net income of $9.6 million, compared to a net loss of $9.4 million in the year-ago period. Earnings per share came in at 14 cents, topping the Zacks Consensus Estimate by 7 cents. The company had reported a loss of 13 cents per share in the same period last year.   The deep-discount store operator’s sales posted a growth of 2.2% year over year to $324.7 million, as customers affected by continuing macroeconomic headwinds preferred to shop more in its stores. The City of Commerce, CA-based retailer’s same-store sales grew by 2.3% over the same period.   Non-Texas Operations   99 Cents revenues from non-Texas operations grew 4.0% year over year to $296.4 million driven by same-store sales growth of nearly 1% coupled with the effect of ...

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