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Consumer confidence up
New York City -- Consumer confidence rose more than forecast in January, reaching its highest level in eight months amid signs of an improving labor market.
The Thomson Reuters/University of Michigan preliminary index of consumer sentiment increased to 74 from 69.9 at the end of December. The median estimate in a Bloomberg News survey called for 71.5. The measure has increased 9.9 points in the last two months, the biggest such gain since April-May 2009.
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99 Cents Only Q3 sales up 11%
Commerce, Calif. -- 99 Cents Only Stores reported Wednesday that total third-quarter revenue rose to $403.9 million, from $365.4 million.
Sales at its namesake stores grew to $393.3 million from $354.1 million a year ago, just missing Wall Street’s expected $393.6 million in revenue.
For the quarter, same-store sales rose 8.5% on higher traffic and per-visit tickets.