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Q2 results make 99 Cents Only an attractive buy
COMMERCE, Calif. — The investment group that agreed to buy 99 Cents Only Stores for $1.6 billion must be pleased with the discounter's second-quarter results.
99 Cents Only Stores reported total sales of $363 million for the second quarter, an increase of 8.8% over total sales of $333.6 million for the same quarter last year. Same-store sales for the quarter were up 6.7%. The number of same-store-sales transactions increased 4.7% and the average transaction size increased to $9.62 from $9.44, the company reported.