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99 Cents Only has big store plans, 2Q comps up 6.7%
CITY OF COMMERCE, Calif. — A strong earnings and sales performance during its fiscal second quarter gave 99 Cents Only Stores the confidence to raise its full year guidance and become more aggressive with store growth. The company reported that total retail sales increased 9% to $352.2 million and same-store sales increased 6.7% for the second quarter. Consolidated net income increased by $2.2 million to $15.1 million or 21 cents per diluted share, versus $12.9 million in the prior year, or 18 cents per diluted share
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Nordstrom Q3 profits climb 6.7%
Seattle -- Nordstrom Inc. reported Thursday that profit for the quarter ended Oct. 29 rose 6.7% to $127 million, compared with $119 million in the year-ago period.
Net sales rose 14.2% to $2.4 billion, surpassing Wall Street’s expected $2.35 billion and up from $2.1 billion a year earlier. Same-store sales climbed 7.9%.
The company opened two full-line department stores – in Nashville and St. Louis -- and nine Nordstrom Rack stores during the quarter.