99 Cents Only Q4 net sales increase nearly 10%

CITY OF COMMERCE, Calif. — 99 Cents Only Stores announced its financial results for the fourth quarter and full-year fiscal 2013 ended March 30, 2013.

The company's net sales increased 9.7% to $434.8 million for the fourth quarter of fiscal 2013 compared to $396.4 million for the fourth quarter of fiscal 2012. Same-store sales, calculated on a comparable 13-week period, increased 4.4%.

For the full-year of fiscal 2013, the company's net sales increased 8.9% to $1.67 billion compared to $1.53 billion for fiscal 2012. Same-store sales, calculated on a comparable 52-week period, increased 4.3%.

During the fourth quarter of fiscal 2013, the company opened seven stores in California. As of March 30, the company operated 316 stores, an increase of 6% in store count over last year.

For fiscal 2013, average annual sales per store for all stores open for at least 12 months, on a comparable 52-week period, were $5.3 million, compared to $5.2 million for fiscal 2012.

In fiscal 2014, the company currently intends to increase its store count by approximately 10%, all of which are expected to be opened in existing markets.