99 Cents Only reports 2Q comps growth

CITY OF COMMERCE, Calif. 99 Cents Only Stores today reported total sales of $290.9 million for the second quarter ended Sept. 30, an increase of 11.4% over total sales of $261.1 million for the same quarter last year. Same-store-sales for the second quarter increased 6.1% versus the same quarter last year.

The company reported that total sales for the six months ended Sept. 30 were $583.9 million, up 11.3% over sales of $524.7 million for the six months ended Sept. 30, 2006. Same-store-sales for the six months ended Sept. 30 were up 5.6% compared to the same period in the prior year.

Eric Schiffer, ceo of the company, said, "We are pleased to continue our positive trend in same-store-sales for the eighth quarter in a row with a 6.1% increase in the second quarter of fiscal 2008. Overall, the same-store-sales average transaction size increased somewhat while the number of transactions increased significantly. We believe this indicates that we have increased the frequency of our customers' visits and brought new customers into the stores."