99 Cents Only Stores reports 4Q loss

CITY OF COMMERCE, Calif. 99 Cents Only Stores reported a net loss for the fourth quarter of fiscal 2008 of $4.4 million, or 6 cents per diluted share, compared to a net loss of $1 million, or 1 cent per diluted share, for the fourth quarter of fiscal 2007.

Net sales for fourth quarter fiscal 2008 were $290.5 million, a 4.5% increase compared to net sales of $277.9 million for the fourth quarter of fiscal 2007. Same-store sales for the fourth quarter increased 1.5% versus the 89 day period ending Saturday, March 31, 2007, marking the company’s tenth consecutive quarter of same-store-sales growth. The increase in same-store sales is attributable to an increase in transactions.