NDN 3Q comps down slightly

CITY OF COMMERCE, Calif. -- Ninety-nine Cents Only Stores reported that retail sales for the third quarter ended Dec. 25 increased by 1.5% to $354.1 million and same-store sales decreased 0.7%.

Consolidated net income increased by $2.1 million to $26.6 million, or 38 cents per diluted share, versus $24.5 million in the prior year, or 35 cents per diluted share

Eric Schiffer, CEO of Ninety-Nine Cents, stated, “We are pleased with our earnings for the third quarter of fiscal 2011. We have far exceeded all of the goals in our four-year profit improvement plan announced in February 2008. "

As previously announced, net consolidated sales for the third quarter of fiscal 2011 were $365.4 million, a 1.7% increase compared with net sales of $359.1 million for the third quarter of fiscal 2010.