99 Cents Only Stores Q4 Sales Rise, Net Loss Shrinks

Fourth quarter net sales at 99 Cents Only Stores increased as a rise in store traffic and average ticket were key factors in keeping sales in the black.

For the fourth quarter of fiscal 2015 the company’s net sales increased $6.9 million to $512.6 million, compared to $505.7 million in the fourth quarter of fiscal 2014. On a comparable 13-week basis, net sales increased 8.1% during the fourth quarter. 

Same-store sales performance was driven by a significant increase in seasonal sales resulting from a wider selection of product offerings.

Net loss was $2.3 million in the fourth quarter of fiscal 2015, compared to net loss of $14.7 million for the fourth quarter of fiscal 2014. Net loss decreased in the fourth quarter of fiscal 2015 as compared to prior year, primarily due to a previously disclosed workers’ compensation charge in the fourth quarter of fiscal 2014.  

For the full-year fiscal 2015, the company’s net sales increased $87.3 million, to $1,926.9 million, compared to $1,839.6 million in fiscal 2014. On a comparable 52-week basis, net sales increased 6.3% during fiscal 2015.

Net income was $5.5 million for fiscal 2015, compared to net loss of $10.9 million in fiscal 2014. 

During the fourth quarter of fiscal 2015, the company opened 21 net new stores. As of the end of the fourth quarter of fiscal 2015, the company operated 383 stores, an increase of 11.7% in store count over the end of fiscal 2014.