99 Cents Only Stores sales increase 8.8% in Q3

CITY OF COMMERCE, Calif. — Net sales at 99 Cents Only Stores increased 8.8% in third quarter 2013, the company said.

The dollar-store chain announced sales of $439.5 million, a $35.6 million increase over third quarter 2012, while comps increased 4.3%. For the first three quarters of fiscal year 2013, sales were $1.23 billion, an 8.7% increase over the same period last year, while comps increased 4.3%. Profit for the quarter was $12.7 million, compared with $22.2 million at the end of third quarter 2012.

The company opened seven new stores during the quarter, including four in California, one in Nevada and two in Texas, while closing one store in California following the expiration of a lease. In total, the company operated 309 stores, a 5.8% increase in store count over the year before.