Posted on Tuesday, June 8th, 2010 at 3:40 pm.
The 99c Only Store has released its 2010 fourth quarter fiscal report that ended March 27, 2010.
Highlights that were noted in the report were retail sales for consolidated operations, including Texas, increased by 3 percent. Also, product cost decreased by 20 basis points and consolidated gross margin increased 189 basis points. The consolidated net income increased from $9.9 million to $16.9 million. The operating income in Texas improved to $0.9 million from a $4.3 million loss last year.
The CEO of the company said that everyone is pleased with the fourth quarter financial reports and that the initiatives that the company put in place to improve long-term operation have exceeded expectations.
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