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CITY OF COMMERCE, Calif. --99 Cents Only Stores reported total sales of $196.4 million for the first quarter ended March 31, 2003, representing an increase of $33.3 million or 20.4 percent over sales of $163.1 million during the first quarter of 2002.
Retail sales for 99 Cents Only Stores were $184.7 million, up $35.1 million or 23.4 percent from sales of $149.6 million in 2002. The full quarter effect of 2002 new store additions accounted for the majority of this increase.
The company said its same-store-sales increased 4.3 percent during the first quarter of 2003, attributable to an increase in the number of transactions. During the first quarter of 2003, 99 Cents Only Stores opened three stores, all in California.