CITY OF COMMERCE, Calif. (AFX) - 99 Cents Only Stores said Thursday that same-store sales increased 3.6 percent during its first quarter ended June 30.
The figure compares sales at stores open at least a year. Total sales for the first quarter increased 7.7 percent to $263.6 million, while retail sales grew 8.3 percent to $254 million, compared with the same quarter last year.
The retailer said it opened five stores in California during the quarter and operates 237 stores in total. Much of the boost for the quarter came from increased sales in the company's Texas stores.
The company recently filed a statement with the Securities and Exchange Commission, notifying the agency it would be late with its 10-K because of a delay in completing financial statements. The report is now expected to be filed by July 31.
Shares of the company's stock rose 9 cents to close at $10.65 on the New York Stock Exchange.
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