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Article: 99 Cents Posts Strong Q2 - Analyst Blog
- Article from:
- Zacks Investment Research - Analyst Blog
- Article date:
- November 5, 2009
- Author:
CopyrightCopyright 2009 Zacks Investment Research. (Hide copyright information)
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99 Cents Posts Strong Q2 - Analyst Blog
99 Cents Only Stores Inc.
(
NDN
) reported fiscal second quarter results after the closing bell on Wednesday. The company recorded a net income of $9.6 million, compared to a net loss of $9.4 million in the year-ago period. Earnings per share came in at 14 cents, topping the Zacks Consensus Estimate by 7 cents. The company had reported a loss of 13 cents per share in the same period last year.
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The deep-discount store operator’s sales posted a growth of 2.2% year over year to $324.7 million, as customers affected by continuing macroeconomic headwinds preferred to shop more in its stores. The City of Commerce, CA-based ...