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99 Cents Only steps up expansion.(Brief Article)
CITY OF COMMERCE, CALIF. -- A slumping stock market and concerns about a weakening economy have taken their toll on the retailing industry, but you wouldn't know by looking at fast-growing 99 Cents Only Stores.
The 104-store chain based in City of Commerce, Calif., posted sales of $125 million for its first quarter ended March 31, an increase of 26% over the same period last year, and a 2.9% increase in same store sales. The chain also added seven new stores during the quarter and plans to open 18 more during the next nine months.
"We're pleased to announce continued strong sales in the first quarter of 2001," said president Eric Schiffer. "We're well on our …
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