99 Cents Stores (NDN) Raise Margins
Maura Lockwood, Cabot Headline News
March 02, 2010
99
Cents Only Stores (NDN) roughly doubled net income and earnings per
share in fiscal Q3, well ahead of its own timetable, Investor’s
Business Daily reported.
The
discount retailer’s net income came in at $24.5 million, up from $12.5
million the year before. EPS were 35 cents, up from 18 cents. For the
four quarters ended December 26, the chain achieved a 5.9% EBT, topping
its 2012 targets well in advance, according to IBD.
Re-pricing
was one of several initiatives the company implemented to squeeze more
profit out of revenue gains. The company increased prices from 99 cents
to 99.99 cents, bringing an extra penny to the bottom line without
undermining the chain’s name and concept, IBD reported.
99
Cents also improved operations and efficiency in such areas as
transportation, distribution, inventory management and use of labor.
The company is also working to lower rents and buying property at
discounted prices.
99 Cents Only Stores (NDN) is a Cabot Top Ten Report stock. ---
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