99 Cents Only Store North Hollywood, California. Photo by Downtowngal (Own work) [CC BY-SA 3.0 or GFDL], via Wikimedia Commons.
99 Cents Only Store North Hollywood, California. Photo by Downtowngal (Own work) [CC BY-SA 3.0 or GFDL], via Wikimedia Commons.

99 Cents Only Stores LLC reported decreased losses in the fourth quarter of its fiscal 2015 and profits for the year as a whole.

Net fourth-quarter loss was $2.3 million, compared to net loss of $14.7 million in the fourth quarter of fiscal 2014, the company said in an earnings statement issued from its headquarters in Commerce.

Net income for fiscal 2015 was $5.5 million, compared to net loss of $10.9 million in fiscal 2014, the statement said.

“We are pleased with the progress that we have made during what was a transformative year, as we executed on key elements of our long-term strategic plan,” said company President and CEO Stephane Gonthier. “We opened a record 40 net new stores during the year and completed a major store remodeling program under our “Go Taller” initiative …”

— City News Service

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