Home / Knowledge / News / Apparel/Garments / 99¢ Only Stores Q4FY'13 sales rise 9.7%
99¢ Only Stores Q4FY'13 sales rise 9.7%
18
Jul '13
99¢ Only Stores announced its financial results for the fourth quarter and full-year fiscal 2013 ended March 30, 2013.

The Company's net sales increased $38.4 million, or 9.7%, to $434.8 million for the fourth quarter of fiscal 2013 compared to $396.4 million for the fourth quarter of fiscal 2012.  Same-store sales, calculated on a comparable 13-week period, increased 4.4%. 

The Company's pro forma Adjusted EBITDA[1] was $40.9 million in the fourth quarter of fiscal 2013, compared to $40.6 million in the fourth quarter of fiscal 2012, and the Company's pro forma Adjusted EBITDA margin was 9.4% compared to 10.2% over the same period.

The Company's net sales increased $137.0 million, or 8.9%, to $1.67 billion for the full-year of fiscal 2013 compared to $1.53 billion for fiscal 2012.  Same-store sales, calculated on a comparable 52-week period, increased 4.3%. 

The Company's pro forma Adjusted EBITDA was $162.9 million in fiscal 2013, an increase of $6.9 million, or 4.4%, compared to $156.0 million in fiscal 2012, and the Company's pro forma Adjusted EBITDA margin was 9.8% compared to 10.2% over the same period. Easter, a holiday that drives the Company's busiest selling week, occurred in calendar year 2012 on April 8 and in calendar year 2013 on March 31.

As a result, the Company's fiscal 2013 included two Easter seasons compared to one Easter season in fiscal 2012, which the Company estimates accounted for approximately 50 basis points of same-store sales for fiscal 2013 and approximately 190 basis points of same-store sales in the fourth quarter of fiscal 2013.

As of the end of the fourth quarter of fiscal 2013, the Company's cash holdings were $45.5 million and total debt was $758.3 million, consisting of net borrowings of $508.3 million under the Company's first lien term loan facility and $250 million of the Company's 11% senior notes. There were no outstanding borrowings under the Company's revolving credit facility.

During the fourth quarter of fiscal 2013, the Company opened seven stores in California.  As of March 30, 2013, the Company operated 316 stores, an increase of 6.0% in store count over last year. The gross and saleable retail square footage at the end of the fourth quarter were 6.63 million and 5.21 million, respectively.  This represents an increase of 5.4% and 5.3% for gross and saleable square footage, respectively, over last year.

For fiscal 2013, average annual sales per store for all stores open for at least 12 months, on a comparable 52-week period, were $5.3 million, compared to $5.2 million for fiscal 2012.  Fiscal 2013 average annual sales per estimated saleable square foot for all stores open for at least 12 months, on a comparable 52-week period, increased to $321, compared to fiscal 2012 average annual sales per estimated saleable square foot of $309 for all stores open for at least 12 months as of March 31, 2012.

In fiscal 2014, the Company currently intends to increase its store count by approximately 10%, all of which are expected to be opened in existing markets.

99¢ Only Stores


Must ReadView All

Robert Lighthizer speaking at the opening of the ministerial plenary of the 16th Forum of AGOA, in Lome. Courtesy: US Embassy in Togo

Textiles | On 17th Aug 2017

US committed to Africa, Lighthizer tells AGOA forum

The United States and Africa can jointly create a better business...

Textiles | On 17th Aug 2017

Sri Lankan textile exports down 4.1% in May 2017

After showing positive trend for two consecutive months, Sri Lankan...

Courtesy: CBEC

Textiles | On 17th Aug 2017

E-commerce firms need to file monthly statements: CBEC

India’s Central Board of Excise and Customs (CBEC) has clarified that ...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.0%
No
17.2%
Skip
13.8%

Total Votes: 29

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
41.4%
No
37.9%
Skip
20.7%

Total Votes: 29

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
82.8%
No
6.9%
Skip
10.3%

Total Votes: 29

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
58.6%
No
10.3%
Skip
31.0%

Total Votes: 29


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X