99 Cents Only Swings to Q1 Profit

99 Cents Only Stores yesterday said it posted a profit of $9.5 million for the first fiscal quarter, vs. a loss of $1.5 million in the year-ago period.

COMMERCE CITY, Calif. — 99 Cents Only Stores, based here, yesterday said it posted a profit of $9.5 million for the first fiscal quarter, vs. a loss of $1.5 million in the year-ago period. Sales were up 8.9%, to $332.1 million, and same-store sales rose 7.2%.

"We believe that our long-term operational improvement initiatives recently gained significant traction," said Eric Eric Schiffer, chief executive officer. "We have achieved greater gains in profitability than we expected

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