-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, JwUJIguPZobNbRUv41UhHjPmfxvb5wGVw0L/ZbqYQTT5sBoroqycW4pYE42J7yiG 3ZZb+ZnJGvuezBRH/uQdoA== 0001011438-98-000369.txt : 19981028 0001011438-98-000369.hdr.sgml : 19981028 ACCESSION NUMBER: 0001011438-98-000369 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 19981006 ITEM INFORMATION: FILED AS OF DATE: 19981027 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: 99 CENTS ONLY STORE CENTRAL INDEX KEY: 0001011290 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-VARIETY STORES [5331] IRS NUMBER: 952411605 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-11735 FILM NUMBER: 98731578 BUSINESS ADDRESS: STREET 1: 4000 EAST UNION PACIFIC AVE CITY: CITY OF COMMERCE STATE: CA ZIP: 90023 BUSINESS PHONE: 2139808145 MAIL ADDRESS: STREET 1: 4000 EAST UNION PACIFIC AVENUE CITY: CITY OF COMMERCE STATE: CA ZIP: 90023 8-K 1 PRESS RELEASES DATED 10/6/98 AND 10/26/98 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ----------------- Form 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): October 6, 1998 99 CENTS ONLY STORES (Exact Name of Registrant as Specified in Charter) California 1-11735 95-2411605 (State or Other Jurisdiction (Commission (IRS Employer of Incorporation) File Number) Identification No.) 4000 East Union Pacific Avenue City of Commerce, California 90023 (Address of Principal Executive Offices) (213) 980-8145 (Registrant's Telephone Number) 1 ITEM 5. OTHER EVENTS Reference is made to the press releases of Registrant, issued on October 6, 1998 and October 26, 1998, which contain information meeting the requirements of this Item 5, and which are incorporated herein by this reference. Copies of these press releases are attached to this Form 8-K as Exhibits 99.1 and 99.2. 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. October 26, 1998 99 CENTS ONLY STORES By: /s/ Andy Farina ------------------------------------- Andy Farina Chief Financial Officer 3 EXHIBIT INDEX Exhibits Page Number 99.1 Press Release dated October 6, 1998. 99.2 Press Release dated October 26, 1998. 4 EX-99.1 2 PRESS RELEASE Exhibit 99.1 99 CENTS ONLY STORES REPORTS RECORD QUARTERLY SALES OF $78.0 MILLION FOR THE THIRD QUARTER ENDED SEPT. 30, 1998, A 32.2 PERCENT INCREASE RECORD SALES OF $212.6 MILLION FOR THE FIRST NINE MONTHS, AN INCREASE OF 30.0 PERCENT OVER LAST YEAR. CITY OF COMMERCE, Calif.--(BUSINESS WIRE)--Oct. 6, 1998-- 99 Cents Only Stores (NYSE:NDN - news) reported record sales of $78.0 million for the third quarter and record sales of $212.6 million for the nine months ended Sept. 30, 1998. This represents an increase of $19.0 million or 32.2 percent over sales of $59.0 million during the third quarter of 1997 and an increase of $49.1 million, or 30.0 percent, for the first nine months of 1998. Retail sales for the third quarter ended Sept. 30, 1998, included $59.1 million of 99 Cents Only Stores' sales, an increase of 25.9 percent over the third quarter 1997. Total retail sales for the third quarter were $61.6 million, including $2.5 million of retail sales of Universal International Inc., from the date of the closing of the acquisition, Sept. 17, 1998, through Sept. 30, 1998. 99 Cents Only Stores' sales for the nine-month period ended Sept. 30, 1998, excluding the $2.5 million of Universal retail sales, were $167.3 million, an increase of 30.0 percent, over 1997. New stores opened in 1998 and the full period effect of stores added in 1997 accounted for the majority of this increase. Comparable same store sales for the third quarter for 99 Cents Only Stores increased 4.2 percent. Comparable same store sales are calculated for stores that have been open for more than 15 months. Comparable same store sales, adjusted to give effect for new store openings within a three-mile radius of existing stores, increased 6.9 percent in the third quarter. Wholesale sales for the third quarter and the nine-month period ended Sept. 30, 1998, were $16.4 million and $42.8 million, compared with $12.0 million and $34.8 million in 1997. Included in the wholesale sales were $7.0 million of wholesale sales to Universal in the third quarter and $12.0 million for the nine-month period ended Sept. 30, 1998. These wholesale sales to Universal were billed at cost. 99 Cents Only Stores opened three stores during the third quarter of 1998 and a total of nine stores, including two relocations during the nine months ended Sept. 30, 1998. Currently the company has four secured locations including one San Diego-county location. David Gold, president of the company said: "We are pleased to announce continued record net sales for the third quarter of 1998 and for the first nine months of 1998. We look forward to opening four more stores this year, including our first 5 stores in San Diego County and Riverside County, Calif." 99 Cents Only Stores, the nation's oldest existing one-price retailer, operates 60 99 Cents Only Stores located in Southern California. It also operates 73 Only Deals and Odd's-N-End's stores located in the Upper Midwest, New York and Texas, through its Universal subsidiary. 99 Cents Only Stores emphasizes name-brand consumables at an excellent value, in clean, attractively merchandised stores. This news release contains forward-looking statements, as referenced in the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements are inherently unreliable and actual results may differ. Factors that could cause actual results to differ materially from these forward-looking statements include changes in the competitive marketplace, general economic conditions, factors affecting the retail industry in general, the timing of new store openings, the ability of the company to acquire inventory at favorable costs and other factors discussed in the company's filings with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. 6 EX-99.2 3 PRESS RELEASE Exhibit 99.2 99 CENTS ONLY STORES HAS DECLARED A 5-FOR-4 STOCK SPLIT, IN THE FORM OF A STOCK DIVIDEND, PAYABLE NOVEMBER 12, 1998 TO SHAREHOLDERS OF RECORD NOVEMBER 5, 1998 CITY OF COMMERCE, Calif.--(BUSINESS WIRE)--Oct. 26, 1998--99 Cents Only Stores (NYSE:NDN - news) announced today that its board of directors declared a five-for-four stock split on its common stock, in the form of a stock dividend, payable on November 12, 1998 to shareholders of record on November 5, 1998. Prior to this dividend the Company had 19,773,074 shares of no par common stock outstanding. The five-for-four stock split increases the number of shares currently outstanding to approximately 24,716,342. If shareholders are contemplating a sale they should consult their broker as to the effect of the split shares and the resulting price. Fractional shares will be paid based on the closing price on the shareholder of record date adjusted for the effect of the split. We are pleased to announce this stock dividend as part of our continuing efforts to broaden our stock's marketability and liquidity. 99 Cents Only Stores, the nation's oldest existing one-price retailer, operates 61 retail stores all in Southern California, a wholesale division called Bargain Wholesale. The Company has opened ten stores in the first ten months of this year, including two relocations and the Company's first store in Riverside County, which opens tomorrow. Through its Universal International, Inc. subsidiary, it operates 74 Only Deals and Odd's-N-End's multi-price discount stores located in the upper Midwest, New York and Texas. 99 Cents Only Stores emphasizes name-brand consumables, priced at an excellent value, in attractively merchandised clean stores. 7 -----END PRIVACY-ENHANCED MESSAGE-----