99 Cents Only sales and profits increase in Q3; six stores on tap
City of Commerce, Calif. — 99 Cents Only Stores reported Thursday that profit for the quarter ended Dec. 29 rose 6.5% to $51 million, compared with $47.9 million in the year-ago period.
Total sales increased 8.8% to $35.6 million, from $403.9 million last year. Same-store sales rose 4.3%.
The company said it plans to open six stores during the fourth quarter, with most slated to open in California.
Verizon Communications elects Walgreens chief Greg Wasson to board
New York — Verizon Communications on Thursday elected Greg Wasson, Walgreens president and CEO, to the Verizon board of directors, effective March 1.
"Greg Wasson brings to Verizon an in-depth knowledge of the retail and healthcare industries," said Lowell McAdam, Verizon
chairman and CEO. "He offers a unique perspective as the leader of a successful Fortune 50 company focused on innovation,
traditional and nontraditional growth, operational and technical excellence, and multichannel integration.”
Wasson will bring Verizon’s total board membership to 13.
Sally Beauty Q1 earnings double, but misses Street
Denton, Texas — Sally Beauty Holdings Inc. reported Thursday that profit in the first quarter nearly doubled year-over-year – from $30.1 million to $59 million – but results still missed Wall Street expectations.
Revenue rose 4.7% to $905.4 million, shy of analysts’ expected $915.1 million in revenue.
Same-store sales rose 2.8%.