99 Cents Only Stores Announces Stock Repurchase Program of up to 3,000,000 Shares.Business Editors CITY OF COMMERCE, Calif.--(BUSINESS WIRE)--May 14, 2004 99 Cents Only Stores(R) (NYSE NYSE See: New York Stock Exchange :NDN NDN Indian NDN Naples Daily News (Daily news paper in Naples Florida) NDN Non Delivery Notification NDN National Data Network NDN Necdin NDN New Democratic Network NDN Next Door Neighbor NDN Nevada Donor Network ) today announced its board of directors has authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: the repurchase re·pur·chase tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es To buy (something) again. n. The act of buying something that one previously sold or owned. Noun 1. of up to 3 million shares of the Company's common stock. The shares may be purchased from time to time in open market transactions or privately negotiated transactions over a period ending on May 31, 2005. The timing and amount of any shares repurchased will be determined by the Company, based on its evaluation of market conditions and other factors. The Company plans to use existing cash to fund the repurchases. 99 Cents Only Stores currently has 72,086,787 shares of common stock outstanding. 99 Cents Only Stores(R), the nation's oldest existing one-price retailer, operates 201 retail stores, in California, Nevada, Arizona and Texas including a wholesale division called Bargain Wholesale. 99 Cents Only Stores(R) emphasizes name-brand consumables, priced at an excellent value, in attractively merchandised stores. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , as referenced in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 (the "Act"). Forward-looking statements are inherently unreliable and actual results may differ. Factors which could cause actual results to differ materially from these forward-looking statements include, changes in the competitive market place, 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 fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. 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. Note to Editors: 99 Cents Only Stores(R) news releases and information available on the World Wide Web at http://www.businesswire.com/cnn/ndn.htm. |
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