<p>Discount retailer 99 Cents Only Stores is reporting a few 'fresh' tid bits as mid-summer gets underway. The company has reported that fresh produce, grocery and discretionary non-food categories were the primary sales drivers during the first quarter of 2014, according to recent conference call to discuss the results. 99 Cents Only Stores is also welcoming a new President and CEO to its executive ranks. Stèphane Gonthier has accepted an offer to join the company as President, Chief Executive Officer and a member of the Board. This appointment is expected to become official over the next 60 days. Gonthier most recently served as Chief Operating Officer of Dollerama Inc.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">“The growth of the 99 Cents Only Stores has been outstanding for the past several quarters and we are excited to bring on Stèphane as our President and CEO to help us capitalize on our recent accomplishments and guide the company towards long term success,” says David Kaplan, Chairman of the Board and Senior Partner of Ares Management LLC.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">99 Cents Only Stores net sales increased 8.2% from $401.0 million in the first quarter of fiscal 2013, to $433.9 million for the first quarter of fiscal 2014. Same-store sales increased 3.1%, a release notes. The company's Adjusted EBITDA decreased from $39.2 million in the first quarter of fiscal 2013 to $35.5 million in the first quarter of fiscal 2014, while 99 Cents Only's Adjusted EBITDA margin was 8.2% compared to 9.8% 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 and as a result, the company did not benefit from the Easter selling season in the first quarter of 2014. The retailer estimates that this negatively impacted same-store sales by approximately 180 basis points.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">The retailer notes that it plans to open approximately 30 new stores this year, in its existing markets, with six new stores already under its belt for the year. Eight or so openings are slated for the second quarter.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://www.99only.com" target="_new">99 Cents Only</a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">
