Everyone is looking for a bargain
Consumers want low consumer prices and fresh produce, and 99 Cents Only Stores has them both.
Lately the company has been able to increase prices, lower inventory shrinkage (shoplifting) and get a handle on SG&A expenses. It tries to lead the market in having lower fresh-produce prices than the nearby general grocery stores. Low prices and fresh produce seem to be a winning combination.
Last month the stock price appreciated 14.81% and on its way up hit 11 new highs in the past 20 trading session. Barchart rates it an 80% short term technical buy and Barchart's Trend Spotter (tm) also signals a buy. The stock trades around 16.16 with a 50 day moving average of 14.74.
Investors are starting to notice NDN and on Motley Fool vote that the stock will beat the market with a vote of 173 to 50 with the more experienced All Stars in agreement 52 to 12. Of the Wall Street columnists Fool monitors articles have been favorable 5 to 1.
99 Cent Only Stores might be a nice addition to your portfolio if you like:
- Recent price appreciation of 14.81% last month
- 80% Barchart short term technical buy signal
- Wall Street analysts estimating increases in sales and double digit EPS growth
- Solid investor sentiment that the stock will beat the market
Disclosure: No positions in the stock mentioned at the time of publication
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The solid report comes a month after the retailer closed all of its Canadian operations.
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