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99 Cents Only Stores (NDN) not cutting it on Wall Street

posted 515 weeks ago on The StockMasters - Investing News and Analysis, Hot Stock Tips, Stock Marke

99 Cents Only Stores (Public, NYSE:NDN) shares fell to a new low today and finished the day at $8.80.  Last week they posted a Q2 loss of $5.2 million or 7 cents per share. Despite the 11% increase of revenue, Wall Street only wants to pay $.99 a share. Perhaps the most startling news to come from the conference call was the comments on 'inventory shrink' hurting their gross margin. Inventory shrink is a decline in inventory due to accounting errors, employee theft or shoplifting.  Not a good sign that your stores are a safe place to shop at or convincing shareholders that you are running a stable company.  You would think as a retailer that trades on the NYSE you would have a handle on 'inventory shrink'?  Message to the board at NDN is they have got to clean

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