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99 Cents Only Stores® will celebrate the grand opening of its newest Temecula store on Thursday the 8th of September at 8am by selling a Philips® 22" Flat Screen LCD TV – a $230 value – for only 99 cents to the first nine customers in line!
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Zacks Sell List Highlights: Rofin-Sinar Technologies, Trina Solar Limited, The E.W. Scripps and 99 Cents Only Stores
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99 Cents Only Stores® Bridal Registry Announcement Garners over 999 Calls
99 Cents Only Stores® (NYSE: NDN) launched its "Bridal Registry" this week for couples who want to feel like kings and queens and save royally on their wedding day! This week's announcement about 99 Cents Only Stores® "Bridal Registry" has garnered over 999 calls to date; from couples to party planners, inquiring about the program.
(Logo: http://photos.prnewswire.com/prnh/20110214/LA47195LOGO-a)
With over 999 wedding items to choose from, 99 Cents Only Stores® is the palace of party supplies, from wedding and housewarming gifts to tableware decor ideas, proving that couples can be frugal and fabulous for their big day. Royal couples are welcome!
About 99 Cents Only Stores®
Founded in 1982, 99 Cents Only Stores® currently operates 285 extreme value retail stores consisting of 211 stores in California, 35 in Texas, 27 in Arizona, and 12 in Nevada. 99 Cents Only Stores® emphasizes quality name-brand consumables, priced at an excellent value, in convenient, attractively merchandised stores. Over half of the Company's sales come from food and beverages, including produce, dairy, deli and frozen foods, along with organic and gourmet foods. The Company's New York Stock Exchange symbol is NDN.
Media Contact: Ana Gamez, 323-881-1247 or anag@99only.com
SOURCE 99 Cents Only Stores
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99-Cent Only Stores® Announces Formation of Special Committee of Board of Directors and Retention of Advisors
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Milberg LLP Announces the Filing of a Shareholder Class Action to Stop 99 Cents Only Stores Buyout
The law firm of Milberg LLP announces that a case was filed in Superior Court of the State of California for the County of Los Angeles, challenging actions taken by the board of directors of 99 Cents Only Stores ("99 Cents Only") under state law. This case was not filed by Milberg LLP.
The action alleges that the board of directors of 99 Cents Only (NYSE: NDN) breached their fiduciary duties to shareholders by agreeing to a $1.3 billion buyout of 99 Cents Only led by members of the Schiffer-Gold family, which own 33% of all outstanding shares, and Leonard Green & Partners LP. Under the current proposal, 99 Cents Only shareholders will receive $19.09 in cash for each share of 99 Cents Only common stock they currently hold.
Shareholders are questioning the value of the going private deal because 99 Cents Only's common stock traded as high as $18.88 per share in September 2010. Additionally, at least one analyst has set a target price of $23.50 per share for 99 Cents Only stock and on February 2, 2011, 99 Cents Only reported strong third quarter 2011 results of $365.36 million, beating analysts' expectations.
Founded in 1965, Milberg has offices in New York, Los Angeles, Tampa, and Detroit. The Firm has litigated landmark cases and recovered billions for shareholders and consumers. Our website has additional information: (www.milberg.com).
You can contact the following attorney for more information:
Andrei V. Rado, Esq.
Milberg LLP
One Pennsylvania Plaza, 49th Fl.
New York, NY 10119-0165
Phone number: (800) 320-5081
Email: contactus@milberg.com
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Buyout of 99 Cents Only Stores Prompts Shareholder Claims Investigation by Goldfarb Branham Law Firm LLP
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YEAAAAAAAAAAAAAAAAAAAAAH!!!!
PR NEWSWIRE
99 Cents Only Stores(R) Announces Receipt of a 'Going Private' Proposal at $19.09 Per Share
99 Cents Only Stores(R) Announces Receipt of a 'Going Private' Proposal at $19.09
Per Share
CITY OF COMMERCE, Calif., March 11, 2011 /PRNewswire via COMTEX/ -- 99 Cents Only
Stores(R) (NDN) (the "Company") today announced that its board of directors has
received a proposal from members of the Schiffer/Gold family, together with
Leonard Green & Partners, L.P. ("LGP"), to acquire the Company in a "going
private" transaction for $19.09 per share in cash. The Schiffer/Gold family owns
approximately 33% of the Company's outstanding common stock, and the letter
states that they are prepared to contribute a substantial portion of their
existing Company stock ownership as part of the proposed transaction.
The proposal letter states that it is not a binding commitment or obligation on
the part of the Schiffer/Gold family or LGP. It also states that any transaction
would be subject to: (a) completion of due diligence, including financial, legal,
accounting and tax diligence; (b) receipt of financing commitments with respect
to the financing necessary to complete the proposed transaction; (c) negotiation
of a satisfactory acquisition agreement with customary terms and conditions; (d)
reaching agreement among members of the Schiffer/Gold family and LGP with respect
to the terms of a shareholders' agreement; and (e) reaching agreements with the
management of the Company with respect to their ongoing roles as managers of the
Company. It also states that the Schiffer/Gold family has not made any commitment
of exclusivity with LGP relating to a transaction.
The board of directors cautions the Company's shareholders and others considering
trading in its securities that it has only received the proposal and it has not
yet been evaluated. There can be no assurance that any definitive offer will be
made, that any agreement will be executed or that this or any other transaction
will be approved or consummated. The board of directors expects to form a special
committee of independent directors to consider the proposal. The committee would
retain independent financial advisors and legal counsel to assist it in its work.
About 99 Cents Only Stores(R)
Founded in 1982, 99 Cents Only Stores(R) currently operates 283 extreme value
retail stores consisting of 210 stores in California, 34 in Texas, 27 in Arizona,
and 12 in Nevada. 99 Cents Only Stores(R) emphasizes quality name-brand
consumables, priced at an excellent value, in convenient, attractively
merchandised stores. Over half of the Company's sales come from food and
beverages, including produce, dairy, deli and frozen foods, along with organic
and gourmet foods. The Company's New York Stock Exchange symbol is NDN.
Forward Looking Statements
This press release contains statements that are forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995. These
statements are based on current expectations about future events. These
statements are not guarantees of future events and involve risks, uncertainties
and assumptions that are difficult to predict. Therefore, actual events may
differ materially from what is expressed in such forward-looking statements due
to numerous factors. These include the uncertainties set forth in this press
release regarding whether an acquisition of the Company will be consummated upon
the terms proposed by the Schiffer/Gold family and LGP, or at all. Further
information and risks regarding factors that could affect our business,
operations, financial results or financial positions are discussed from time to
time in the Company's Securities and Exchange Commission filings and reports. The
shareholders of the Company and other readers are cautioned not to put undue
reliance on any forward-looking statements. The Company undertakes no obligation
to publicly update any forward-looking statements, whether as a result of new
information, future events or otherwise.
SOURCE 99 Cents Only Stores
Copyright (C) 2011 PR Newswire. All rights reserved
99 Cents Only Stores® will celebrate the grand opening of its new store located in Houston, Texas on Thursday the 17th of March at 8am by selling a Sylvania® 19" Flat Screen LCD TV – a $200 value – for only 99 cents to the first nine customers in line!
NDN just keeps chugging right along
looks like a bust economy is good for them
bet there's some mayhem with that sale
99¢ Only Stores® To Sell Philips® 22” Flat Screen LCD TVs for Only 99 Cents Each to the First 9 Customers
Nice
;)
got a notice the other day from one my subscriptions
recommending to drop/sell NDN and move on
after the stellar reviews I've previously seen
it's like they think there's better investments out there
Ha hey I'm not against it as I'm not in... I'd love to get in as low as possible...
it happened last time
could happen again
one can hope
err I don't see that happening... I'd be happy with 12
was hoping it would bottom again to say around $7
Interesting little company here... might be one to grab onto if it continues to pull back some..
I'd really like to be able to actually go in one of their stores and see for myself what kind of traffic they get and see how their product line is holding up
of course I did see a sell half recommendation the other day
Nah... not too bad. I'll be watching the 20MA.
wow.....that took a HARD slide
might be time to move on for a while
Looks ready w/ that bounce on the 200MA!!
Good luck T -- I'll keep the MOD spot for ya when you return.
well Soapy, I'm moving on
GLTA......
we'll see how ndn does through the summer......
it should have good things to report
hey Soapy
you have to admit one thing
this has been one a few companies that has done so well and held its value so well during the past 6 months compared to a lot of others
If you took the risk and bought on the lows or shorted on the highs......and you made $.....good for you
you took the risk and you earned it
but one thing I do know
I'm not here as a retailer investor to enrich day traders
and if they damage it enough......
I won't be long in it and neither will a lot of other investors until they become stable and the sp less easily damaged by small market whims
Wall St needs the consumer/retail investor to return
and we're not going to just to get fleeced out of what we still have......
I'll quit the risks with nicer possible payouts in favor of more dependable investments
and so will a lot of others......
and smaller companies can kiss their hopes of capital goodbye
but retail traders hold an even larger place.....
just like consumers in the economy......
drive them away........
and nothing but crumbs again for day traders with a lot of them losing their butts
It was the influx of retail investors in the past 8 years that helped make a big difference
plus the influence of the average worker with their 401ks
now people are losing jobs left and right
Which is WHY how NDN does thru these extreme times is going to tell us a lot about them as a company
Well, some truth to that. But daytraders keep the liquidity the market needs. They do serve a purpose; albeit in a strange way. They afford the bounces while larger entities short into the bounces. Likewise, they move the markets when Funds sell off.
So, they have their place.
well I can't afford the hit on my taxes of being labeled a day trader
maybe the answer is all retail traders leave stocks like this to day traders.......
since they're so busy making money on our backs and at our expense
then when they don't have us to ream any longer
all they'll have left is shorting until that breaks them
Yeah, taxes did suck... Won't argue that at all T.
And you're right -- NDN will (eventually) retain it's status as a slow growth stock and appeal to a wider market. But I have to admit, trading it has been quite good to me.
well taxes weren't kind to me
just finally paid mine.......
pretty disgusting
The volatility will be kind to me as well as it allows me to accumulate on the downswings
but I'm not a daytrader
and it's starting to look more and more like retail investors just don't even belong here
because there's always a daytrader looking to scalp them.....
retail traders will simply accumulate, do a little profit taking, and look for a stock Like this one to become stable and start the long climb up into heavenly profits
Agreed. But the volatility has been kind to my accounts...
and I'm still watching it ike a hawk
Frankly I'll be glad when the roller coaster ride settles down in market at large
Hehe... 2 day early from the post (link back)
I'm thinking we might see one more down turn in the SP....
I don't trust the market being stabilized just yet
and then I'm thinking we might finally bottom and then start the uphill climb here
like around May......
It's certainly been more stable than a lot of other companies
comparatively speaking
I'm saying this because I'm thinking the market in general is going to finally start smoothing out
in any event....on any of the lows, it's proven that they were all really good entry points down around $7+
recovery was good....
then it got banged up a little more.....
but recovered each time
I'm just thinking we're going to see the bears run amok at least one last time
and all the shorting that's been crippling companies is going to chill
especially if the uptick rule is put back in place
then after that.....
which should have settled quite a bit by May
we should finally see some smooth sailing
and the shorts will have to cover finally
so I'm actually hoping it does so I can enjoy the entry point a few others have found...
if not and it settles down anyways.....
that's still all good......because it should still climb smooth slow and steady
and I know folks that entered this around $12
and by this time next year.....should be a nice piece in one's portfolio
well you might flip it....good luck with that
I made a different move which may not have been as good or it might work out
but I'm still holding off a while here
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Basic Information
99¢ Only Stores sells various consumable products through its retail stores at price points of 99¢ or less in the United States. Its stores offer consumable goods and closeout merchandise. The company also sells merchandise through its Bargain Wholesale division to retailers, distributors, and exporters. In addition, 99¢ Only Stores provides private label consumer products; and imports merchandise in product categories, such as kitchen items, house-wares, toys, seasonal products, pet-care, and hardware. As of August 07, 2008, it operated 275 retail stores comprising 192 in California, 48 in Texas, 24 in Arizona, and 11 in Nevada. The company was founded in 1965 and is based in the City of Commerce, California.
99¢ Only Stores is an extreme value retailer of primarily name-brand consumable general merchandise. We are "The Right Store...Now More Than Ever! From our first store opening in 1982, our chain of 99¢ Only Stores has expanded to over 277 stores; 193 in California (70%), 48 in Texas (17%), 24 in Arizona (9%), and 12 in Nevada (4%). For fiscal 2008, the stores that were open for a full year averaged 21,722 square feet and generated average net sales per estimated sellable square foot of $263 and average net sales per store of $4.5 million. For fiscal 2008, total sales were $1.2 billion. Our stores are attractively merchandised, clean, full service "destination" locations that offer customers significant value on their everyday household needs in an exciting shopping environment. Merchandise encompasses a wide array of name-brand closeout and regularly available consumable products including food and beverages such as: produce, deli, and other basic grocery items, health and beauty care, and household supplies.
We have always been committed to delivering great value to our customers, but now more than ever, our customers are relying on us to help them make ends meet as they struggle with increasing costs of daily necessities.
Share Structure and Chart
Common Stock, No Par Value, 70,060,491 Shares as of August 4, 2008
Reference: 10Q
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