Deutsche Bank Maintains Buy Rating on 99 Cents Only Stores

Deutsche Bank is out with its report on 99 Cents Only Stores NDN maintaining its Buy rating. In a note to clients, Deutsche Bank writes, "We recently checked in with about 100 99 Cents Only Stores, attempting to gauge acceptance of the new store level ordering systems. Recall that implementation of these new systems in August and September contributed to weak 2Q11 (Sept 2010) quarter comps due to some disruptions during the installation and training process. In this very informal survey, of the roughly 45 stores in which we received a response, most store personnel characterized the systems as helpful and believed they would help future in-stocks." NDN closed yesterday at $16.12.