Follow LA Observed on Twitter here
The folks at 99 Cents Only Stores were pretty cute on Monday with their price increase of 0.99 cents, but not everyone is signing on. “We were expecting more and are disappointed,” wrote analysts at Deutsche Bank. Others are more charitable (FTN Midwest Securities called the move "well played"). The stock fell 29 cents, although keep in mind that the overall market was down. Of course all the tiny price hike does is put off the inevitable day when they'll have to cross the 99.99 cents mark. "When it increases to $1.02 for all products, it’s not going to be all that exciting," posts David Gaffen at MarketBeat.
More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAXSocal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent stories:
Letter from Down Under: Welcome to the HomogenoceneOne last Florida photo
Signs of Saturday: No refund
'I Am Woman,' hear them roar
Bobcat crossing
New at LA Observed
On the Politics Page
Go to Politics
Sign up for daily email from LA Observed
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.