Discounter stocks advance, Rose's Stores big winner - Financewatch

Discount Store News, Sept 23, 1991

Discounter Stocks Advance, Rose's Stores Big Winner

NEW YORK - The DSN Discount Store Index rose 5.14% in the three-week period ended September 9. In percentage terms, the gain outpaced advances in the other major stock indexes: Dow Jones, up 3.77%; S&P 500, up 3.21%; N.Y.S.E. Composite, up 3.05%; and Value Line Index, up 3.07%.

Advances outnumbered declines, 41 surprising, was Newmark & Lewis, which was down 62.5%. Newmark & Lewis, the New York-based consumer electronics retailer, filed for Chapter 11 protection from creditors earlier this month. The chain is now trading at under $1 per share (38 cents), a 52-week low, and the lowest closing price among all 64 stocks listed on the DSN Chain Stock Analysis Table. [Tabular Data Omitted]

The largest dollar loser of the three-week period was Deb Shops, the apparel chain, which was off by $3.25.

The big winner, in percentage terms, was a chain that has had its difficulties this year. Rose's Stores' class B stock, up 91.09% to $6,69 per share. Rose's class A stock also climbed significantly, to $6.88 per share, a 89.6% gain. Apparently, recent management changes, including the appointment of former Target executive George Jones as president, have been popular with investors.

In contrast, the largest dollar price gainer has been a solid performer all year. 50-Off Stores, the off-price apparel retailer, was up $7.63 per share to $32.38 per share.

Value Merchants, a toy and closeout chain, was up $7.50 to $32.75 per share.

PHOTO : Discount Store Index vs. Dow Jones Average