July 10, 1996
99 Cents Only Stores said it plans to open a 26,000-square-foot store, its largest, in Anaheim on July 25, and an additional four to five stores during the remainder of the year.
CALIFORNIA | LOCAL
June 18, 2000 |
Two discount retailers are waging war in the high desert. But the fight isn't about market share; it's about real estate. Costco wants to expand its 126,000-square-foot warehouse store in the Valley Central Shopping Center, and has asked Lancaster city officials to force the 99 Cents Only store out of its 18,878-square-foot building next door. Fearing the loss of Costco, city officials say they are considering using their power of eminent domain to do just that.
January 24, 1992 |
It was meant to be a joke. But the recession got the last laugh when more than 500 callers responded to an ad for a new bridal registry service offered by the 99 Cents Only Stores. Brides and their gift-hunting pals were invited to inquire about the registry's debut with a quick call to (213) LUCKY-99.
CALIFORNIA | LOCAL
July 25, 2000 |
The 99 Cents Only chain filed suit in U.S. District Court on Monday to block this city from ousting one of its retail stores from leased space to make way for the expansion of a rival Costco store. The suit claims the Lancaster Redevelopment Agency violated federal law by voting June 27 to spend $3.8 million to acquire the 18,878-square-foot building that the 99 Cents chain leases at the Valley Central Shopping Center without due process or a proper public purpose.
October 20, 2000 |
Shares of 99 Cents Only Stores Inc. plunged 39% on Thursday after the deep-discount retailer reported weak third-quarter earnings that missed Wall Street expectations. The Commerce-based company said earnings from continuing operations were hurt by the accounting treatment for certain costs associated with discontinued operations, lower gross margin percentages and higher labor costs. The company's stock plunged $14.44 to close at $22.25 on the New York Stock Exchange.
July 21, 2004 |
99 Cents Only Stores said Tuesday that its second-quarter profit tumbled from a year ago, causing it to reconsider expansion plans. 99 Cents Only, where everything sells for under a buck, reported net income of $2.6 million, or 4 cents a share, for the quarter, compared with $14.8 million, or 21 cents a share, in the same quarter last year. The per-share earnings were a penny below analysts' expectations. Second-quarter sales were $226.9 million, up 16.
March 29, 2004 |
Struggling with weak sales last December, 99 Cents Only Stores offered an explanation: no eggs or butter. The retailer had to temporarily stop carrying the two staples when wholesale prices jumped. Tagging either at more than a penny less than a buck was out of the question. The company hasn't done that with any item since 1982, "when we opened our first store," said President Eric Schiffer.
February 12, 2006 |
In this town, where people live and die by who's hot and who's not, the tabloids and blogs aren't the only arbiters. Spotted recently on the shelves of a 99 Cents Only Stores location in L.A.: Celine Dion mouse pad * Britney Spears three-ring binder portfolios * "Phone Booth," starring Colin Farrell * Ben Stiller's "Alex the Lion" Pez dispenser * "American Idol" men's deodorant body spray * Mary-Kate and Ashley deep-cleansing shampoo
January 4, 2003 |
Extreme-value retailing is the fastest-growing retail trend in the country. And Dave Gold is the king of extreme value, also known as deep-discount retailing. Gold is the founder of the 99 Cents Only Stores chain and the probable inventor of what's fast becoming known as the 99-cent lifestyle.