One of our country’s historic supermarkets seems to have come to an end, leaving behind years of success and millions of customers. The closure of 99 Cents Only has been received with surprise, and now the social networks are in shock. The truth is that it was one of the most successful for its reputation for keeping prices low. Have they not been able to resist the excessive inflation? We tell you what has happened and what the reactions have been.
Historic chain closes for good: attention to an unexpected decision
99 Cents Only Stores is a discount retailer that has operated in the United States since 1982. Founded by David Gold, the chain pioneered the “single price point” retail concept by offering all merchandise in its stores for just 99 cents, a concept that was internationally expanded later.
This unique model focused on extreme value, selling brand name goods and private label products across grocery, general merchandise, housewares, health and beauty, and seasonal categories – all for under a dollar. The “99 and Below! No Limit. No Coupon. No Membership Fee” slogan highlighted the chain’s commitment.
With its no-frills warehouse aesthetic and bright orange and purple color scheme, 99 Cents Only Stores carved out a niche in the discount retail space. The company expanded across California, Texas, Arizona, and Nevada over the decades, serving value-focused shoppers seeking bargain prices on everyday essentials and indulgences.
99 Cents Only disappears for good: how it grew and declined
Over the past few years, 99 Cents Only Stores has seen a steady decline in its business. The extreme value retailer has closed over 60 locations across California, Texas, Arizona, and Nevada since 2020. This represents nearly 10% of its total store count being shuttered.
The company has struggled financially, reporting losses for multiple quarters. In its most recent earnings report, 99 Cents Only Stores saw same-store sales decline by 5.4%. Total revenue for the quarter was down 4.7% compared to the prior year.
The company attributed the falling sales to reduced customer traffic and product cost inflation impacting its ultra-low prices. 99 Cents Only Stores hasn’t turned an annual profit since 2018. The company has attempted various turnaround efforts to stop the bleeding, including trying to raise some prices above 99 cents.
This is what the 99 Cents Only sale will be like: last days to take advantage of it
The liquidation process involves selling off all of the company’s inventory and assets in order to pay off debts and obligations. 99 Cents Only Stores has hired a liquidation company called SB360 Capital Partners to handle the process. It will send teams into all of the 99 Cents Only Stores locations and markdown prices on all merchandise.
Discounts will start at 30-50% off and increase over time as more inventory needs to be cleared out. The liquidators will bring in temporary signage and displays to highlight the store closing and liquidation sales. Every item in the store will eventually be marked down until it sells.
That includes all of the general merchandise that 99 Cents Only Stores was known for – groceries, household goods, personal care items, cleaning supplies, and seasonal products. The liquidators will also look to sell off store fixtures and equipment such as shelves, registers, and refrigeration units.
The liquidation sales will continue for 1-3 months until inventory levels are depleted enough for the stores to close down permanently. Remaining inventory that does not sell may be sold to wholesalers or other retailers in bulk. The company aims to sell off as much inventory as possible.
As you can see, the closure of 99 Cents Only has left behind a long chain of unfavorable reactions, from those who criticize the fact that inflation has wiped out a historic brand to those who claim that the company could have held on longer. Either way, this decision is not only the end, it’s also the beginning of your chance to buy clearance products at low prices.
