Proof inflation is here! 99-Cent Only Store to raise prices
Filed under: Bargains, Shopping
All good things must come to an end.The 99-Cent Only Store, a Los Angeles-based chain whose logo for years has been "Nothing over 99-cents. Ever" is doing just that. The chain is raising prices on some items. There will be some things that will now indeed cost more than 99 cents. I guess this means it's official: Inflation is alive and well.
With rising costs, including a higher minimum wage, and a dragging economy, the chain reported that it lost about $1.5 million in the last quarter. To counter these losses, prices will have to rise on some items. Jeff Gold, the chain's president, hasn't said exactly which items he will hike the price on, but I'm going to take a stab and guess it's going to be the stuff that is a little less junky than normal. That and perhaps food prices. Hard to find a decent gallon of milk for under $2.50 these days. Especially in Los Angeles.
Critics are saying the chain will lose certain "purist" customers who will take umbrage that an item is being sold for, say $1.05 instead of 99 cents. I'm not so sure. Is another 10 or so cents tacked onto an item really going to make or break a sale? A few dollars more on your basket of items? You're still getting your stuff cheaper than anywhere else. Look under your couch and make up the difference.
The 99-Cent-Only Store isn't the only dirt-bottom cheap store to reneg on the dirt-bottom pricing pitch. Similar stores in New York are feeling the bottom-line pinch as well, and are raising their prices accordingly.
Bargain shoppers, start your engines. Check out our resident dollar-store expert Marlene Alexander for tips on what (or what not) to buy, and git while the gittin's good. Or at least while the company website says "STILL nothing over 99 cents...ever!"
Reader Comments (Page 1 of 4)
8-17-2008 @ 7:27PM
Michael Callan said...
The 99 cent store change is a very unfortunate situation. This is especially true for the low income sector of our society. It reminds me of when gasoline was going from a few cents to over a dollar a gallon. I don't want to say that it's just a sign of the times. There just has to be something that we can do to change things for the better.
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8-19-2008 @ 3:00PM
Ray J. said...
The 99 cent stores are a pleasure to shop. The stores are clean and bright and the folks working there are pleasant. I hope that they continue to be successful.
8-19-2008 @ 3:38PM
LOVEPOWERED22 said...
gotta go there. Who else is gonna pay China for our debt?
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8-19-2008 @ 3:17PM
ms.r said...
recesstion inflation nah not true no dollar store no dollar menu. just a bad rummor not. this is just he begainning
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8-19-2008 @ 3:15PM
Evelyn said...
I go to the dollar store all the time. I buy all my toiletries, paper goods, sometimes makeup. In the supermarket Reynolds tin foil is over $3.50 - at the dollar store it's alot cheaper.
Detergent, toothpaste, scented candles that are so over priced in every other store - is so much cheaper there. You can get so much for less.
I bought 12 beautiful wine glasses - and it only cost me $12. I went to Macys and the same glasses were $8 each!!!!
Shop dollar store. Even if prices go up!
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8-23-2008 @ 1:12PM
Chuck S. said...
What I like about the store is that the owner is generous with his employees. What is surprising are the name brand items you can find there on occasion. But what I like best are the fresh foods they now carry.
Too bad they have to bite the bullet...
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8-19-2008 @ 3:36PM
MIA said...
HAVE SHOPPED AT 99CENTS STORE FOR YEARS - TOOK MY RECEIPT TO ONE OF THE LARGE CHAINS ALMOST THE EXACT SAME PRODUCTS:
99 CENTS STORE $23.06
SUPER MARKET $61.90
I CENTAINLY WILL KEEP SHOPPING THERE, AND CAN UNDERSTAND WHY THEY HAVE TO RAISE THEIR PRICES.
I
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8-19-2008 @ 4:01PM
emily morelli said...
! don't know what I will do without the 99 cents-only. I will not be able to eat....I will barely survive. PLUS, the store is a joy to shop in..the employees are the BEST and they work so hard. The store is immaculate. I am crying now. I am punch-drunk IN LOVE with the 99 cents-Only and I feel their L-O-V-E for their customers. This news has really left me shaken.
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8-19-2008 @ 4:17PM
Scott said...
Don't confuse ANY other Dollar Store with the 99-Cent Only Stores. Perhaps the most amazing Chain ever!
Very sad news for these Stores, and our Dollar$ which is becoming virtually worthless.
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8-19-2008 @ 4:17PM
Mel said...
Thank you Scott, Dollar General and Family Dollar will never hold a candle to the 99-Cent Store. They are the best and worth the extra 10 cents per item.
8-19-2008 @ 4:01PM
ARE U SERIOUS said...
are u serious!! the 99-cent store has never BEEN .99 ever! Yes, there is a lot of cheap items there, however, not everything, certainly substainable food, is ever .99 cents! what is our economy coming to if not even the dollar store sells their items for what they are worth-- one dollar! inflation... the economy is just greedy for cash!
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8-19-2008 @ 4:23PM
Mel said...
Not true at all. You must have never shopped at the stores I did in Vegas.
8-19-2008 @ 5:11PM
Charmz said...
The 99c stores they are speaking about are only in Ca,(to the best of my knowledge) and everything has been 99c or less. I have shopped there for years, for toiletries and house cleaning products. Lately I've been shopping there a lot more because they have increased their food section to include fresh vegetables and fruit. Broccoli, mini carrots, dole mixed salads, strawberries, water melon, pineapples etc.
You can get anything from fresh Blueberries 99c; reg supermarket $3:40 to Bertolli's pasta for the same 99c. they have had eggs and milk for 99c for the last 2 years or so.
I'll continue to shop there, even if the price goes up another 10c; because it's worth it.
8-19-2008 @ 4:20PM
jeff said...
Is anyone saying the word "depression"? I barely hear the word "recession". But with tons of forclosures, out of "business"es, more and more people losing insurance, selling off their items to survive, etc. should prove this is a depression. Huge institutions folding! I was a teenager at the time, but it seems a lot worse today than in the 1970's when we had odd/even (license plate numbers)days to buy gas.
Am I wrong? I feel like the world is closing in on me. And that we as a country are not the strong United States of America that we were and most of the world knows this.
Why can't we admit it? We are in trouble and yes we're in a depression.
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8-19-2008 @ 4:46PM
Don said...
We have been in a recsession for about 10 or 15 years. We have been headed into a depression for the past year to year and a half. Living in California I have watched different business's close down, go bankrupt, leave the state over the past 15 years. The depression of the 1920's/30's will look like a cake walk compaired to what we will go through.
8-19-2008 @ 5:14PM
Linda said...
Hi Jeff,
Amen to that! I've been asking why they don't call this what it really is.....A DEPRESSION. I'm 53 and I don't remember things being as bad as they are now, even in the 70's. I'm struck by the number of businesses folding. I'll drive by a place one day and it's an open business, the following week, it's closing!
Glad SOMEONE is seeing the same thing I am....
8-21-2008 @ 12:15AM
dd said...
Hey Jeff: Your Not Alone, This Too Shall Pass, It Might Even Get worse. But Your Not Alone, I too am Saddened at What, OUR Government has done to this country. They Sold Out, BUSH WILL GO DOWN IN HISTORY AS THE GREATEST LAME DUCK, FROM DAY 1 IN OFFICE. IM SORRY THE REST OF YOU , WHO VOTED FOR HIM, WOULDNT LISTEN... BUT HERE IS YOUR CHANCE AGAIN, FOR A LEADER THAT CAN INSPIRE US TO MOVE FORWARD WITHOUT HATRED & MORE WAR, & ITS NOT MC CAIN !
8-19-2008 @ 4:29PM
Shirley Ujest said...
Our regional Dollar Trees Stores helped me through a very rough time and I continue to be a loyal customer.
Manufacturers' costs go up, wholesalesers' costs increase and it is consequently reflected in the retail prices.
We don't have to like it to understand it.
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8-19-2008 @ 4:37PM
JETCHARTER1 said...
99 CENT STORES ARE REALLY NO MORE. I STOPPED INTO ONE LAST WEEK TO TAKE A LOOK. THEN THE FIRST THING I SPOTTED HAD A SIGN ON IT ""$1.39". I ASKED THE CLERK.."I THOUGHT THIS WAS A DOLLAR STORE!" sHE LOOKED AT ME, POINTED AT A SIGN AND SAID "NEW NAME..DOLLAR PLUS"!
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8-23-2008 @ 10:24PM
Gene said...
The only thing that surprises me about this is that 99 Cents Only held out as long as they did. I've been wondering when it would finally happen.
I'll still shop there.
Best deal I ever found there: Belkin lighted USB cables. Same ones that sold at Fry's for $29.99.
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