Title: 99 Cents Only Stores - Wikipedia
Headings: 99 Cents Only Stores
99 Cents Only Stores
Contents
History
Early History
2000s
2010s
In popular culture
References
External links

Content: When I put a 99 cent sign on anything, it was gone in no time. I realized it was a magic number." On a “lucky” Friday, August 13, 1982, Dave and Sherry Gold opened the first 99 Cents Only Store in Los Angeles. To celebrate the Grand Opening, Dave decided to sell television sets for only 99 cents to the store’s first 13 Families. More than 300 people showed up to stand in line and wait for the store to open. The huge line caught the media’s attention, and more than 10 TV outlets covered the store’s first day. The success of this first grand opening inspired a tradition, with new stores continuing for years to offer 99-cent deals for televisions and other products. 2000s
In November 2003, a more flexible pricing structure was implemented where items are sold for prices lower than 99 cents (for example, 69 or 49 cents). The management believed that this will permit better management of commodity price increases. In September 2007, the company raised its prices by $0.0099 - about 1%, e.g. from 99 cents to 99.99 cents—the first increase in the history of the franchise—to combat "dramatically rising costs and inflation."