Company Snapshot: 99 Cents Only Stores
4000 Union Pacific Ave
Commerce, CA 90023-3202
Total Annual Sales:
David Gold – Chairman
Eric Schiffer – CEO
99 Cents Only Stores is a true single price retailer. The company’s stores offer products at $0.99 or less. The company was founded in 1982 by David Gold who remains the company’s guiding light as Chairman.
The company remains focused as a regional chain with its three hundred plus locations spread across Southern California, Nevada, Arizona, and Texas. In late 2008, the company announced plans to close all of its locations in Texas. Duly noting these stores for extinction, Chain Store Guide research called these stores early in the next year on schedule, to confirm their actual closings. We were immediately told that several closings had been put on hold. Eventually only a third of the Texas stores were closed.
This retailer has been so iconic in Southern California that its recent announcement of its search for a site on legendary, luxury oriented Rodeo Drive created a somewhat stormy debate as to the reality of the search and the need at such an address for a true dollar store innovator. Both sides of the debate however, pondered the idea seriously. Time will truly tell.