The rise and fall of 99 Cents Only [Los Angeles Times (CA)]
Ares Management Corporation Class A (ARES)
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Source: Los Angeles Times
Another cold, wet storm is set to hit SoCal this weekend. And here's today's e-newspaper The rise and fall of 99 Cents Only Californians love a bargain. For more than 40 years, we've found one at 99 Cents Only. But the iconic store announced last week that it will close all of its locations. 99 Cents Only was an L.A. icon. The first 13 customers who walked into 99 Cents Only at its Grand Opening in 1982 got an extra special deal: 99 cent televisions. Founder David Gold didn't look back. Within two years, the family opened two more locations. By 1991, there were two dozen. By 2011, 289 dotted the map across the South West. “We were jam-packed from the beginning,” Howard Gold, David's son, told The Times last week Two parts to the winning formula: The price: “When I put a 99-cent sign on anything, it was gone in no time,” David Gold told The Times in 2003 . “It was a magic number.” The quality: “My dad really loved the merchandise,” daughter Karen Schiffer said in h
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