99 Cents Only
The popular retailer that offers discount goods has found itself in a tough go lately, facing competition from companies like Dollar General, Dollar Tree, Walmart, and other cheap retail stores. In 2017, the company reported a net loss of $27.1 million on top of the $33.6 million in losses during the second quarter and $8.8 million in the first.
Source: Cheat Sheet
The 35-year-old company tried to make a big change years ago. The 99 Cents Only company was sold to Ares Management, Canada Pension Plan, and to a private family. The new CEO, Jack Sinclair, replaced Geoffrey Covert. 99 Cents Only is still losing major money, however. Only time will tell if they will be able to beat the competition. Is anyone else thinking it would be great to have a 99 cents store online?