Archived: 99 Cents Only? Not Anymore

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Responding to inflationary pressures, Commerce-based 99 Cents Only Stores confirmed Monday that it is raising its maximum price for the first time in 26 years—to 99.99 cents.

“In response to dramatically rising costs and inflation, 99 Cents Only Stores is forced to raise its price by almost one full penny to 99.99 cents, which is still just below a dollar,” said Eric Schiffer, the company’s chief executive.

The nearly 1-cent hike will take effect at the company’s 277 stores later this month.

“Just as Motel 6® was eventually forced to raise its price above $6, after 26 years we are forced to raise our price by just about one cent,” Schiffer said.

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