Friday Funny: The $1.01 Store?

The 99 Cents Only chain is facing a dilemma- with inflation and rising food costs, they're running out of things they can sell for only 99 cents.

"'The number 99 is a magic number -- deviating from that is something we absolutely are not taking lightly,' said Jeff Gold, who began working for the company when he was 14. 'I find significant discomfort emotionally about considering making the change.'

He added that the company hadn't decided whether to change its name if prices were raised. But other discount chains have weathered price increases without adopting new names.

When Motel 6 opened in 1962, it cost $6 to rent a room for a night. Today, rooms start at $29.99, but the company has stuck with its easy-to-recognize name.

'People get used to it,' said Laura Rojo-Eddy, a spokeswoman for Motel 6, which has more than 900 locations. 'Even though the price is no longer $6, we've maintained the positioning of the brand, which is to have the lowest price of any national chain.'

For DJ Thergood, who was picking up snack items at a 99 Cents Only in Silver Lake recently, the retailer's potential price increase 'always seemed like it was inevitable.'

Still, you know the economy is hurting 'when things at the 99-cent store cost $2,' said Thergood, 32, an Echo Park artist."

Full Story: 99 Cents Only retail chain may face price hike

Comments

Prepare for the AICP* Exam

Join the thousands of students who have utilized the Planetizen AICP* Exam Preparation Class to prepare for the American Planning Association's AICP* exam.
Starting at $245
AICP CTP Storefont Display

The first online AICP* CTP exam prep class

Are you ready to take the AICP* Certified Transportation Planner exam?
Priced at $245 for May exam!
Woman wearing city map tote bag

City Shoulder Totes - New Cities Added!

Durable CityFabric© shoulder tote bags available from 9 different cities.
$22.00
Book cover of Insider's Guide to Careers in Urban Planning

So you want to be a planner...

Check out our behind the scenes look at 25 careers in the Urban Planning field
Starting at $14.95