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More Than a Buck
For those of you who are big fans of the 99 Cent Only stores, they've just announced an increase in prices for the first time in 26 years. Oddly enough, the price is still just under $1, but the move raises the prices enough to help the company offset the higher costs of business.
Fear not, you can still walk into your favorite dollar store and purchase an item for 99 cents. The price increase took it to 99.99 cents, which means a little more on the tax side. The company has reported two quarterly losses, and last month they lost $1.5 million-roughly two cents a share. This marginal price increase should be enough to help cover those losses while still letting frugal shoppers be frugal.
Have you ever shopped at a 99 cent store? Does this price increase really mean much? [USA Today]