7 Reasons Why Are 99 Cents Only Stores Closing? The State Of Family Dollar Stores Today

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99 Cents Only Stores announced their closure of all 371 locations in April 2024. Here are the main reasons cited for their closure:

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The Family dollar company faced a combination of difficulties, not just one isolated factor.

Multiple Challenges

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The pandemic's unprecedented economic effects played a significant role.

COVID-19 Impact

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Changes in what customers were buying likely affected their profitability.

Shifting Consumer Demand

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Rising costs of goods put pressure on their margins.

Inflation's Squeeze

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"Shrink," a term for inventory loss due to shoplifting, employee theft or other reasons, increased.

Inventory Theft

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Larger economic trends beyond their control also played a part.

Macroeconomic Headwinds

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