The problem with being a store that sells discount goods is that you have to sell five times as many products as anyone else to plug the hole when times are hard. Discount and bargain stores like 99 Cents Only were once popular choices for individuals and families working to a budget, but the introduction of budget lines within mainstream high street stores has reduced the need for their existence. Walmart, in particular, has been taking more of their market share with every passing year.
Behind the scenes, 99 Cents Only has been struggling to stay alive for years, and after 35 years may have exceeded its natural lifespan. Recent overall owners of the company have included Canada Pension Plan, Ares Management, and even an unnamed private family. New CEO Jack Sinclair says the company has begun to turn a profit, but after losing over $70m in 2017 alone, it still has a mountain to climb.