{"id":7436,"date":"2016-08-04T15:10:31","date_gmt":"2016-08-04T15:10:31","guid":{"rendered":"http:\/\/newsroom.chainstoreguide.com\/?p=7436"},"modified":"2016-08-04T15:10:31","modified_gmt":"2016-08-04T15:10:31","slug":"csg-snapshot-99-cents-only-stores","status":"publish","type":"post","link":"https:\/\/www.chainstoreguide.com\/offthechain\/2016\/08\/csg-snapshot-99-cents-only-stores\/","title":{"rendered":"CSG Snapshot: 99 Cents Only Stores"},"content":{"rendered":"<p><a href=\"https:\/\/www.chainstoreguide.com\/c-77-discount-dollar-specialty-store-leads.aspx\" target=\"_blank\"><img decoding=\"async\" class=\"alignright\" src=\"http:\/\/www.chainstoreguide.com\/email\/glance_99cent_2016.jpg\" alt=\"\" \/><\/a>4000 Union Pacific Ave<br \/>\nCommerce CA 90023<br \/>\n(323) 980-8145<a href=\"http:\/\/www.99only.com\" target=\"_blank\"><br \/>\n99only.com<\/a><\/p>\n<p><strong>Total Stores<\/strong><br \/>\n392<\/p>\n<p><strong>Total Sales<\/strong><br \/>\n$1.96 billion<\/p>\n<p><strong>Year Founded<\/strong><br \/>\n1982<\/p>\n<p><strong>Trading Areas<\/strong><br \/>\nAZ, CA, NV, TX<\/p>\n<p><strong>Senior Executives<\/strong><br \/>\nPresident + CEO: Geoffrey Covert<br \/>\nCFO: Felicia Thronton<br \/>\nChief Merchandising Officer: Jack Sinclair<\/p>\n<h3><strong><span style=\"color: #3a64ae;\">SNAP<\/span><span style=\"color: #808080;\">FORWARD<\/span><\/strong><\/h3>\n<p>After assembling a leadership team in the past year with a track record of success at retail winners like Kroger and Walmart, this is perhaps the last best chance for a turnaround at 99 Cents Only Stores. Building its way out of a sales slump doesn\u2019t seem to be part of the plan. CEO Geoff Covert believes that the 40 stores the company added in 2014 (the largest one-year growth spurt in company history) combined with the 7 added in 2015 cannibalized existing store sales. Instead, tighter inventory control ($130 million reduction in inventory since the second half of calendar 2015) combined with better inventory management (to eliminate stock outages for the top 300 products) is one piece of the puzzle. Another is an improved consumer experience along with a more appealing merchandise mix \u2013 an opportunity for potential suppliers as the company looks for products to fuel success. Recent results (Q1) featured some improvements, such as flat same store sales as opposed to negative, but the jury is still out.<\/p>\n<p><img decoding=\"async\" style=\"max-width: 100%;\" src=\"http:\/\/www.chainstoreguide.com\/email\/99cent_snapshot2016.jpg\" alt=\"Five Below\" width=\"454\" \/><\/p>\n<p><em>Source:\u00a0Chain Store Guide&#8217;s\u00a0Database of Discount Stores &amp; Specialty Retailers.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>4000 Union Pacific Ave Commerce CA 90023 (323) 980-8145 99only.com Total Stores 392 Total Sales $1.96 billion Year Founded 1982 Trading Areas AZ, CA, NV, TX Senior Executives President + CEO: Geoffrey Covert CFO: Felicia Thronton Chief Merchandising Officer: Jack Sinclair SNAPFORWARD After assembling a leadership team in the past year with a track record&hellip; <a class=\"more-link\" href=\"https:\/\/www.chainstoreguide.com\/offthechain\/2016\/08\/csg-snapshot-99-cents-only-stores\/\">Continue reading <span class=\"screen-reader-text\">CSG Snapshot: 99 Cents Only Stores<\/span><\/a><\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"post-template-no-sidebar.php","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3],"tags":[15],"class_list":["post-7436","post","type-post","status-publish","format-standard","hentry","category-discount-specialty","tag-snapshot","entry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/posts\/7436","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/comments?post=7436"}],"version-history":[{"count":0,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/posts\/7436\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/media?parent=7436"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/categories?post=7436"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/tags?post=7436"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}