Gold, 99 Cents Only Founder, Dies

LOS ANGELES-Dave Gold, founder of retailer 99 Cents Only, has died, according to published reports. He was 80.

According to a history of the retailer from Wikipedia, Gold founded 99 Cents Only in 1982, coming up with the idea as a means of liquidating slow-selling wines in his liquor stores. The history and the press reports quoted Gold as saying, "Whenever I'd put wine or cheese on sale for $1.02 or 98 cents, it never sold out. When I put a 99 cent sign on anything, it was gone in no time. I realized it was a magic number."

According to the 99 Cents Only website, the store count currently totals more than 300, with most of the locations in California but also with sites in Texas, Arizona and Nevada. According to the history, the retailer agreed to a buyout of $1.6 billion by Ares Management and the Canada Pension Plan Investment Board in October 2011. The Gold family's involvement in the company ended in January of this year.

According to the press reports, Gold is survived by his wife, Sherry; three children, Howard, Jeff and Karen; a son-in-law, Eric Schiffer; and five grandchildren.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.


  • Von Tobel Cites Brass Textures Among Top Trends

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN cover for September 2017


    September 2017


    2017 State of the Industry Report
    Cautious Optimism, Mixed Results

    Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.


    •  TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
    •   Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
    •  N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.