California 99 Cents Only Stores May Be Saved—Investors Hearken Back to a 'Treasure Hunt' Form of Shopping

The former president of Big Lots (formerly Pic 'N' Save) is putting together a group of investors to save the 99 Cents Only Store locations in California. On Friday, the stores' operators began liquidation of the merchandise and fixtures at locations, and that will continue. But 90 days after the completion of the closures, the investors hope to do a grand reopening of the 143 California outlets with a return to the original vision of the bargain hunt, found treasure atmosphere.

The team includes former 99 Cents Only Store executives who will build their collective vision of refocusing on the experience of shopping rather than empire-building. Miller seems to understand the original vision for the store and what it means to the affected communities if the 99 Cents Only Stores cease to exist. Bravo to Miller and this action by business owners who understand not just what it does to an economy to have such a mass wave of closures but to the community the business serves.

The fact that these bargain discount stores are closing instead of expanding is a bad sign. In March, the Dollar Tree corporation also announced it was closing 1,000 stores across its brand.

Dollar Tree announced it will close nearly 1,000 of its Family Dollar stores after the stores experienced a significant underperformance in 2023, according to the press release by the company. During the fourth quarter of 2023, Dollar Tree underwent a review of its stores performance to identify locations to close, relocate or re-banner, the company said.

While the potential reopening of these 99 Cents Only locations is a positive thing, California has a serious retail theft problem and laws that favor criminals rather than small business. They'll need Miller and his team's vision to reopen the stores, but they'll also need to figure out how to improve community safety in order to protect their investment.

Read more updates here

Report Reveals Some Shocking News About Teen Drug Use—It's Down

The data is in, and it reveals some very encouraging news about the rate of teen drug use. To put it simply, it is on the decline. This is a positive development. However, there is still more work to be done to protect minors from drug addiction.

A new report details findings from the National Institute on Drug Abuse (NIDA), which show that teenagers are not consuming drugs as often as in the past. In 2023, 46 percent of seniors said that they’d had a drink in the year before being interviewed; that is a precipitous drop from 88 percent in 1979, when the behavior peaked, according to the annual Monitoring the Future survey, a closely watched national poll of youth substance use.

Despite the decline in the rate of teen drug use, there has been a sharp rise in the rate of minors dying from fentanyl. The numbers show that the rate has doubled from 2019 and 2020. This seems to suggest that while fewer teens are consuming drugs, those who take them are using more harmful substances – often without their knowledge.

The 2023 data continue to document stable or declining trends in the use of illicit drugs among young people over many years. However, importantly, other research has reported a dramatic rise in overdose deaths among teens between 2010 to 2021, which remained elevated well into 2022 according to a NIDA analysis of CDC and Census data. This increase is largely attributed to illicit fentanyl, a potent synthetic drug, contaminating the supply of counterfeit pills made to resemble prescription medications.

Taken together, these data suggest that while drug use is not becoming more common among young people, it is becoming more dangerous.

Read more updates here