Though 99 Cents Only stores have long been a money-saving mecca for bargain shoppers, customers are outraged that the company has decided to raise their prices to 99.99 cents.
Though merely a fractional increase, NBC Los Angeles reports that the company is facing two class-action lawsuits that claim unfair and deceptive advertising and business practices.
According to Dan Callahan, an Orange County lawyer, a survey conducted before the lawsuit was filed showed that most people did not realize that they were paying more than 99 cents.
“If they call themselves 99 Cents Only, it should be 99 cents,” Callahan said.
Company executives assert that consumers were not misled. According to chief executive Eric Shiffer, large posters were put in front of the window of every store and multiple ads were put out to the public.
The price increase is expected to bring in an extra $12 million in revenue.