Deals
Dollar Store's Bonds Have Gone Up 280% Since It Ditched Its Recovery Plan
- 99 Cents Only notes rebound under Kroger alumnus after LBO
- Move to higher shelves elevated spoilage, breakage, shrinkage
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99 Cents Only Stores has posted one of the best showings for retailer junk bonds by backing off the sales strategy that was supposed to help pay for the company’s leveraged buyout.
The Go Taller campaign, introduced by the discount convenience chain in 2014, was billed as a "dramatic canvas for visual merchandising." The idea was to remodel stores and give shoppers a broader array of goods by making shelves higher, stacking everything from groceries, diapers, detergent and dog food six-and-a-half feet high.