Just a consolidation. You have an oversaturation of dollar stores. Dollar General, Everything for 1.00, Family Dollar, etc.
Some of the bigger dollar stores are swallowing up the smaller less successful ones.
True, but 99 Cents stores are regional (west coast & Texas only) and at least here in CA (oh, and AZ last I was there) they're generally not facing the same problems as nationwide chains. They've done a good job of beating out the competition and remaining pretty exclusive in certain areas - they've even managed to keep competitor stores far away from them and in many cases, are the ONLY dollar store within a certain mile radius.
They've also been proactive in changing with the times. Most (if not all) locations now offer fresh produce & dairy, bakery goods, frozen meats and they started a line of $1.99 & up items years back, ranging from cookware to dishes to linens.
Tbh I'd more so expect to hear shyt like this about Dollar Tree, which has no problem building stores on every other block and oversaturating the market.
I get what you're saying and it's probably not wrong, but when you look at how they were bought by an investment management company and taken private 7ish years ago you start to wonder...
This is very similar to what's happening with Toys "R" Us right now. They were purchased by a private equity firm and then
suddenly! they find themselves awash in debt. Just one of those things that make you go hm
.