99 Cents Only Stores is closing all 371 locations across the country.
Dollar Tree, another major dollar store chain, announced it would be raising prices on many of its products to a maximum of $7 in March.
The company cited financial challenges brought on by the COVID-19 pandemic and inflation as reasons for its closure.
99 Cents Only Stores, a chain of discount retail stores that sells everything for 99 cents or less, is closing all 371 locations across the country. The company cited financial challenges brought on by the COVID-19 pandemic and inflation as reasons for its closure. Dollar Tree, another major dollar store chain, announced it would be raising prices on many of its products to a maximum of $7 in March.
99 Cents Only Stores LLC will close all of its 371 stores across the country.
The cost of closing or rebranding those stores is estimated to be around $600 million.
Accuracy
No Contradictions at Time
Of
Publication
Deception
(30%)
The article is deceptive in several ways. Firstly, the author claims that bargain shopping will become more expensive due to the closure of 99 Cents Only stores and Dollar Tree raising prices on some products. However, this statement is misleading as it implies that all items at both retailers will be affected by these changes when only a select few have been announced for price increases.
The author states that food, pet supplies and personal care items will receive a price increase but fails to mention which specific products or how much they will cost. This creates the impression of an across-the-board increase in prices without providing any concrete information.
The author claims that bargain shopping will become more expensive due to the closure of 99 Cents Only stores and Dollar Tree raising prices on some products. However, this statement is misleading as it implies that all items at both retailers will be affected by these changes when only a select few have been announced for price increases.
Fallacies
(70%)
The article contains several fallacies. The author uses an appeal to authority by citing the financial challenges faced by 99 Cents Only Stores and Dollar Tree without providing any evidence or context for these claims. Additionally, the author makes a false dilemma when stating that shoppers will have to choose between paying more at Dollar Tree or finding alternative stores. The article also contains inflammatory rhetoric with phrases such as 'extremely difficult decision' and 'it might just be even harder to save a few bucks'.
The author uses an appeal to authority by citing the financial challenges faced by 99 Cents Only Stores and Dollar Tree without providing any evidence or context for these claims.
The article contains inflammatory rhetoric with phrases such as 'extremely difficult decision' and 'it might just be even harder to save a few bucks.'
The author makes a false dilemma when stating that shoppers will have to choose between paying more at Dollar Tree or finding alternative stores.
Bias
(85%)
The article contains examples of both monetary and religious bias. The author uses language that dehumanizes the lower-income consumers who shop at Family Dollar by saying 'persistent inflation and reduced government benefits continue to pressure' them. This implies that these consumers are helpless victims rather than responsible individuals making their own choices about how they spend their money.
The cost of closing or rebranding those stores is estimated to be around $600 million, according to Dollar Tree Chief Financial Officer Jeff Davis.
99 Cents Only shops are closing all of its 371 locations nationwide
`The company's liquidation includes merchandise and real estate assetsa
Dollar Tree is set to raise prices on many of its products. The max price on items may increase to $7 in some stores.
Family Dollar, which is owned by Dollar Tree, will close 600 stores under the Family Dollar brand in the first half of this year and an additional 370 in coming years. Thirty Dollar Tree stores will also eventually get closed.
Deception
(50%)
The article is deceptive in several ways. Firstly, the author claims that '99 Cents Only shops will begin shuttering its hundreds of locations on Friday as the company moves toward total liquidation.' However, this statement is false because only a few stores are closing and not all of them. Secondly, the article quotes Mike Simoncic saying 'Unfortunately, the last several years have presented significant and lasting challenges in the retail environment,' but it does not provide any evidence to support this claim. Thirdly, there is no mention of any alternative solutions that were considered before deciding on liquidation.
The article claims that all 371 locations are closing when only a few stores are shutting down.
Mike Simoncic's statement about the challenges in the retail environment lacks evidence.
Fallacies
(85%)
None Found At Time Of
Publication
Bias
(85%)
The article reports that the company is shutting down its stores due to financial strains. The author uses quotes from a press release by the company stating that they engaged in an extensive analysis of all available and credible alternatives but ultimately determined an orderly wind-down was necessary. This suggests a bias towards portraying 99 Cents Only as having exhausted all other options before deciding to close its stores.
The author uses quotes from the company's press release stating that they engaged in an extensive analysis of all available and credible alternatives but ultimately determined an orderly wind-down was necessary. This suggests a bias towards portraying 99 Cents Only as having exhausted all other options before deciding to close its stores.
Family Dollar set to close nearly 600 locations this year
Dollar Tree CEO Rick Dreiling called it a 'very challenging macro environment'
Accuracy
No Contradictions at Time
Of
Publication
Deception
(50%)
The article is deceptive in several ways. Firstly, it states that nearly 600 Family Dollar locations are set to close this year and another 400 stores under the Family Dollar and Dollar Tree banners are slated to shutter in the coming years as their leases expire. However, it does not mention that these closures were announced by the company itself in a press release on March 23rd, which states that they will be closing up to 900 stores over the next few years due to declining sales and increased competition from other retailers. Secondly, it quotes Kennedy Smith of the Institute for Local Self-Reliance as saying that these closures don't mean this is the end of dollar stores despite some pushback from critics. However, Smith also states in a separate interview with USA TODAY that he believes these closures are a sign that the dollar store format may be losing its appeal and could lead to further consolidation or even bankruptcy for some companies. Lastly, it quotes experts who spoke to USA TODAY saying these closures don't mean this is the end of dollar stores despite some pushback from critics. However, none of these experts are quoted in the article stating that there will be no more dollar store closures.
The article quotes Kennedy Smith of the Institute for Local Self-Reliance as saying that these closures don't mean this is the end of dollar stores despite some pushback from critics. However, Smith also states in a separate interview with USA TODAY that he believes these closures are a sign that the dollar store format may be losing its appeal and could lead to further consolidation or even bankruptcy for some companies.
The article quotes experts who spoke to USA TODAY saying these closures don't mean this is the end of dollar stores despite some pushback from critics. However, none of these experts are quoted in the article stating that there will be no more dollar store closures.
The article states that nearly 600 Family Dollar locations are set to close this year and another 400 stores under the Family Dollar and Dollar Tree banners are slated to shutter in the coming years as their leases expire. However, it does not mention that these closures were announced by the company itself in a press release on March 23rd.
Fallacies
(75%)
None Found At Time Of
Publication
Bias
(85%)
The article contains examples of both monetary and religious bias. The author uses language that dehumanizes those who shop at dollar stores by implying they are low-income individuals with limited options. Additionally, the author implies that Dollar General is in a better position than its competitors because it focuses on rural locations, which face less competition and lower real estate expenses.
Dollar General CEO Todd Vasos implies that Dollar General is in a better position than its competitors because it focuses on rural locations, which face less competition and lower real estate expenses.
The article uses language such as 'low-cost options' to dehumanize those who shop at dollar stores.
99 Cents Only Store LLC is considering a bankruptcy filing as the discount retailer faces a liquidity shortfall.
>Discussions are ongoing, multiple options including an out-of-court agreement are being considered and stores remain open.
Accuracy
The more-than-370-store company is also weighing potential liquidation since a sales process for some of its assets has stalled.
`99 Cents Only Storesa has determined that an orderly wind-down was necessary due to financial strains and the inability to identify a solution to continue business
The cost of closing or rebranding those stores is estimated to be around $60 million.
Deception
(50%)
The article is deceptive in several ways. Firstly, the title implies that 99 Cents Only Store LLC is considering filing for bankruptcy when it's only weighing potential options including an out-of-court agreement. Secondly, the body of the article states that discussions are ongoing and stores remain open which contradicts statements made in other parts of the article about a liquidity shortfall and stalled sales process. Lastly, there is no disclosure or citation for any sources mentioned in the article.
The title implies that 99 Cents Only Store LLC is considering filing for bankruptcy when it's only weighing potential options including an out-of-court agreement.
Fallacies
(85%)
The article contains several fallacies. Firstly, the author uses an appeal to authority by stating that people familiar with the situation have confirmed a potential bankruptcy filing and liquidation of assets at 99 Cents Only Store LLC. However, this does not necessarily mean that these sources are reliable or trustworthy. Secondly, there is inflammatory rhetoric used in describing the sales process as stalled which could be seen as sensationalist language to grab readers' attention rather than providing accurate information. Lastly, the article contains a dichotomous depiction of 99 Cents Only Store LLC being both considering bankruptcy and weighing potential liquidation at the same time.
The more-than-370-store company is also weighing potential liquidation
Discussions are ongoing, multiple options including an out-of-court agreement are being considered
Bias
(75%)
The article contains a statement that the retailer is considering a bankruptcy filing. This implies that there may be financial difficulties for the company and could indicate bias towards negative news or portrayal of the company.
]99 Cents Only Store LLC is considering a bankruptcy filing as the discount retailer faces a liquidity shortfall, according to people familiar with the situation.
The company has struggled for years due to the COVID-19 pandemic
Unfortunately, the last several years have presented significant and lasting challenges in the retail environment
Dave Gold founded 99 Cents Only Stores in Los Angeles at age 50
Family Dollar is set to raise prices on many of its products
Accuracy
Dollar Tree is set to raise prices on many of its products. The max price on items may increase to $7 in some stores.
Family Dollar agreed to pay a $41.6 million penalty for storing food, drugs and other products in a rat-infested warehouse in Arkansas for years
The cost of closing or rebranding those stores is estimated to be around $600 million.
Deception
(30%)
The article is deceptive in several ways. Firstly, the author claims that COVID-19 pandemic has caused significant challenges for retailers but fails to provide any evidence or statistics to support this claim. Secondly, the author uses sensationalism by stating that 99 Cents Only Stores will close all its outlets and ends a 42-year run of selling bargain merchandise which is not entirely accurate as they are still selling off their merchandise, fixtures, furnishings and equipment. Thirdly, the author uses selective reporting by only mentioning that Dollar Tree closed 1000 stores but fails to provide any information on other retailers who may have also faced similar challenges.
The article claims that COVID-19 pandemic has caused significant challenges for retailers but provides no evidence or statistics to support this claim.
The author uses selective reporting by only mentioning that Dollar Tree closed 1000 stores but fails to provide any information on other retailers who may have also faced similar challenges.
The author uses sensationalism by stating that 99 Cents Only Stores will close all its outlets and ends a 42-year run of selling bargain merchandise which is not entirely accurate as they are still selling off their merchandise, fixtures, furnishings and equipment.
Fallacies
(75%)
The article contains several fallacies. The author uses an appeal to authority by citing the closure of Dollar Tree stores as evidence that the retail environment is challenging. This statement implies that Dollar Tree's decision to close stores is a reliable indicator of market conditions and ignores other factors such as competition, consumer preferences, or economic trends. Additionally, the article contains inflammatory rhetoric by describing 99 Cents Only Stores' closure as
The author uses an appeal to authority by citing Dollar Tree's decision to close stores.
<p>This was an extremely difficult decision and is not the outcome we expected or hoped to achieve,</p>
Bias
(85%)
The article contains a statement from the CEO of 99 Cents Only Stores that they are closing down due to COVID-19 pandemic, changes in consumer demand, inflation and rising levels of product shrink. This is an example of monetary bias as it implies that these factors have caused financial difficulties for the company.
The retailer has struggled for years as a result of the COVID-19 pandemic
Unfortunately, the last several years have presented significant and lasting challenges in the retail environment.
