LOS ANGELES (AP) — Dave Gold, the founder of the 99 CentsOnly Stores more than three decades ago
who saw it expand into abillion-dollar empire, has died. He was 80.Gold died Monday of anapparent heart
attack at his Los Angeles home, his son, Jeff Gold, toldthe Los Angeles Times in a story published
Saturday.Gold was 50when he opened the first store in 1982. He told the Times in 2003 thatwhile working at
his father’s liquor store, he discovered that items hediscounted to, say, 98 cents or $1.02 never sold out
but a 99-cent labelwas magic."When I put a 99-cent sign on anything, it was gone inno time," he
said. "I thought, wouldn’t it be fun to have a store whereeverything was good quality and everything
was 99 cents?"He gavethe dollar-store concept, which at the time was perceived as retailgraveyards for
expired or broken products, a fresh spin by making thestores bigger, brighter and better organized. His
stores eventuallyspread to middle-class and even upscale neighborhoods in California,Arizona, Nevada and
Texas.The chain became a family enterprise —Gold’s three children and son-in-law worked there in some
capacity — andthe chain’s ads displayed his sense of humor. One congratulated the LosAngeles Dodgers
"on losing 99 games." Another wished Joan Rivers "Happy99th Facelift."The company was
sold in 2011 for about $1.6 billion.Goldbecame a multimillionaire but lived modestly. His family said he
livedin the same middle-class home for nearly five decades with Sherry, hiswife of 55 years, and drove the
same Toyota Prius he purchased in 2000.Besides his wife and children, Gold was survived by five
grandchildren.___Information from: Los Angeles Times, http://www.latimes.comCopyright 2013 The Associated
Press.
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