You have know when to hold them, and know when to fold them...and after 94 years, a Casper family jewelry business is cashing out, while they're still ahead.
99 Cents Only Stores Inc. said Tuesday it had agreed to a $1.6 billion buyout from Los Angeles private equity firm Ares Management and the Canada Pension Plan Investment Board.
The chain, founded in 1982, operates 289 stores in California, Texas, Arizona and Nevada, and was a pioneer of the single-price retail concept. Such low-priced stores have become increasingly popular with consumers in the y