Police officers responded to the scene on the 5000 block of Hollywood Boulevard around noon and found a male gunshot victim. He was declared dead at the scene.
The shooting happened at the 98 Cents Store, police said. A frequent shopper told Eyewitness News the victim is the store's owner.
Police said the suspect was seen wearing a gray hooded sweatshirt, a white shirt and a white hospital mask.
A motive for the shooting was not immediately determined.
Hollywood Boulevard was closed in both directions from Normandie to Mariposa avenues due to the investigation.