Eric Schiffer being the chief executive officer as well as director of the company had joined in 1991 and since then had actively participated in the growth of the company. Mr. Schiffer graduated from the Harvard Business School, which is considered as one of the finest business schools in the world. From 1987 to 1991 he worked as venture capitalist for a private firm. The main profile of 99 cents only stores promises that all of its products are being sold at 99.99 cents or even less than that in all retail stores.
After the recession period, 99 cents only stores had found an investor interest which was being offered from Ares management and also through Canada pension investment plan board for nearly $1.6 billion or even for $ 22 per share. Eric Schiffer and the Gold family had cooperated a lot in this deal because they hold a share to the extent of third part of the stocks of this store because they had served as chief executive officers for this company. The company also stated that both of them will lead their roles and continue to serve as directors for the company too. Being the CEO of the company and keeping in mind the interest of the company he believed that Ares management and CPPIB will prove to be their excellent partners in achieving the foresighted long term future goals. His main objective was to provide the products of quality values to their customers and also to provide a comfortable place for all his employees to work. Even in the time of recession the company decided to open all the stores till it will remain profitable for the company. The main idea of 99 cents only stores is to provide its customers the retail sale of consumable items keeping their main focus on the brand names.
The store offers a wide range of products which includes regularly consumable foods such as frozen food, refrigerated as well as beverages too. These stores also offers some household products such as cleaning supplies, glassware and kitchen items, various kinds of hardware items and even provide seasonal goods too. These stores also supplies baby products, entertainment products, clothing and even electronic items. The store promises to be an exhilarating one stop shopping destination for consumers who are price-sensitive and on the other hand a fun-filled shopping encounter for customers who want value for their money.