99 Cents Only Stores which is a retail chain based in California has earned huge profits under the management of their CEO Eric Schiffer. This company has deep discount retail store where the products are sold at 99 cents or even less than that. They deliver great value to all the customers. Mr. Schiffer has developed this company into the ideal choice for the customers during the challenging economic period. For every price sensitive customer the 99 Cents Only Stores outlets are an ideal destination for shopping. Any value conscious consumer will find it a great place to shop. Eric Schiffer also ensures that all the customers have a wonderful shopping experience. This is accomplished by offering providing great value on a wide range of high quality items. These include the basic household and food products. They offer items from some of the name brands.
The Stores
Eric Schiffer makes sure that the customers of 99 Cents Only Stores get the perfect shopping experience. All the stores are merchandised in an attractive manner. Full service and clean locations provide the customers with significant value. They can find different types of their daily household requirements in a fun environment of shopping. The first store was opened in 1982 when the company was established by David Gold. Since then 99 Cents Only Stores has developed a lot with the help of Eric Schiffer’s managerial abilities. At the outlets of this company you will find various grocery items. You can also visit these stores for food and beverages. At present there are more than 250 stores of 99 Cents Only Stores. However, almost 75 percent of them are in California. You will also find these stores in Arizona, Nevada and Texas. The average sale of every store in a year is more than $4.5 million. This rate is believed to be the highest in the industry of the dollar stores.
Cutbacks
In 2008, 99 Cents Only Stores announced that they will close all their Texas stores. However, in 2009 they decided that one-third of their outlets states would only be closed. They reported an increase in sales and the stores were planned to be kept opened as long as they are profitable.
The success of Eric Schiffer can be inspirational for anyone who wants to achieve something. You can be highly influenced by the management skills of Mr. Schiffer. You can apply his modules in your own business for making it profitable.