Eric Schiffer Is A Key Player Behind The Success Of 99 Cents Only Stores
Eric Schiffer is a respected name in retailing business, especially in America. Currently he is the CEO and holds his office at the California based 99 Cents Only Stores. He was appointed by the company in the year 1991, as the director of 99 Cents stores, which was started by David Gold in 1982. David is Eric’s father-in-law, who soon recognized Eric’s potential in retailing business and hired him. Even though Eric had planned earlier to become a professional engineer he joined the retail business.
99 Cents stores
99 Cents only is a retail array of stores that are popular because they offer several household and other merchandise for not more than one dollar or 99 cents. This 99 Cents has its base in California, which has 211 stores of which 6 stores have been inaugurated recently.
Arizona, Texas and Nevada are the other states, where several retail stores are situated. Eric is very proud that these retail stores are offering a wide variety of items and he has also revealed on many events that more than half of these products consist of food and beverages.
Rising revenues of the stores
Eric Schiffer has presented his excellent ability and his marketing deftness as the CEO of 99 Cents Only Stores. He had started his educational career in becoming an engineer by joining the Duke University and getting his bachelor’s degree in Science and Engineering. He worked as a business entrepreneur for four years before he joined the 99 Cents Only Stores.
In 2005, he was appointed as the CEO and is leading the company successfully, which is seen in the rising trend shown in the balance sheet, whose yearly gross revenue was 1.3 billion dollars in the year 2009.
Eric Schiffer has illustrated confidently that whatever is the economic state of America, 99 Cents Only Stores will always continue to perform fine because the retail store has brought about an optimistic change in their approach. Eric acknowledges that winning a new customer is easy for his business because people do not have to hesitate about the prices before entering their stores, as for many people every cent counts.
A powerful point of this retail stores fame is that many well-known celebrities including Barbara Bush and Richard Gere shop at 99 Cent only Stores. Every year, the retail stores are successfully selling approximately an average of 1.5 billion products and will only go on getting better under the leadership of Eric.