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As seen on his impressive academic background, one can say that Eric Schiffer indeed deserves his current position as the CEO of the popular 99 Cents Only Stores. He finished his engineering course at the Duke University. He then earned his MBA degree at the Harvard Business School. His professional life began when he was hired as a venture capitalist of Oxord Partners. In 1991, he moved to 99 Cents Only Stores where he was first appointed as the Director. This company has become one of the fastest developing companies in the whole world mainly because of its unique business. It has been known as the company that offers a wide selection of household products at prices $0.9999 and below.

Eric Schiffer has been among the brains behind the tremendous success of the company, year after year. He has created a dynamic team environment with his fellow business executives in the company to secure an effective leadership to the company’s hundreds of employees. To date, this company operates in more than 285 retail stores in Southern California and other states of the US. These stores include 35 in Texas, 12 in Nevada, and 27 in Arizona. Approximately, the total leased commercial area covered by all of the company’s retail stores is 21,200 square feet.

One of the most admired things about Eric Schiffer is his consistent commitment of pursuing innovation on the company’s operations and quality of customer service. He makes thorough analysis of his business plans that are primarily focused on creating top-of-the-line products at considerably very low prices. He usually bases his decisions on the experience of his family from extreme poverty brought by the expensive household commodities. Other than that, Schiffer has shared to the team he leads his vision of bringing the customer-oriented business of 99 Cents Only Stores in every place in the US. His story of success has served as an inspiration to the members of his team, from the administrative department down to the lowest levels.

Sometime in 2008, the company has been much affected by the terrible odds in the international market. It led for Eric Schiffer and the rest of the company heads to put a slight increase to the product prices. Through the joint expertise, effort, and passion of the company’s business leaders, the prices did not go higher than 99.99 cents. To date, the company has recovered from the said crisis and has started to lower the price of some of its products.

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