Sulabenvis

The executive officers of a company are considered the top officers. Tasked to them are the overall business decisions that can help the company positively in so many ways. One person can be named as part of the executive officers only if he is good, not to mention extremely good.

99 Cents Only Stores is a company originally based in the City of Commerce in California. This retail store sells general merchandise through the price-point retailer system. It means that every item in the said store is sold at a single discounted price. Founded in 1982, 99 Cents Only Stores started as a means to liquidate the wines that were selling slowly. Since then, the company sold different products and was able to gain so much popularity and became a major player in the dollar store industry.

Through its unique method of selling merchandise products, the company was able to grow and propagate to different states. Currently, it has a total of 285 stores in California, Texas, Arizona, and Nevada. There are 211 stores in California, 35 in Texas, 27 in Arizona, and 12 in Nevada.

The growth in the industry of 99 Cents Only Stores in the industry can be well attributed to its executives. Its executives are David Gold the Chairman of the Board and also the Founder of the company, Eric Schiffer the Chief Executive Officer and Director, and Jeff Gold the President and Chief Operating Officer. Robert Kautz is the Chief Finance Officer, Chief Accounting Officer and Executive Vice President and Howard Gold is the EVP for Special Projects. Some of the company’s other Directors are Eric G. Flamholtz, Lawrence Glascott, Marvin L. Holen, and Perter Woo.

Through these people, 99 Cents Only Stores was able to achieve so much success despite some difficulties in the economy in the past. One of the most notable executive for the company is Eric Schiffer. During the recent fiscal crisis in 2008, Eric Schiffer was the man behind the idea of raising the prices. Schiffer stated that increasing the price was inevitable since the inflation was rising rapidly. He proposed that from $0.9999, the prices would be $99.99 so that they would be able to survive the economy. Due to this increase, 99 Cents Only Stores was able to gain an additional $12 million dollar income which gave the company some breathing room. It also helped the company survive the crisis and still be able to provide affordable prices.

Without those executives, 99 Cents Only Stores would be found nowhere.