In the life of companies the following cycles are always common: startups, mergers, buy outs and acquisitions. All these are acceptable in the business community as long as they are done legally. It is for these reasons therefore that 99 Cents Only Stores which is a successful discount retail chain has already received a bid of a buyout from Ares management and the Canada Pension Plan investment Board for a market value of $1.4 billion. This deal has mainly been motivated by its good performance in terms of profitability and management. As of 2009, the retail chain had revenue of $1.3 billion with an operating income of $12.09 million, which is a big improvement from the previous years.

Despite the economic downturn, the company has continued to expand opening up to 11 more stores during the year of 2011 continuing with its bullish approach towards investment. A word from the CEO, Eric Schiffer, agrees that the downturn was a boon for growth due to consumer focus on shopping on dollar stores as compared to supermarket chains.

When it comes to the day to day management of the company, 99 Cents Only Stores’ motto, mission and objectives are also good pointers towards its present day success in profitability and good relations with its customers and suppliers. The cornerstone values include integrity, customer care, dependability and flexibility and prompt payment to its suppliers. It ensures that there is a constant flow of merchandise from manufacturers and suppliers and also providing the customers with the commodities they want when they go shopping.

It is important to note that these essential managerial tenets that have been inculcated by the CEO Mr. Eric Schiffer. His involvement with the retail chain can be traced back to 1991 when the founder and chairman, David Goldman brought him to be a director. And for a decade, he stayed in the same position learning more about the company until he was promoted to become president of the same company.  In 2005, he was selected to be the Chief Executive officer which he is serving to date. Ever since he became the CEO, he has guided the company through expansions and profits that are always on the positive. His entrepreneurial acumen didn’t remain behind as he in conjunction with the chairman acquired up to 33% of shares of the 99 Cents Only Stores.

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