Content about Eric Schiffer

January 24, 2013

The founding family of the 99 Cents Only Stores chain has been fired by its owners, with retail veteran Richard Anicetti and Michael Fung taking over top executive roles.

City of Commerce, Calif. -- The founding family of the 99 Cents Only Stores chain has been fired by its owners, with retail veteran Richard Anicetti and Michael Fung taking over top executive roles.

The retailer said that Eric Schiffer (CEO), Jeff Gold (president) and Howard Gold (EVP) are “no longer employed by the company” and that Richard Anicetti has been named interim CEO. Schiffer is the son-in-law of founder David Gold while Jeff and Howard are his sons.

October 11, 2011

Discounter 99 Cents Only Stores said Tuesday it has agreed to be acquired by a group of investors including its founding family, Ares Management and Canadian Pension Plan Investment Board for $1.6 billion in cash.

Commerce, Calif. -- Discounter 99 Cents Only Stores said Tuesday it has agreed to be acquired by a group of investors including its founding family, Ares Management and Canadian Pension Plan Investment Board for $1.6 billion in cash.

The announcement ends a months-long sales process, which started with a takeover offer from Leonard Green & Partners in March.

January 10, 2011

Third-quarter sales growth was hard to come by at 99 Cents Only as the extreme value retailer’s heavy concentration of stores in Southern California were negatively affected by unseasonably strong rains that hit the region prior to Christmas.

City of Commerce, Calif. -- Third-quarter sales growth was hard to come by at 99 Cents Only as the extreme value retailer’s heavy concentration of stores in Southern California were negatively affected by unseasonably strong rains that hit the region prior to Christmas.

September 4, 2008

Amid rising inflation and soaring food prices, the 99? Only Stores chain is re-evaluating its...