David Gold, founder and CEO says the 99 Cent strategy is "to create the shortest path possible between the customer and the sale" (Rae-Dupree, 2004). This is important in deep discount retail in order to purchase close-out and other special-situation merchandise at prices substantially below wholesale that sell at prices significantly below regular retail (Symplicity, 2005). Over the past two years, the company has suffered a $17.00/share loss on its stock (from $30 to $13.00) mainly due to declining operating …
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showed last 75 words of 731 total
…H. (2004, September 19). Two Easily Detected Red Flags. Winning Investing. Retrieved June 11, 2005, from Winning Investing Web site: http://www.winninginvesting.com/two_easy_red_flags.htm Rae-Dupree, J. (2004, January 1). Case Study: 99 Cents Only Stores' Efficient IT Infrastructure. Ziff Davis CIO Insight. Retrieved June 11, 2005, from Ziff Davis CIO Insight Web site: http://www.cioinsight.com/article2/0,1397,1456000,00.asp Symplicity. (2002). 99 Cents Only Store. In Employer Profiles (10864). Arlington, VA. Retrieved June 11, 2005, from Symplicity Web site: http://guide.symplicity.com/snapshots/10864