New era begins for 99 Cents Only
A new era begins at 99 Cents Only Stores where long time Cost Plus World Market executive Barry Feld has been named CEO.
The operator of 386 extreme value stores with a heavy emphasis on food and consumables had been without a permanent CEO since former top executive Jack Sinclair stepped down for the top job at Sprouts Farmers Market and board member Felicia Thornton filled in on an interim basis.
Feld brings more than 30 years of strategic leadership and experience in the specialty retail space to the role, having spent 15 fifteen years as the CEO and president and, later, the executive chairman of Cost Plus World Market. Prior to that he was CEO of a PCA International, a chain of portrait studios with locations in more than 3,100 Walmart stores and before that as CEO of the 900 location Vista Eyecare chain.
"Barry's experience overseeing large, high-growth and innovative customer-focused businesses makes him ideally suited to lead 99 Cents Only Stores,” said Norman Axelrod, chairman of the 99 Cents Only Stores board of directors. “We are delighted to have a seasoned executive with such notable merchandising, extreme value and leadership credentials joining the 99 Cents team.”
“We have an incredible brand and I plan to continue the work to be our customers' preferred extreme value retailer,” Feld said. “I look forward to drawing on my experience to support the efforts underway to build on our core strengths and differentiate our offering in the marketplace. We have great associates, loyal customers and fantastic suppliers who are all part of the magic of 99 Cents Only Stores."
The company was founded in 1982 and currently operates 386 stores in California, Texas, Arizona and Nevada.