LOS ANGELES, March 9, 2020 /PRNewswire/ -- 99 Cents Only Stores LLC (the "Company" or "99 Cents Only Stores") announced today that Barry J. Feld joined the Company as its new Chief Executive Officer, effective March 6, 2020. Mr. Feld will also serve as a member of the Company's board of directors.
Mr. Feld brings over 30 years of strategic leadership and experience in the specialty retail space to his new role. Most recently, he spent fifteen years as the Chief Executive Officer and President and, later, the Executive Chairman of Cost Plus World Market, where he and his management team built Cost Plus into a leading specialty retailer of casual home living and entertainment products, including specialty food and wine.
Prior to joining Cost Plus, Mr. Feld was the Chief Executive Officer of several noted retail companies of scale, including PCA International, Inc. (an operator of specialty retail concepts in over 3,100 Walmart stores in five countries), Vista Eyecare (a retail chain of over 900 vision centers), and Frame-N-Lens Optical, Inc. (which was then the largest chain of retail optical stores in California). In addition to his executive and board roles, since 2015, Mr. Feld has served as the Chairman of the board of the Retail Management Institute of Santa Clara University, where he leads and collaborates with executives and academic professionals.
Norman Axelrod, the Chairman of 99 Cents Only Stores' board said, "Barry's experience overseeing large, high-growth and innovative customer-focused businesses makes him ideally suited to lead 99 Cents Only Stores. We are delighted to have a seasoned executive with such notable merchandising, extreme value and leadership credentials joining the 99 Cents team. We thank Felicia Thornton for her leadership as Interim Chief Executive Officer and look forward to Ms. Thornton's continued guidance as Vice Chair of our board."
Mr. Feld said, "I'm excited to be 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. 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."
About 99 Cents Only Stores LLC
Founded in 1982, 99 Cents Only Stores LLC is the leading operator of extreme value stores in California and the Southwestern United States. The Company currently operates 386 stores located in California, Texas, Arizona and Nevada. 99 Cents Only Stores LLC offers a broad assortment of name brand and other attractively priced merchandise and compelling seasonal product offerings. For more information, visit www.99only.com.
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SOURCE 99 Cents Only Stores