99 Cents Only Stores has appointed Jack Sinclair CEO upon the retirement of Geoffrey Covert.
Sinclair joined the company in 2015 as chief merchandising and marketing officer. Sinclair has led retail businesses in the U.S. and the U.K. in his 35-year retail career. He led the grocery business of Walmart U.S. from 2007 to 2015, having previously spent 14 years at Safeway in London where he had responsibility for operations, merchandising and marketing.
“99 Cents Only Stores is one of the most iconic and unique brands in retail today,” said Sinclair. “I am privileged to serve with a team that has laid a solid foundation for success and that delivers unparalleled value and a unique customer experience. We look forward to continued growth, welcoming new customers to our existing stores and introducing our stores to new communities. We have ambitious goals and our growth trajectory is just beginning.”
In addition, Jason Kidd has been appointed as president and chief operating officer, reporting to Sinclair. Kidd has over 25 years of retail experience and joined the company in 2014 as svp/store operations. Prior to joining the company, Kidd held a senior vice president role with Sam’s Club.
Norman Axelrod, a director since 2012, has been named chair of the board, succeeding Andrew Giancamilli, who will continue to serve as a director. Felicia Thornton has been named vice chair of the board and will continue to serve in her current capacity as the company’s chief financial officer.