Long-time Cost Plus World Market leader Barry Feld has left the Bed Bath & Beyond-owned retail banner to become CEO of 99 Cents Only Stores. Feld also will serve as a 99 Cents Only board member.
He has served as Cost Plus CEO and executive chairman for the past 15 years. Previous to that, he was CEO of PCA International, an operator of specialty retail concepts in over 3,100 Walmart stores in five countries, Vista Eyecare and Frame-N-Lens Optical.
Norman Axelrod, 99 Cents Only Stores chairman, 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 Thornton’s continued guidance as vice chair of our board.”
After a recent change in leadership, Bed Bath & Beyond has been reevaluating its retail portfolio, which, in addition to Cost Plus, includes Harmon Stores, buybuy Baby and Christmas Tree Shops, including potential divestment.