99 Cents Only Stores Names President & CEO

by Katie Lee

City of Commerce, Calif. — 99 Cents Only Stores LLC has hired Geoffrey Covert to join the company as president and chief executive officer. Covert was selected by the board of directors for his extensive senior leadership experience in the grocery retail sector, having most recently served as a senior vice president at The Kroger Company, one of the world’s largest food retailers.

Interim CEO Andrew Giancamilli will remain with the company as the chairman of the board and will continue to work from its City of Commerce headquarters during a transition period.

“I am excited to join this growing and transforming business. I was attracted to 99 Cents Only Stores’ strong fundamental business strategy, longstanding brand loyalty among customers, and its long-term growth potential in the extreme value sector,” says Covert.

At Kroger, Covert was previously responsible for nine operating divisions as well as new market expansion. Prior to joining Kroger in 1996, he worked for 22 years in a number of management positions at The Procter & Gamble Co.

Founded in 1982, 99 Cents Only Stores is the leading operator of extreme value stores in California and the Southwestern United States. The company currently operates 389 stores located in California, Texas, Arizona and Nevada.

SOURCE: 99 Cents Only Stores

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