CITY OF COMMERCE, Calif. — 99¢ Only Stores has hired an interim chief financial officer with the resignation of CFO Frank Schools.

99¢ Only Stores has hired an interim chief financial officer with the resignation of CFO Frank Schools.

The extreme value retailer has named Christopher Laurence interim CFO, treasurer and secretary, overseeing finance, accounting and treasury functions for the company.

Laurence comes to 99¢ Only Stores from ThreeSixtyGroup Ltd., a product development and sourcing company for North American consumer packaged goods brands and retailers. Based in Hong Kong, he served as ThreeSixtyGroup’s chief executive officer for the past six years. In his 12-year tenure at the company, he also held the titles of president and chief operating officer, executive vice president of operations and finance, and CFO.

99¢ Only Stores said Schools left the retailer to "pursue other opportunities."

Overall, 99¢ Only Stores operates 348 stores, comprising 247 locations in California, 48 in Texas, 35 in Arizona and 18 in Nevada.