Cub Foods names new CEO after chain sees declining sales

Cub Foods has named a new CEO after more than a year of declining sales.

Cub’s parent company, Rhode Island-based United Natural Foods Inc. (UNFI), tapped David Best, former president and chief operating officer at St. Cloud-based Coborn’s Inc., as it strives to accelerate its retail growth strategy. Best also will lead UNFI’s Shoppers Food Warehouse stores.

Best in a statement said Cub is at a “pivotal” moment.

He succeeds Andre Persaud, who left after less than two years with UNFI. The company’s retail division recorded negative sales growth each quarter during Persaud’s tenure.

The chain has had other struggles as well.

In June, UNFI was the target of a cyberattack, leaving bare shelves at stores in the Twin Cities and across the country and some pharmacies unable to fill prescriptions. The company said it expects the cyberattack to cost it at least $350 million in sales.

Cub also recently announced the closure of its University Avenue W. location in St. Paul’s Midway neighborhood at the end of the month.

“As a former UNFI customer and Minnesota native, I have a great respect for the differentiated value UNFI is creating within our industry and for everything the Cub brand means to the community I call home,” said Best, who also has worked at General Mills and Target.

UNFI Chief Executive Sandy Douglas said in a statement that Best’s local connections “will be invaluable as we partner with our franchisees to drive long-term, shared growth.”

The move comes as the grocery industry is grappling with keeping prices down as their costs increase.

Cub comes in third in Twin Cities market share, according to Chain Store Guide. Walmart and Target hold the top two spots with 19% and 17%, respectively. Cub maintains 16%.