Labor & Employment

Savannah, Ga. -- Citi Trends said Thursday that its president and CEO David Alexander has resigned the company, effective immediately, and will be replaced by prior CEO Ed Anderson, who led the retailer from 2001 to 2009.

Anderson is currently the chairman of the board and will continue to serve in that capacity.

The company also announced that it has hired Jason Mazzola as executive VP and chief merchandising officer. He was previously chief merchandising officer for an internet flash sales company.
 

Asda, Walmart’s U.K. subsidiary, has big plans for 2012 that include investing more than £500m ($784 million) in its stores in 2012.

The company said it will invest the money in opening 25 new stores and three depots, as well as expanding and remodeling 43 of its existing stores. According to the company, this investment will create up to 5,000 new jobs in the United Kingdom. The company noted that current Asda associates would have the opportunity to enhance their careers through the company’s apprenticeship program.

New York City -- The second day of J.C. Penney Co.’s launch event in New York City revealed the retailer’s long-term financial plans to generate profit and shareholder value while reinventing itself.

COO Mike Kramer outlined the company's financial outlook, including an enhanced profit formula derived from the simplified business model unveiled the day before, based on a new three-tier pricing strategy, newly organized promotions and an overhaul of the merchandise assortment.

New York City -- The judge in the Great Atlantic & Pacific Tea Company’s Chapter 11 bankruptcy case on Tuesday approved a $750 million exit financing plan for the supermarket operator.

The approval moves A&P closer toward exiting Chapter 11 and operating as a  privately held company.

The financing package consists of a $400 million revolving loan and a $350 million term loan from J.P. Morgan Chase and Credit Suisse.

MINNEAPOLIS — Supervalu on Tuesday named Michael Moore EVP and chief marketing officer. Moore will lead all of the company’s marketing activities, including overseeing customer and brand strategy, advertising, customer loyalty, and research and analytics.

Moore was named to the top marketing post following this week’s decision by Julie Dexter Berg to leave the company and return to the West Coast.

Washington, D.C. -- The National Retail Federation said it welcomed the emphasis on job creation in President Obama’s State of the Union address, saying that it will help restore the nation's economic state.

Bensalem, Pa. -- Charming Shoppes has promoted Bryan Eshelman to executive VP, chief supply chain officer. Eshelman started with the chain in 2010 as senior VP operations.

Eshelman retains his previous duties of overseeing technology, logistics, technical design and quality assurance. His new responsibilities include directing the retailer’s global direct sourcing from buying offices in such locations as Hong Kong and India, and ensuring supply chain compliance with trade and customs regulations.

New York City -- Wal-Mart Stores Inc. on Wednesday opened its second supercenter and fifth location overall in Chicago.