Management

Grocery retailer Supervalu, which operates more than 4,200 stores across the country, will shutter 29 underperforming locations by the end of its fiscal year, which will be in early March. Fifteen of the targeted stores are located in the Northeast. In addition, the company plans to cut 350 corporate jobs by the end of May, in addition to 300 corporate positions it eliminated in 2010.

Ultimate Electronics, the operator of 46 home entertainment and electronics stores, filed for bankruptcy citing decreased sales at certain locations and refusal of some suppliers to ship goods on credit.

Payless ShoeSource announced that Vincent DeSantis has been promoted to senior vice president and chief marketing officer for Payless, reporting to LuAnn Via, CEO of Payless. In his role, DeSantis will be responsible for all marketing and branding initiatives for the retailer.

Lowe's is laying off about 1,700 middle managers across the U.S. The news comes as home improvement chains focus on cutting costs to tackle tepid demand for expensive renovations in a slowly recovering U.S. economy.

The Bon-Ton Stores said it's extended President and CEO Bud Bergren's contract through Feb. 5, 2012, and has promoted Barbara Schrantz to COO. Under the newly announced agreement, Bergren's contract will automatically renew annually, unless the board chooses otherwise. Schrantz will assume the role of COO on Jan. 30. She is currently executive VP sales promotion and marketing.

Some companies pamper shoppers with swift and attentive customer service. At other places, you can't find anyone who has a clue about how to resolve your complaint.

CVS Caremark said Larry Merlo will succeed Thomas M. Ryan as CEO on March 1 as part of its previously announced succession strategy. The company announced in May that Merlo would take the position as Ryan approaches retirement.

Coldwater Creek announced that Jill Brown Dean has been appointed president and chief merchandising officer, effective Feb. 14. She succeeds Georgia Shonk Simmons, who announced her intention to retire.

Retailer Coach has now seen two of its design executives split at the seams and leave for New York & Company. The latest to jump ship: Coach's Executive Vice President Of Design David Witkewicz.

The Men's Wearhouse announced that Grace Nichols has been elected to the company's board of directors, effective Jan. 30, increasing the number of directors to nine.