Citi Trends CEO leaves

The CEO of Citi Trends, a Savannah-based urban fashion retailer, has left the company.

David Alexander had been president and CEO of the 511-store company since April 2009. In a statement, the company said he was leaving "to pursue other business opportunities." He has also resigned from the board.

Alexander is being replaced at the helm by Ed Anderson, the former Citi Trends CEO and current chairman of the board.

Citi Trends has been reporting a decrease in sales at stores that have been open at least a year, and has reported losses in recent quarters. In September, Alexander said the company was eliminating some corporate jobs and reducing the number of stores it would be opening in 2012 to only those it was already committed to. It was the second time in 2011 the company cut back on new store openings.

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