Finance & Capital Management

Chelmsford, Mass. -- There is a disconnect between IT and loss prevention departments when it comes to budgets, focus and staffing, according to a study by IHL Group and Axis Communications.

The Walmart Foundation is making a big statement in support of free school meal and education programs.

The organization will give away $15.5 million in grants to seven national nonprofits to support free meal and nutrition education programs this summer and throughout the school year. The programs in more than 7,700 communities across the country will help over 1 million low-income children and their families gain access to critical meals and teach them how to cook and eat healthy together.

Retail licensing group Sequential Brands, whose brands include Jessica Simpson, Ellen Tracy and Avia, is buying Martha Stewart's lifestyle collection, although the domestic diva will maintain creative control over product.

In a little over three years as a public company, Facebook may now be worth more than Walmart.

The question is, will the social network's surge last?

According to Quartz, over the last year, Facebook’s stock has jumped roughly 30% as the broader S&P 500 has barely managed to keep its head above water. The climb has added more than $65 billion to Facebook’s market value, bringing it to more than $236 billion, just above Walmart’s $235 billion.

Costa Mesa, Calif. – Anna’s Linens’ stores will soon be history.

Wallingford, Conn. — Edible Arrangements International has named Tony DiPippa as CFO.

DiPippa replaces former CFO George Wilson, who moves over to support Edible Arrangements founder and CEO Tariq Farid in the expansion of Edible Brands and  his other ventures, including Netsolace, Broadpeak and Naranga.

San Jose, Calif. – eBay Inc. has sold its 28.4% stake in Craigslist back to the online classified ad service inn a confidential settlement agreement. eBay initially purchased the stake from Craiglist in 2004, but the two parties have been involved in litigation for years.

Boca Raton, Fla. — A deal that would leave the nation with one giant office-supply retailer is one step nearer to completion.

Office Depot shareholders have voted overwhelmingly in favor of the proposed $6.3 billion buyout offer from rival Staples Inc., with 99.5 % of the votes cast in favor of the merger.

Staples proposed to acquire Office Depot in February in a cash-and-stock deal. Under the deal, Office Depot shareholders will get $7.25 per share in cash and 0.2188 of a share in Staples stock for each Office Depot share held.

New York — Aeropostale is losing a key executive and not replacing her.

The retailer announced that its chief merchandiser, Executive VP Emilia Fabricant, is leaving the company. Effective immediately, the company's senior merchandising team will report to CEO Julian R. Geiger.

The retailer said there are no plans to seek a replacement for Fabricant at this time.

WILMINGTON, N.C. — The Mayfaire Town Center and Mayfaire Community Center have been acquired by CBL & Associates Properties, a publicly traded real estate investment trust based in Chattanooga, Tenn.

The sale, which closed June 18, is not expected to result in immediate changes that will be noticed by consumers.

Once a horse farm, Mayfaire Town Center and Mayfaire Community Center have become one of North Carolina's premier shopping and leisure destinations.