Finance & Capital Management

Bentonville, Ark. – Wal-Mart Stores Inc. is reportedly eliminating the position of zone manager in its stores as part of a plan to strengthen store managers that was first announced in February 2015. According to Bloomberg, Wal-Mart will transfer the responsibilities of zone managers, who oversee multiple departments, to department managers.

Irvine, Calif. -- Tilly’s announced today that CFO Jennifer Ehrhardt intends to resign from Tilly’s to relocate closer to her family and pursue other professional interests. She will continue to serve in the role for an interim period expected to end in June 2015, and will help with the transition process.

Staples Inc. has made a change in a key executive position even as the company awaits regulatory approval for a pending merger with Office Depot.

Staples said it has named Peter J. Scala as executive vice president, merchandising, effective immediately. Scala will report to Demos Parneros, president, North American stores and online, and will be a member of the company’s executive committee.

Washington, D.C. - The United Food and Commercial Workers International Union (UFCW) is seeking an injunction from the National Labor Relations Board (NLRB) against Wal-Mart Stores Inc. relating to the closure of five stores due to alleged plumbing problems. The UFCW wants the NLRB to force Wal-Mart to rehire 2,200 store employees who are currently on paid leave while the stores are closed for what Wal-Mart says are necessary plumbing repairs.

Framingham, Mass. – Staples Inc. will acquire Accolade Promotion Group (APG), a distributor of promotional products in Canada. The acquisition will build on Staples' position as a distributor of promotional products in North America and will expand the breadth of offering for its customers.

Washington, D.C. – The National Retail Federation (NRF) and Gap Inc. are both asking Congress to approve legislation that would reauthorize Trade Promotion Authority (TPA), saying such authority is critical to advancing free trade agreements.

New York -- Office Depot, Walmart, Target, Macy’s and CVS Health are among the top companies for women’s business endeavors, according to the Women's Business Enterprise National Council (WBENC). The list is designed to recognize organizations that integrate policies and programs across the corporation to enable growth and reduce barriers for women-owned businesses; increasing opportunity in new markets – both domestically, and international; fueling innovation; and empowering communities through economic growth and job creation.

Herndon, Va. - In 2014, ACH (automated clearing house) volume grew to almost 23 billion electronic payments, an increase of almost 5%, or 1 billion transactions, from 2013 volume. According to new statistics released by NACHA — The Electronic Payments Association, a total of more than $40 trillion was transferred via NACHA’s ACH Network in 2014, increasing more than 3% compared to 2013.