Finance & Capital Management

Rite Aid Corp. announced Monday that Steve Rempel, a highly experienced information technology executive, has been named Rite Aid's SVP and chief information officer.

Camp Hill, Pa. - Steve Rempel, who spent 35 years in a variety of executive positions at Safeway, has been named Rite Aid’s senior VP and CIO. In this position, Rempel will have responsibility for all aspects of the company’s technology and information operations, including computer systems, network infrastructure, telecommunications and data security.

Los Angeles -- Frederick's of Hollywood Group filed Chapter 11 after earlier closing all of its 94 remailing stores and entering into an agreement to sell its online business, inventory and intellectual property to Authentic Brands Group LLC for a reported $22.5 million.

Founded in 1947, the privately held retailer of sexy lingerie cited competition (it faced an especially formidable rival in Victoria’s Secret), decreased mall traffic and leases in its filing. It listed $36.5 million in assets and $106 million in debt.

New York -- A. Alfred Taubman, a real estate developer who is credited with inventing the modern indoor shopping center, has died. The 91-year-old Taubman died Friday evening of a heart attack at his Bloomfield Hills, Michigan, home.

The announcement was made over the weekend by his son, Robert Taubman, chairman, president and CEO of Taubman Centers Inc., in a statement to employees.

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.

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.

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.

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.