Corporate Governance

Bentonville, Ark. – Wal-Mart Stores Inc. is reportedly raising wages for some employees in specialized departments beginning in July. According to the Associated Press, managers of more complicated departments like automotive and electronics will have their pay range increased to $13 - $24.70 per hour, from $10.30 - $20.09 per hour.

Vernon, Calif. - True Religion Apparel Inc. has named John Ermatinger CEO, effective immediately. Current CEO David Conn is stepping down.

Ermatinger has been serving as True Religion’s interim senior VP of global sourcing and production will build on the strategic initiatives that have been implemented since TowerBrook’s acquisition in July 2013 and will guide the company into its next phase of development.

Fremont, Calif. - The Men's Wearhouse, Inc. has named Ben Baum as executive VP and chief digital officer, reporting to Doug Ewert, CEO. In this newly created position, Baum will lead all digital and omnichannel commerce and initiatives across digital, mobile and emerging platforms.

Baum previously served as chief digital officer of Bebe Stores Inc.; head of business development, multichannel retail, shopping at Google Inc.; and several merchandising positions at Target, including women's apparel and segmentation merchandising.

Goodlettsville, Tenn. – Dollar General Corp. beat Wall Street expectations for profit but missed on sales in the first quarter of fiscal 2015. Net income totaled $253 million, up 14% from $222 million the same period the prior year.

Higher initial inventory markups, improved inventory shrink rate and lower transportation costs helped boost net income. Net sales increased 9% to $4.92 billion, compared to $4.52 billion. Same-store sales increased 3.7%, resulting from increases in both customer traffic and average transaction amount.

Washington, D.C. - The National Retail Federation (NRF) is hiring Mark Mathews as VP of research development and industry analysis. Mathews will develop, evaluate and direct research initiatives for NRF’s Retail Research and Analysis Center, which was announced in April.

Mathews brings more than two decades of research strategy and management experience to his new post.

The Woodlands, Texas – Conn’s Inc. managed to beat Wall Street expectations with a 44% net income slide in the first quarter of fiscal 2016. Net income fell to $15.7 million from $28.5 million the same quarter a year earlier, with costs related to store closures, relocations and legal and professional fees contributing.

New York – When it comes to supply chain security, most retailers are diligent about things like locking up warehouses and vehicles. But when it comes to securing technology used to manage supply chain operations, retailer diligence often trails off.

Boca Raton, Fla. - Office Depot Inc. is launching a new free Office Depot app for Apple Watch. Features include: voice-activated search for products, an ink and toner finder, and an Office Depot and OfficeMax retail store locator.

The new app also provides voice-activated product search, ink level checks of Wifi-enabled HP computers, and daily deals.

Fairfax, Va. – The “unnamed strategic bidder” who outbid Hot Topic to purchase Geeknet Inc. has been revealed. GameStop Corp. will acquire all of the outstanding shares of Geeknet’s common stock for $20 per share in cash, or about $140 million.

Strong sales of tobacco products, candy and snacks helped drive Dollar General's same-store sales up nearly 4% in the first quarter as the company celebrates its 12,000th store opening this month.