FINANCE

Staples and Parago partner for incentives and rebates

BY Jennifer Mosscrop

Lewisville, Texas Parago said Thursday that Staples has extended its relationship with the rewards solution-provider, naming Parago as its primary incentives partner.

Staples and Parago have been working together for more than 10 years, developing, driving and delivering rebate programs. The Easy Rebate program enables customers access to deals, with paperless submission, choice of rewards and quick payment.

“Staples’ drive for the best customer experience and Parago’s innovative technology and delivery have been a great combination, and one that we are excited to continue,” said Mike DeSanto, senior VP sales & operations, Staples, Framingham, Mass. “We are very proud of our Easy Rebates program for making it easy for our customers and look forward to continuing to grow and enhance the program with Parago.”

Staples and Parago introduced an aggregated vendor-managed program in 2000 followed by an integrated online rebate center in 2002, enabling customers to find and track their rebate submission online. In 2004, Staples took a leap forward, delivering completely paperless rebate submissions called Easy Rebate.

In 2009, Staples began delivering rebate rewards on Parago’s open loop prepaid cards — making reward funds available for immediate use and skipping the trip to the bank for consumers. Most recently, Staples launched with Parago’s patented ClickChoice, allowing customers to choose their reward from open loop prepaid card, Staples gift card and check and, soon, PayPal for selected programs.

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Holley named Walmart CFO

BY CSA STAFF

BENTONVILLE, Ark. – Veteran finance executive Charles Holley was named to replace Tom Schoewe as CFO of Wal-Mart Stores Inc., the company announced late Wednesday. Holley joined Walmart in 1994 and most recently served as EVP finance and treasurer. Schoewe joined Walmart in 2000 as CFO.

Walmart CEO Mike Duke called Holley a talented strategist who thoroughly understands the details of Walmart’s business and the financial markets.

“As treasurer, he has helped drive the strategy behind the company’s strong financial position and has made every organization he has led stronger,” Duke said.

The change will take effect on Nov. 30, and Schoewe will remain with the company until Jan. 31, 2011.

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Beyonce’s mom gets exclusive line at Walmart

BY CSA STAFF

NEW YORK – Tina Knowles announced the introduction of her Miss Tina by Tina Knowles line exclusively at Walmart in October.

The collection will feature denim, graphic t-shirts, embellished tops, day dresses, tunics, jackets, leggings and track suits, with each item retailing for $20 or less.

Tina Knowles is the co-creative director and co-founder of the House of Dereon, Dereon, and Miss Tina fashion collections produced by Beyond Productions, a partnership with daughter Beyonce.

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