FINANCE

Wal-Mart launches money transfer service between stores

BY Dan Berthiaume

Bentonville, Ark. – Wal-Mart Stores Inc. is launching a new store-to-store money transfer service that will put it in competition with Western Union and other companies. Called Walmart-2-Walmart, the new service will be operated by Ria Financial Services, a subsidiary of electronic payments company Euronet. It will start on April 24 and allow customers to transfer money to and from more than 4,000 Walmart stores nationwide for what the retailer says is up to 50% less than similar offerings on the market.

Walmart-2-Walmart offers a fee structure with two pricing tiers: customers can transfer up to $50 for $4.50 and up to $900 for $9.50. Walmart-2-Walmart leverages the retailer’s existing footprint and technology, and is powered by Ria, the licensed money transfer operator for all Walmart-2-Walmart transactions. Walmart acts as the authorized agent of Ria.

“After listening to our customers complain about the high fees and confusion associated with transferring money, we knew there had to be a solution,” said Daniel Eckert, senior VP of services for Wal-Mart U.S. “Walmart-2-Walmart brings new competition and transparent, everyday low prices to a market that has become complicated and costly for our customers. We’re doing what we do best – launching a new service that challenges the status quo and drives down prices for our customers.”

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OPERATIONS

Report: Target increases online subscription assortment

BY Dan Berthiaume

Minneapolis – Target has increased the number of goods it offers for sale via online subscription by adding more than 1,600 items, according to the Associated Press. The chain started the service last fall, by offering some 150 baby products for delivery.

In addition to adding more items, Target is expanding the assortment to include a wider range of goods,
Target’s subscription plan is free and provides deliveries in four-, six-, eight-, 10- and 12-week installments. The retailer is primarily trying to compete with similar Amazon.com programs such as Subscribe and Save and Amazon Prime.

Target executives said subscription sales of baby items, introduced in fall 2013, now account for about 15% of the retailer’s online sales.

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OPERATIONS

Urban Outfitters names former J. Crew exec as president of namesake brand

BY Dan Berthiaume

Philadelphia — Urban Outfitters Inc. has appointed Trish Donnelly to the role of president of Urban Outfitters brand, North America, effective July 14. She will report directly to Ted Marlow, CEO, Urban Outfitters Group.

Donnelly joins Urban Outfitters from Steven Alan, where she has served as president for almost three years. Prior to joining Steven Alan, she spent more than seven years at J. Crew as the executive VP of J. Crew Direct. Donnelly began her retail career with Ralph Lauren, where she spent 12 years immersed within the merchandising organization.

"It is with great pleasure that Ted and I welcome Trish to the Urban Outfitters brand," said Richard A. Hayne, CEO. “Trish is a strong leader who brings with her a deep understanding of the direct-to-consumer channel as well as an extensive background in merchandising. We are delighted to have Trish join our executive team and believe she will play an instrumental role in the Urban brand’s ongoing growth story.”

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