Strategy

Dallas -- Alliance Data Systems Corp. said Monday that it has acquired the receivables associated with The Talbots Inc.’s existing private-label credit card file, and will acquire the credit card accounts, pending regulatory approval. The receivables portfolio totals about $145 million.

Alliance Data also said that its Retail Services business will provide private-label credit card services for Talbots, as well.

Delray Beach, Fla. -- Starboard Value disclosed on Monday that it has taken a 13.3% stake in Office Depot. According to a report by Reuters, the activist hedge fund now becomes the office supply retailer’s biggest shareholder.

In a letter to Office Depot CEO Neil Austrian, Starboard CEO Jeffrey Smith called for lowering expenses to improve performance.

Zug, Switzerland -- Swiss drugstore chain Alliance Boots said Monday it has acquired a 12% stake in Chinese pharmaceutical wholesaler Nanjing Pharmaceutical Co. for $88.5 million.

The deal follows Walgreen Co.’s $7 billion investment in Alliance Boots in a move to expand into China.

Alliance Boots runs the largest drugstore chain in the United Kingdom.

Walgreen’s initial plan is to acquire about 45% of Alliance Boots with an option to buy the rest of the company in three years.

Bentonville, Ark. -- Despite its interest in making a New York City debut in a new Brooklyn neighborhood shopping center, Wal-Mart Stores Inc. said Friday it was unable to agree to economic terms for a new store. Instead, developer Related Cos. struck a deal with ShopRite to open a new grocery store at the 630,000-sq.-ft. Gateway II shopping center planned for Brooklyn.

RH is the new name for familiar home goods retailer Restoration Hardware.

The company said the switch to the RH acronym positions the brand to curate a lifestyle beyond the four walls of the home which is reflective of the current positioning and future direction of the luxury home goods brand.

Woonsocket, R.I. -- CVS Caremark said Monday it has named Thomas M. Moriarty as executive VP and general counsel for the company.  

Moriarty most recently served as general counsel at the Celgene Corp., a biopharmaceutical company.

Moriarty succeeds Douglas Sgarro who retired in May after more than 14 years with the company.

Corte Madera, Calif. -- Restoration Hardware announced Monday it has rebranded the company as RH, in a move to better position itself as a multichannel operation.

According to RH creator Gary Friedman: "Today's RH is a far cry from the hardware and nostalgic discovery item based business it once was.  … The new branding positions us for the future and reflects our belief that we can curate a lifestyle beyond the four walls of the home."

San Francisco -- Gap Inc. said Monday it has named Rebekka Bay as creative director and executive VP for Gap Global Design, effective Oct. 1.

Bay is most noted for conceptualizing, developing and launching the COS brand for Hennes & Mauritz. She spent five years as creative director at COS.

Bay will be responsible for Women’s, Men’s, 1969, Accessories and Body lines worldwide.