Sales & Marketing

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.

Minneapolis -- A filing with the Securities and Exchange Commission revealed that Best Buy Inc. CEO Hubert Joly has sold $1.19 million worth of shares of common stock of the company.
 
Joly sold 65,796 shares at a price of $18.02 per share, according to the SEC filing. According to Best Buy, the stock sale was made to cover taxes associated with stock grants.

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.

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.

MEMPHIS — Fred's on Friday launched a holiday layaway plan featuring no fees and a down payment of only $1.

"Fred’s realizes that the current economy presents difficult challenges to its customers and Fred's wants to offer as much assistance as it can," Fred's SVP sales and marketing Dave Mueller said. "That’s why we came up with a layaway plan that — with just one dollar down and absolutely no fees — is unlike any others and will stretch shoppers’ dollars during a time when it will be most welcome."

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.

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.

Former VF Outdoor CFO Dan Templin has joined Eddie Bauer as COO and CFO.

With the addition of Templin, current Eddie Bauer CFO Marv Toland was named to the newly created role of SVP of direct with responsibility for the brand’s e-commerce and catalog businesses.

Eddie Bauer CEO Mike Egeck characterized Templin as a seasoned outdoor industry executive whose responsibilities at VF Outdoor, with leading brands such as The North Face, Vans, JanSport and Timberland, will benefit Eddie Bauer.