FINANCE

Alliance Data acquires $145 million in Talbots credit card receivables

BY Katherine Boccaccio

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.

"We look forward to working together with Alliance Data to continue to build long-term customer loyalty and grow the Talbots brand through our Talbots Charge private-label credit card and rewards program," said Mike Archbold, CEO and CFO of Talbots.

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Saks launches AT&T Wi-Fi at all stores

BY Katherine Boccaccio

New York — Saks Inc. said Monday it has launched AT&T Wi-Fi at all 44 retail locations nationwide.

The AT&T Wi-Fi network connects shoppers with mobile tools such as the new Saks Fifth Avenue app, which offers features such as shareable wish lists, fashion look books, event calendars and more. AT&T customers with select Wi-Fi enabled devices will auto-authenticate to the in-store Wi-Fi service, so frequent shoppers will be automatically connected to Saks Fifth Avenue’s Wi-Fi each time they re-visit the store.

Saks Fifth Avenue first launched AT&T Wi-Fi at its flagship store in New York City in November 2011, and has expanded availability to more stores on an ongoing basis. Since the initial launch, Wi-Fi users have made more than five million connections to the in-store network.

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CVS Caremark names executive VP/general counsel

BY Staff Writer

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.

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