Restoration Hardware rebrands as RH
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."
The new branding, a collaboration between Marc Shillum, principal at Method, designer Robert Valentine and Friedman, will debut on the cover of the company’s fall 2012 catalogs and on its website.
Best Buy CEO sells $1.19 million of stock
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.
Alliance Data acquires $145 million in Talbots credit card receivables
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.