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Report: Tower Three divests remaining stake in Restoration Hardware
New York -- A report by Wall Street Journal revealed that private equity investor Tower Three Partners will sell its final 3.9 million shares in Restoration Hardware Holdings, marking an exit for the buyout firms that acquired the home furnishings retailer in 2008.
Restoration Hardware’s private-equity backers have been cashing out amid a 90% rally in the stock this year, according to the report.
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IBM: Mobile sales up 60% in Q3
New York -- Online mobile sales were strong in the third quarter as mobile percentage of online sales increased more than 60% year-over-year. Led by strong gains in home goods and department store, mobile traffic for U. S. retail overall reached almost 32% in the quarter, up more than 50% while online retail sales overall grew close to 10%.