Financial/Banking

Washington -- The retail industry added 28,000 jobs in June, according to the National Retail Federation. NRF said the industry had marked increases in every sector except furniture and home furnishings and health and personal care stores.


Corte Madera, Calif. -- Restoration Hardware Holdings Inc. said Friday that a group of stockholders will plan to sell up to 10 million shares of the company.

The company registered an offering of up to 10 million shares worth as much as $753.2 million. It did not specify who will sell the shares or when the offering is expected to close.

Restoration Hardware's biggest shareholders are the private equity firms Catterton Partners and Tower Three Partners, followed by Glenhill Capital.
 

NEW YORK — Barnes & Noble CEO and director William Lynch has resigned, effective immediately, and the company has restructured its leadership team as a result. 

MORRIS TOWNSHIP, N.J. — Honeywell chairman and CEO Dave Cote has been named CEO of the Year by Chief Executive Magazine. Cote will be featured on the cover of the magazine’s July issue as well as on ChiefExecutive.net.

The award recognizes the transformation of Honeywell under Cote’s leadership throughout the past decade. During that time, Honeywell has increased sales by 71% to $37.7 billion and has consistently outperformed the S&P 500 during that timeframe.

EAST RUTHERFORD, N.J. — Kid Brands' EVP and COO Kerry Carr is about to take on a third title at the company as its new CFO. The news comes amid the company's announcement that it has sold the Russ and Applause brands to Larsen and Bowman Holdings for $1.25 million.

Carr replaces James Christl, whose resignation for personal reasons from his position as SVP and CFO has been accepted by the company.

Seattle -- TC Global (dba Tully’s Coffee Shops) has announced the completion of the sale of substantially all of its assets to Global Baristas, an investment group led by Patrick Dempsey. Global Baristas bought the assets in an auction in bankruptcy court last January. The company plans to continue to operate Tully’s Coffee Shops and to retain all of the employees.

New York -- Martha Stewart has agreed to reduce her annual base salary by $200,000 to $1.8 million.

Stewart, founder and chairwoman of Martha Stewart Living Omnimedia Inc., also gave the green light to allow the company to reduce her annual licensing fee by $300,000 to $1.7 million, according to a regulatory filing Wednesday.

The cuts, according to company executives, are “consistent with their plan to return ... to profitability.”

MSLO reported a net loss of $3.27 million for the first quarter ended March 31.

James Petty has joined private equity owned Vestis Retail Group as CEO, effective July 8, to drive new growth opportunities.

Petty joins Vestis, parent company of Bob’s Stores and Eastern Mountain Sports, after serving since 2007 as president of retail stores for Carter’s Inc. Petty left Carter’s last December after a restructuring resulted in Carter’s relocating its retail group to its Atlanta headquarters from Connectticut. Prior to Carter’s, Petty held senior roles at Limited Too and Gap, Inc.