NEW YORK — Shares of Fifth & Pacific Cos. Inc. rose 12 percent on the New York Stock Exchange on Tuesday after the company posted gains in both net sales and net income for the fourth quarter and swung to the black for the full year.
For the three months ended Dec. 31, the company said net income more than tripled from a year ago to $185.2 million, or $1.48 a diluted share, from $57 million, or 47 cents. Net sales rose 22.3 percent to $426.9 million from $349.1 million.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"