Shares of Charming Shoppes Inc. rose 3 percent Wednesday after Dorrit Bern resigned as chairman, chief executive officer and president amid a push by activist investors to boost profitability.
Charming Shoppes is the leader in women’s plus-sized apparel, which is the fastest-growing segment of women’s apparel retailing, with 2,400 doors. The demographic trends are in the company’s favor because the number of obese women in the U.S. expected to rise significantly, but the retailer has been struggling with disappointing sales and profit losses for the last two years.
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?"