Seeking to reassure investors, Talbots Inc. said it is on track to meet its goals this year and has sufficient funding.
Two days after the disclosure that Bank of America and HSBC were pulling lines of credit, chief executive officer Trudy Sullivan said during a conference call to Wall Street on Friday that the Hingham, Mass.-based specialty retailer is on track to achieve its strategic plan. She said a total of $165 million in lines of credit would be enough to fund working capital requirements.
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?"