“Today is an exciting and historic day,” said William L. McComb, chairman and chief executive officer of Fifth & Pacific Cos., who presided over the company’s first annual meeting under its new name.
Fifth & Pacific, formerly Liz Claiborne Inc., started trading Tuesday on the New York Stock Exchange under the symbol FNP. Speaking to the 50 shareholders gathered at corporate headquarters in North Bergen, N.J., McComb called FNP a “growth-oriented company” with a solid balance sheet that is focused on three core brands — Kate Spade, Juicy Couture and Lucky Brand. On its first day of trading as FNP, the stock closed at $12.98, down 2 cents or 0.2 percent from Monday’s close.
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?"