Tapestry will extend store closures in North America and Europe for an additional two weeks through April 24, in light of continued efforts to slow the transmission of COVID-19. While essentially all company stores in China have re-opened -- across its three brands Coach, Kate Spade and Stuart Weitzman - over the past weeks, Tapestry has been forced to close many other stores in the Asia-Pacific region including all stores in Malaysia, Singapore, Australia, New Zealand and most recently, in some prefectures in Japan.
Likewise, most of the company’s global distribution centers continue to operate, with only one in Malaysia and a third-party facility in New Jersey temporarily closed. As previously announced, employees at closed locations will continue to receive pay and benefits over this period. The company will continue to reassess store closure decisions on a bi-weekly basis and will not reopen stores until safe to do so.
