Tapestry Extends Store Closures In US And Europe Through April 24

(RTTNews) - Tapestry Inc. (TPR) Friday announced that it will extend its store closures across North America and Europe. However, the company said its operations in the China are back up and running.

The New York-based luxury lifestyle company said its store closures in North America and Europe will be extended for an additional two weeks through April 24th.

As previously announced, employees at closed locations will continue to receive pay and benefits over this period. The company added that it will continue to reassess store closure decisions on a bi-weekly basis and will not reopen stores until safe to do so.

Tapestry, whose brand includes Coach, Kate Spade and Stuart Weitzman, also said that all stores in South Korea have resumed normal operating hours.

Meanwhile, Tapestry customers can continue to shop through its e-commerce platforms across all brands and regions, and at store locations in the Asia Pacific region that remain open.

The company will provide an update on the operational and financial impacts of the coronavirus outbreak on its global business during its third quarter fiscal 2020 conference call scheduled for April 30, 2020.