Parent of Coach, Kate Spade to review store closings bi-weekly; gives China update
Tapestry will extend its store closures in North America and Europe by two weeks, through April 24, and will continue to pay employees through that time.
The luxury handbags and accessories retailer said it will continue to reassess store closure decisions on a bi-weekly basis.
Tapestry noted that “essentially” all of its stores in China have re-opened and results are “slowly and steadily improving.” Similarly in South Korea, all stores have resumed normal operating hours. Over the past weeks, as determined by local government guidelines and authorities, many other stores have been closed in the Asia Pacific region including all stores in Malaysia, Singapore, Australia, New Zealand and, most recently, in some prefectures in Japan.
Most of Tapestry’s global distribution centers continue to operate with only one in Malaysia and a third party facility in New Jersey temporarily closed, the company said.