Tapestry, Inc.’s Response to COVID-19
17 Marzo 2020 - 8:30AM
Business Wire
Company to Temporarily Close all Coach, Kate
Spade and Stuart Weitzman Stores in North America and
Europe
Tapestry, Inc. (NYSE:TPR), a leading New York-based house of
modern luxury accessories and lifestyle brands, announced that
effective at close of business today, it will temporarily close all
directly operated Coach, Kate Spade and Stuart Weitzman stores in
North America and Europe to help reduce the spread of COVID-19.
Stores will be closed through March 27th, at which time the Company
will determine the appropriate next steps in light of the
environment. Employees at these locations will continue to receive
scheduled pay and benefits during this temporary closure period. In
addition, across all regions, brands will continue to engage with
customers through online stores, which remain fully operational,
and social media.
Jide Zeitlin, Chairman and Chief Executive Officer of Tapestry,
Inc., said, “We are closely monitoring the situation and taking the
appropriate actions to protect the safety of our employees,
customers and communities. I want to recognize the incredible work
our teams in Asia generally and China specifically have done to
successfully navigate the crisis. They acted swiftly and decisively
and serve as an inspiration to our entire organization. While these
are unprecedented times, I am confident the Tapestry team has come
together to meet the challenge. Our commitment to our values and to
each other is unwavering, and I am proud to lead our resilient
group of more than 21,000 colleagues around the world.”
Tapestry’s adjusted fiscal 2020 guidance, as provided in its
earnings press release dated February 6, 2020, did not incorporate
a negative impact from the coronavirus outbreak beyond China. While
the majority of stores in China have now reopened, there have been
additional closures in Asia as well as ongoing traffic challenges
throughout the region, which will likely continue for some time.
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.
Tapestry, Inc. is a New York-based house of modern luxury
lifestyle brands. The Company’s portfolio includes Coach, Kate
Spade and Stuart Weitzman. Our Company and our brands are founded
upon a creative and consumer-led view of luxury that stands for
inclusivity and approachability. Each of our brands are unique and
independent, while sharing a commitment to innovation and
authenticity defined by distinctive products and differentiated
customer experiences across channels and geographies. To learn more
about Tapestry, please visit www.tapestry.com. The Company’s common
stock is traded on the New York Stock Exchange under the symbol
TPR.
This information to be made available in this press release may
contain forward-looking statements based on management's current
expectations. Forward-looking statements include, but are not
limited to, statements regarding the Company’s fiscal 2020 guidance
and the statements that can be identified by the use of
forward-looking terminology such as "may," "will," “can,” "should,"
“confident,” “future,” "expect," "intend," "estimate," "continue,"
"project," "guidance," "forecast," “outlook,” “believe,”
"anticipate," “excited about,” “moving,” “leveraging,”
“capitalizing,” “developing,” “drive,” “targeting,” “assume,”
“plan,” “build,” “pursue,” “maintain,” “on track,” “well positioned
to,” “commit,” “look forward to,” “to acquire,” “achieve,”
“strategic vision,” “growth opportunities” or comparable terms.
Future results may differ materially from management's current
expectations, based upon a number of important factors, including
risks and uncertainties such as expected economic trends, the
ability to anticipate consumer preferences, the ability to control
costs and successfully execute our transformation and operational
efficiency initiatives and growth strategies and our ability to
achieve intended benefits, cost savings and synergies from
acquisitions, the risk of cybersecurity threats and privacy or data
security breaches, the impact of tax legislation, the impact of the
coronavirus outbreak, etc. Please refer to the Company’s latest
Annual Report on Form 10-K, Quarterly Report on Form 10-Q and its
other filings with the Securities and Exchange Commission for a
complete list of risks and important factors. The Company assumes
no obligation to revise or update any such forward-looking
statements for any reason, except as required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200317005524/en/
Tapestry, Inc. Analysts & Media: Andrea Shaw Resnick Global
Head of Investor Relations and Corporate Communications
212/629-2618 aresnick@tapestry.com Christina Colone Vice President,
Investor Relations 212/946-7252 ccolone@tapestry.com
Tapestry (NYSE:TPR)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024
Tapestry (NYSE:TPR)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024