• Tapestry extends store closures, suspends dividend and share repurchase

    9 days ago - By Fashion United

    Tapestry, Inc., owner of Coach, Kate Spade and Stuart Weitzman brands, has decided to extend store closures in North America and Europe for an additional two weeks through April 10, 2020. The company has announced that it will be donating 15,000 masks to hospitals in the US, the UK and Spain, with additional masks expected to be delivered in April. The company is also suspending its quarterly cash dividend beginning in the fourth quarter of fiscal 2020 and its share repurchase program.
    “In this period of unprecedented volatility, we are focused on our stakeholders, including our employees...
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  • Tailored Brands furloughs all US store employees

    9 days ago - By Fashion United

    Tailored Brands, Inc. has decided to extend the temporary closure of its retail stores until at least May 4, 2020. In conjunction with the decision to extend the store closure window, Tailored Brands announced it would implement additional cost reductions, including furloughing all U.S. store employees as well as a significant portion of employees in its distribution network and offices.
    Commenting on the measures taken by the company, Tailored Brands President and CEO Dinesh Lathi said in a statement: “It was a very difficult decision to furlough employees and one that we did not take...
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