Coach parent Tapestry will furlough most North American assistant managers and associates if stores don't reopen by May 30 [MarketWatch]
Tapestry, Inc. (TPR)
Last tapestry, inc. earnings: 4/30 06:45 am
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Source: MarketWatch
Tapestry Inc. , which has been paying its workers despite store closures, says it will have to furlough most of its North American assistant managers and store associates if the company can't reopen its doors by May 30. Salary and benefits for these workers will be extended until that time. On April 25, the company will lay off 2,100 part-time workers across its three brands: Coach, Kate Spade and Stuart Weitzman. These workers will receive a one-time $1,000 payment. Tapestry is halving the salary for its Chief Executive Jide Zeitlin, and the compensation for its board. North American corporate employees will see their pay reduced from 5% to 20% depending on salary level with similar reductions in other parts of the world. Merit salary increases for fiscal 2021 have been eliminated and fiscal 2020 bonuses have been cancelled. The company has also suspended its cash dividend and share repurchase programs. Further staff reductions and other changes are anticipated in the coming months.
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- Tapestry (NYSE:TPR) was given a new $155.00 price target on by analysts at Barclays PLC.MarketBeat
TPR
Earnings
- 11/6/25 - Beat
TPR
Sec Filings
- 12/5/25 - Form 4
- 12/4/25 - Form 144
- 12/2/25 - Form 4
- TPR's page on the SEC website