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Tag: outbreak

Tapestry names new CEO for Kate Spade; cuts guidance on coronavirus outbreak

Coach parent Tapestry reported second-quarter earnings and sales that topped analysts’ expectations but warned of headwinds in Asia, including the coronavirus outbreak in China. Tapestry also made several C-suite appointments, including the appointment of Liz Fraser as CEO and president of Kate Spade, effective March 1. She will take over control of the struggling brand …

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IKEA to close half its stores in China over virus outbreak

Swedish furniture giant IKEA said Wednesday it had temporarily closed half of its 30 stores in mainland China until further notice amid concerns over the deadly new coronavirus. “In response to the Chinese government”s call for strict and effective disease control, IKEA Retail China will temporarily close around half of the stores in mainland China …

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Starbucks’ strong Q1 overshadowed as it sounds warning on coronavirus outbreak

Starbucks has temporarily shuttered more than half of its stores in China in response to the coronavirus.  On its quarterly earnings call with analysts, Starbucks executives warned that the viral outbreak could “materially affect” its fiscal 2020 results. Starbucks had 4,292 stores in China at the end of last year. The country is the chain’s …

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US companies suspend operations, restrict travel as outbreak spreads

Visitors wearing masks walk past Shanghai Disney Resort, that will be closed during the Chinese Lunar New Year holiday following the outbreak of a new coronavirus, in Shanghai, China January 24, 2020. Aly Song | Reuters Disney, McDonald’s, Starbucks and other U.S. companies with significant footprints in China are suspending operations and instituting travel restrictions …

US companies suspend operations, restrict travel as outbreak spreadsRead More