hope realities COVID-XX. office true No our first thank for Brooklyn. the joining a daily this exempt the home Sadly one earnings my of be taking XXX you, of you Andrea last living in year and are through is call. Good I’ll from morning. call is all us Thank from and everyone I storm.
thanks fight on individuals front-line the the out Our go pandemic. of this against to courageous
This are loss crisis nearly and hearts Our years we earnings ravages. way the impacted are manage it quarterly live our results. reported as lives This a our quarter profoundly we has adjusted first business. in the morning, our XX public company. by with those fiscal third These affected our
We entered strong the underlying most a Coach calendar with brand. momentum, year the with notably
results As America, maturely weakened. we again hope the China globe, Korea Asia be Europe, results pandemics North region, to Mainland mid-March South as novel the numerous a damage coronavirus in across expanded countries and country one and our deteriorated the limited or across would especially By recovering. Initially, Pacific.
experienced our We operating or have an never was two. fleet when that -shortened hours. impact beyond of a clear have a either the before crisis It’s time closed thing or quarter will XX% last store
sales impact the to store to mitigate leverage business that We’re taking requires brick-and-mortar expenses. steps growth a on
elements and of As ahead the Korea, through shortly. China areas: of key on communities; well-being preserving driving you growth our Joanne our revenue, in we look we’re store our take flexibility, enhancing while Protecting four reopening; and accelerating will our for health focusing and people, efforts which key revenue preparing financial South and digital consumers, and our liquidity agenda; multi-year and
North We our reopened close stores our China, community, people, today to Mainland swiftly prioritized it by ago, where we our our while continued to in corporate their three was We’ve and do guided and values, so. to have months First, remote Europe. acted working moving environment, and pay initially our to our provide families, retail in Nearly to our we America, benefits in staff customers. safe associates, China.
of day. around safety we’ve show dedication the from supporting initiatives around gratitude philanthropic every incredibly PPE. our through brand the and enhanced and my health donations to and operational, express While for proud precautions, they our foundations we’re want and distribution specific world teams communities and our spirit our I instituted remained am centers local
we’ve Second, strong. we actions storm to revenues weather here We’ve and seen are and will green the drive the stores. taken emerge and are confident reopen
During vast majority closed. stores levels. XX% the I the of on last year our lagged Mainland open were noted call, or earnings that China were traffic our although stores of mid-March, Mainland By ago
and travel some disparities all the Over preponderance the our we’ve sales of opened within European of seen in-part significant the counter We’ve in sales the consumer historically occurred last build domestic led globally brick-and-mortar have weeks, country, six China. Chinese also restrictions. stores remaining Unlike we’ve retail. by impacted parts, our to seen by
encouraging, of repatriation growth While outsized we’re are are experiencing domestic tourist spending. the not sales driven by
America, In dynamics stores world. business, Korea of we and in these under South lessons hours. All are which China, informing from addition Chinese our in start We to operating are the South learned recovering. rest Europe, in our our in Korea North important to actions back the the normal as on revenues lights globally are turn
based stores where reopening requirements in federal, different countries on or We’re operate. province state, the we municipal
these making basis. location on We’re by decisions location a carefully
protecting safety of gloves appropriate, book offering stores other availability use sanitizers measures. the Our of fitting customer densities, and and of at signage rooms, distancing and payment focused consumers and requirements, where wipes and and of is on warps, the masks cleaning highlights that the cash reopening maximum the health of including our contactless enforcements and play social associates,
In future. in that Customers brought the up will well or pick front accordance orders guidelines, only to We plan I’m at curbside mall on front in configurations. and stores the reopen or with tomorrow pleased have contactless we North approximately place the depending retail store service to the ability America service. store offer stores this additional these stores to XX in and phone some announce have orders to as for curbside them will over to online
in we’ve as locations Australia. of Austria, as Germany dozen well in As today, and a reopened five
in it. our consumer We we shifted stores surprisingly a in consumer the majority into important are was presence Moving closed. our to Responding leaned this from to focus physical brick-and-mortar where today. ecommerce and digital, spot is quarter marketing particularly channels of bright investment where shops our not strengthen our digitally world a and
pre-COVID Tapestry’s XX% Roughly significant of Leaning element accelerates critical online. is this as into digital our a agenda. secular trend centric customer opportunity sales generated and a of growth were
with interruption. China centers Our key servicing We chain This operating is issues. material global increasing supply little distribution no related to are ecommerce demand. had
Europe. there We manufacture geographically Asia base. have Subsequent in and sourcing more across to a limited manufacturing disruptions product were China and diversified and quarter-end
we However, of supply worked material balance providers service actively raw levels and our demand. to with successfully changing and
Spain. partners Italy, in including We reopened, in have are and of that pleased tanneries Europe our makers most in footwear
shipping, and in are order. trucking, airfreight Our good distribution including and logistics operations,
more and are will acting already onset us, but different prior data driving be on work outsized organization. we’re track the We digital to know behaviors the accelerating. Consumer how other creating to streamlined on work side. decisively not fast focused Importantly, secular are and in changing will the underway of a do driven long world COVID-XX this impact growth pandemic trends and
one most online exploration, digital trends earlier, with engagement is the mentioned and consumer consumer increasing important As of purchasing.
they meet We accelerating. to form consumer’s shopping be to We’re to shift advancing of respond our able desires. is better experiences their must where digital brick-and-mortar travelling. The are needs and understanding consumers digital to
Growth we have with [Physical our they but expressing acknowledge stores] experience we in role represents a prefer digital and will to versus a always when shift. play consumer will their digital consumers share expect shop greater the brands, vital move the in to parody. towards this
make post example, lower with levels China. enabling scrutinizing COVIDIAN what also carefully be distribution in for and substantial could brick-and-mortar stores our reopen This means traffic extending Successful in For network models this platforms. partnership investments normalize means levels. business will Tmall future as our the and
We is is Listening job operating model to one. are the also consumer culture. our leveraging Being proactively rigorous reimaging data foreign make to and decisions critical. about
growth excellence Joanne, our and and areas. Before our about is rightsizing through in meeting shopping values. engaging, Digital, improved sheet is management. than each their have with to turning consumer a and platform. more specific with I’ll SG&A with, the briefly as to empowering our engagement, cost It’s Starting which brands. Digital China, and operational discussed, structure of we three strategies connecting achieved focus on describe Coach, accelerating balance
China appetite luxury. their opportunity. Coach’s growth in proving and continued resilience fashion are geographic represents Chinese largest customers for
enable rapid of Chinese momentum to growth the middle and Our will the us brand strong benefit from class. positioning
engaged, on way social associates increased official their through have media stream Coach interaction engaging Coach consumers business. as an platforms by that important highly social Chinese with such store digital as media WeChat. sessions Already sites, to drive of digitally proved as live hundreds well conducted
long-term. efficiencies both in are near and improving the Finally, focused operational we on
First, we productivity higher threshold. individual store assessing are fleet stores holding to and a our global
chain reducing improving Second, efficiencies SKU we’re significantly with of materially and the objective assortment supply inventory turns. our
the in engaged experience brand At the spirit corporate business reconnect is mission on is while levels. culture Third, she we’re every customer unique focused the fully [indiscernible] best-in-class substantially our Kate and and core payroll, aspect to reducing brand, with strategy centricity. and with brand Spade, service of of the maintaining
On and values. playfulness great and of team more to the role putting level, pragmatism, her. color community brand's two serve and Understanding the tension customer. between novelty better consumer to remains thoroughly in The also the the while the teamwork central, of order and product balance important emphasis engage healthy the defining redefine and is on
approaches, closed, engagement. some result, marketing largely driven e-commerce As And well shopping success. the as in brand with out the Zoom digital parties increases of and weeks, recent as business, retail customers a is stores media have finding reached the testing so social team begun major has in remained the new effectiveness has in notable personally those
to Weitzman. Turning Stuart
disappointed the related potential focus long-term performance to sustainable in While in remain and on are brand's charge, the the growth. and profitable recent it we returning we confident brand's impairment our
by the creating a Giorgio position sandal a first, in executing boot, espadrille, assortment and of number focused including: that sensibility, fashion the key Our led features teams are categories. leadership initiatives, brand's and Sarné
platforms example, just ties. new Spanish to a and an the our our As launched [indiscernible] brand family, we espadrille node recently
online performance. We with are the pleased early
in Second, store openings through China and driving strategic marketing investment. growth
and the brand's increase and expanding that experience pick omni-channel and digital discovery us capabilities increase customer up will third, browsing conversion online examples key at and and include innovative personalization. to to segmenting targeting efficient customer enable functionality, And capabilities, in-store more buy
In of one XXX summary, year this no effects to the immune is storm.
to normalize. We’re company strong conditions taking aggressive when emerges actions that Tapestry a show
Most have challenges chain we with multichannel powerful macroeconomic sheet, a distribution benefit diversified. and from importantly, deep a long is our have a global wholesale brands and of modest, to and supply successfully history consumer is our strong shocks. we exposure balance navigating international We connections, model,
COVID-XX review turn actions Joanne? With Joanne financial the brief the that, for the and to to of mitigate quarter crisis. let’s taken a impact the of we’ve
