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Tapestry, Inc. (NYSE: TPR), a leading New York-based house of modern luxury accessories and lifestyle brands, today announced that Jide Zeitlin, Chairman and Chief Executive Officer, and Joanne Crevoiserat, Chief Financial Officer, will present at the Bernstein Strategic Decisions Conference on Thursday, May 28, 2020 at 4:00 p.m. ET.

Bear of the Day: Boot Barn (BOOT)

Q3 2020 Tapestry Inc Earnings Call

Tapestry (TPR) is constantly assessing the situation and will continue reopening stores.

Shares of several upscale apparel retailers were sliding along with much of the broader market on Wednesday, after Federal Reserve Chairman Jerome Powell shared concerns about the outlook for the U.S. economy in remarks on Wednesday morning. Tapestry (NYSE: TPR) was down 10.9%. Urban Outfitters (NASDAQ: URBN) was down 5.4%.

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TPR earnings call for the period ending March 28, 2020.

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Tapestry Inc. said Thursday it has started to reopen stores in North America, Europe and in additional markets in Asia as government regulations on movement ease. By the end of the week, the company expects to have more than 300 Coach, Kate Spade, and Stuart Weitzman stores in North America offering curbside or store pickup service. About 20 stores in Europe, 35 across Japan, 35 in Malaysia and nearly 30 stores in Australia will be open to customers, while complying with social-distancing and other public-safety practices, the company said in a statement. "The approach to store operations is tailored by market, with stores offering a combination of in-store shopping, curbside and storefront pickup, with varying hours, as conditions allow," said the statement. Workers will wear masks and gloves, where required, cleaning of fitting rooms will be enhanced and all store employees will have temperature and wellness checks on arrival. Tapestry shares were not yet active premarket, but have fallen 56% in the year to date, while the S&P 500 has fallen 13%.

Sprouts Farmers, Tapestry, Chegg, Netflix and Zoom as Zacks Bull and Bear of the Day

Tapestry, Inc. (NYSE: TPR), a leading New York-based house of modern luxury accessories and lifestyle brands, today provided further details on the actions it’s taking across multiple aspects of its brands and business to help assure that Tapestry emerges a strong company when conditions normalize.

Alibaba Group Holding Ltd. has launched Luxury Soho, a platform aimed at Gen Z and younger shoppers from lower-tier cities in China. Alibaba notes the growing number of tech savvy luxury consumers born after 1995. The platform also offers brands the opportunity to customize their presence on the site. Tapestry Inc.'s Coach brand is an example of the kinds of labels Christina Fontana, head of Tmall fashion and luxury in Europe, thinks would be appropriate for this e-commerce channel. "There will be more flexibility in how people shop for luxury items and how brands handle off-season or excess products," she said in an interview posted on the Alibaba website. She also says the coronavirus pandemic is shifting more brands to e-commerce from stores, where many luxury names have traditionally sold their goods. Alibaba stock is up 7.6% for the past year while the S&P 500 index is up 0.2% for the period.

Using recent actions and grades from TheStreet's Quant Ratings and layering on technical analysis of the charts of those stocks, Trifecta Stocks identifies five names each week that look bearish. While we will not be weighing in with fundamental analysis we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names. Owens Corning Inc. recently was downgraded to Sell with a D+ rating by TheStreet's Quant Ratings.

The company, whose handbags have won it a place among the big names of the fashion world, is just one of a raft of major U.S. retailers seeking to lower rent bills to make sure they have enough cash to weather the COVID-19 pandemic. Mall operators collected only 15% of April rent and trends are looking worse for May, according to CenterSquare Investment Management, which specializes in real estate. After a decade of change that has shaken up the U.S. retail landscape and driven some out of business, Zeitlin says mall rents need to fall anyway for retailers' brick-and-mortar strategies to make sense.

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Bear of the Day: Tapestry (TPR)