Coach and Kate Spade brands parent Tapestry Inc. /zigman2/quotes/207417762/composite TPR +0.56% said Friday that it will extend store closures in North America and Europe by two weeks through April 24 as a result of the COVID-19 pandemic. The luxury retailer, which brands also includes Stuart Weitzman, said it will assess store closure decisions every two weeks. The company said employees at closed stores will receive pay and benefits. In China, Tapestry said "essentially all" of its stores have re-opened, with results "slowly and steadily" improving, while in South Korea, all store have resumed normal operating hours. The company said most distribution stores remain open, with only one in Malaysia and a third-party facility in New Jersey closed temporarily. Tapestry will provide a financial update on the impacts of the COVID-19 pandemic when it reports fiscal third-quarter results on April 30. The stock has tumbled 42.8% over the past three months, while the SPDR S&P Retail ETF /zigman2/quotes/206947004/composite XRT +1.40% has lost 25.6% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.18% has declined 14.6%.