PVH Corp. is the latest company to temporarily close stores as fears of the novel coronavirus escalate.
The corporation, which parents Tommy Hilfiger, Calvin Klein and Speedo, among others, announced today that it will shutter all retail locations in North America and Europe from March 17 through March 29. PVH Corp. will fully compensate retail associates for their scheduled shifts while its doors are shut.
“We know many people — our associates, consumers, partners and communities — are feeling uncertain as we deal with the coronavirus pandemic. Health and safety remain our top priorities,” PVH Corp. chairman and CEO Manny Chirico said in a statement. “This is an unprecedented and rapidly changing situation to which we will need to continue to adapt. We want to thank everyone in our organization, as well as our partners, for their dedication to our business and the support they’re providing to each other as we all rally together during this time. We’re confident that together we will show our resilience and bounce back.”
PVH Corp. joins a long list of companies to temporarily shutter U.S. outposts in recent days amid the coronavirus outbreak. Urban Outfitters has closed its flagship stores as well as Anthropologie and Free People doors until further notice, while Abercrombie & Fitch has shut down all stores outside of the Asia-Pacific region for the time being. Several major sneaker labels have closed their entire U.S. fleets for now, including Nike, Under Armour, New Balance and Vans.
PVH Corp. offices remain open, but the company says the majority of its employees are working remotely across North America and Europe. As North American and European stores temporarily shut down, the company has reopened many of its stores in the Asia-Pacific region — as well as its offices in Greater China, where the outbreak originated in late 2019.
However, PVH Corp. warned that retail traffic in APAC “remains down significantly” when compared with the same period last year. It will provide an update on the financial impacts of COVID-19 during its fourth-quarter earnings call on April 2.
According to Johns Hopkins University, as if Monday there were more than 178,500 confirmed cases of the coronavirus worldwide, with over 7,000 deaths. In the U.S., more than 4,000 people have been infected with the virus, which causes the disease COVID-19, and more than 60 fatalities have been recorded.
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