March 16, 2020 / 11:16 AM / 20 days ago

BRIEF-Vf Corporation Provides Update On Global Business Impact Of Covid-19

March 16 (Reuters) - VF Corp:

* VF CORPORATION PROVIDES UPDATE ON GLOBAL BUSINESS IMPACT OF COVID-19

* VF CORP - ANNOUNCED TEMPORARY CLOSURE OF ALL OWNED RETAIL STORES ACROSS NORTH AMERICA, EFFECTIVE MARCH 16 THROUGH APRIL 5

* VF CORP - ALL RETAIL EMPLOYEES AT THESE LOCATIONS WILL CONTINUE TO RECEIVE FULL PAY AND BENEFITS DURING TEMPORARY CLOSURE PERIOD

* VF CORP - CLOSED ITS CORPORATE AND BRAND OFFICES IN NORTH AMERICA UNTIL APRIL 5 AND IS ENABLING ALL OFFICE EMPLOYEES TO WORK REMOTELY

* VF CORP - TEMPORARY CLOSURE OF BOTH OFFICES AND RETAIL LOCATIONS MAY BE EXTENDED DEPENDING ON OVERALL STATE OF COVID-19 SITUATION

* VF CORP - WILL PROVIDE AN UPDATE AS TO OPERATIONAL AND FINANCIAL IMPACTS OF CORONAVIRUS DURING CO’S Q4 FISCAL 2020 CONFERENCE CALL IN MAY 2020

* VF CORP - VF’S SUPPLY CHAIN OPERATIONS HAVE EXPERIENCED LIMITED DISRUPTION TO DATE AS A RESULT OF COVID-19 SITUATION

* VF CORP - ACTIONS IN NORTH AMERICA ARE CONSISTENT WITH SIMILAR OPERATIONAL DECISIONS MADE IN ITS EMEA AND ASIA PACIFIC REGIONS

* VF CORP - VF’S OFFICES AND RETAIL LOCATIONS IN SOUTH KOREA, JAPAN, HONG KONG AND TAIWAN REMAIN OPEN, BUT OFFICE EMPLOYEES ARE WORKING REMOTELY

* VF CORP - IN MAINLAND EUROPE, VF HAS CLOSED ALL OFFICES AND RETAIL STORE LOCATIONS UNTIL FURTHER NOTICE

* VF CORP - LOCATIONS IN UNITED KINGDOM ARE CURRENTLY OPERATING ON REDUCED HOURS.

* VF CORP - CURRENTLY, CO’S OFFICES IN GREATER CHINA ARE OPEN AND ABOUT 90 PERCENT OF RETAIL STORE LOCATIONS ARE NOW OPEN FOR BUSINESS

* VF - AS STATED IN VF’S NEWS RELEASE DATED FEB 7, CORONAVIRUS OUTBREAK WAS NOT CONTEMPLATED AT TIME VF PROVIDED ADJUSTED 2020 OUTLOOK ON JAN 23

* VF CORP - DISTRIBUTION AND FULFILLMENT CENTERS AROUND WORLD REMAIN OPERATIONAL

* VF CORP - WHILE RETAIL STORE TRAFFIC IN GREATER CHINA HAS STEADILY IMPROVED OVER PAST MONTH, IT REMAINS DOWN SIGNIFICANTLY COMPARED WITH PRIOR YEAR

* VF CORP - NOT POSSIBLE TO GAUGE FULL IMPACT TO VF’S SUPPLY CHAIN AT THIS TIME FROM COVID-19 SITUATION

* VF CORP - RETAIL STORE LOCATIONS ARE OPERATING ON REDUCED HOURS IN SOME CASES IN SOUTH KOREA, JAPAN, HONG KONG AND TAIWAN

* VF CORP - ONGOING DIVERSIFICATION EFFORTS ARE UNDERWAY IN AN ATTEMPT TO MITIGATE POTENTIAL FUTURE DISRUPTION FROM COVID-19 SITUATION

* VF CORP - ONGOING DIVERSIFICATION EFFORTS INCLUDE RE-DIRECTING MANUFACTURING AND MATERIALS SOURCING Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below