Oxford Industries, Inc. Provides COVID-19 Update: Temporary Closure Of All Owned Retail Stores And Restaurants In North America

ATLANTA — March 16, 2020 — Oxford Industries Inc. — which owns and markets the distinctive Tommy Bahama®, Lilly Pulitzer® and Southern Tide® lifestyle brands — in response to the global COVID-19 outbreak, today announced the temporary closure of all owned retail stores and restaurants in North America, effective March 17 through March 30. The company will continue to pay its retail and restaurant associates during this time. In addition, the company has broadly implemented a strategy for associates in its corporate and brand offices to work remotely. Tommy Bahama, Lilly Pulitzer and Southern Tide’s e-commerce websites remain open for business.

“Our priority is and will continue to be the health and well-being of our employees, customers and the communities in which we live and work,” commented Thomas C. Chubb III, chairman and CEO. “Our businesses are well-prepared and able to execute changes as needed. We are highly confident that Oxford has the financial strength and flexibility to navigate these unprecedented events.”

Posted March 16, 2020

Source: Oxford Industries Inc.

Material Hardness Testing Provides Industry With Answers To Product Development, Quality Control, Failure Analysis And Other Critical Questions

SALEM, NH — March 16, 2020 — Material hardness is a critical measurement for both product durability and functionality. It is a characteristic that can be measured by a material’s resistance to localized deformation caused by abrasion or mechanical indentation.

There are various forms of hardness testing, including rebound hardness, indentation hardness and scratch hardness. Rebound hardness (dynamic hardness) testing measures hardness related to material elasticity. Indentation hardness testing measures resistance to material deformation caused by constant compression and scratch hardness testing measures friction on a material and how resistant it is to permanent deformation or fracturing.

Leading providers of hardness and micro-hardness testing are the scientists and engineers at Advanced MicroAnalytical. Advanced MicroAnalytical’s material testing laboratory offers industry and research institutions answers regarding material hardness on a variety of materials and scale of materials. Bulk material techniques include Knoop, Vickers and Rockwell hardness test methods to nanoscale indentation techniques with scanning electron microscope (SEM) imaging.

Advanced MicroAnalytical has a long history of assisting with research and development, as well as quality control, production and failure analysis, in determining material hardness and other testing services for bulk metals, ceramics, polymers and composites on devices ranging from printed circuit boards and mems devices to countless other materials and applications. For determining material characteristics to functionality, Advanced MicroAnalytical provides the scientific solution.

To learn more about how hardness measurements provided by Advanced MicroAnalytical can impact material, production, QC, R&D and failure analysis projects, please visit  www.AdvancedMicroAnalytical.com

Posted March 16, 2020

Source: Advanced MicroAnalytical

lululemon athletica Provides Business Update On COVID-19: Temporary Closure Of All Stores In North America And Europe

VANCOUVER, British Columbia — March 15, 2020 — lululemon today provided an update on its global store operations in response to the continued spread of COVID-19.

In light of the rapidly changing developments, lululemon announced the closure of all stores in North America and Europe, from March 16 through March 27. Guests can continue to shop on lululemon.com.

“We are living in uncertain times and we’re learning more about this virus every day. We are taking this step to help protect our global community, guests and people, and ensure we are doing our part to prevent the spread of COVID-19,” said Calvin McDonald, CEO.

“During this time, lululemon employees will continue to receive pay for all hours they have been scheduled to work and have access to lululemon’s Global Pay Relief plan. I’m proud of how our teams are working to create space for our guests to connect through yoga and meditation classes online,” McDonald added.

The company will provide an update regarding the impacts of COVID-19 during its fourth quarter fiscal 2019 earnings call, to be held on March 26.

Posted March 16, 2020

Source: lululemon athletica inc.

Columbia Sportswear Co. Provides Update on COVID-19 North America Store Impacts

PORTLAND, Ore. — March 15, 2020 — Columbia Sportswear Co. — a global designer, sourcer, marketer and distributor of outdoor, active and everyday lifestyle apparel, footwear, accessories, and equipment products — today announced that to protect the health and safety of its employees, consumers and the communities where it operates, it will close its North America brick and mortar retail stores on Monday, March 16. Columbia expects these stores to remain closed through Friday, March 27.

Consumers seeking the products of the Columbia family of brands are encouraged to visit the respective brand e-commerce sites at: www.columbia.com, www.sorel.com, www.mountainhardwear.com, and www.prana.com.

“The health and safety of our employees, consumers and the communities where we live and work is paramount to us,” said Tim Boyle, chair, president and CEO of Columbia Sportswear. “During this temporary closure we are also offering catastrophic paid leave to our employees most affected by this virus in an effort to live our values of Doing the Right Thing for our employees, consumers and communities.”

In addition to the North America store closures, Columbia has taken many steps to carry out the health and safety advice from health authorities around the world. These steps have included store closures in select markets outside of North America, enhanced cleaning protocols in all locations, implementation of work from home plans to reduce health risks, facilitation of sick leave to encourage and enable employees to stay home and avoid the risk of spreading illness to others, and travel restrictions to limit potential transmission of COVID-19.

Columbia’s administrative facilities remain open to provide customer support with the least amount of disruption possible. As Columbia continues to monitor this complex and rapidly evolving situation, Columbia’s plans may change.

“Columbia has been in business since 1938 and weathered many storms by keeping its focus on the well-being of its employees, consumers and the larger community,” said Tim Boyle.

Posted March 16, 2020

Source: Columbia Sportswear Co.

VF Corp. Update On Global Business Impact Of COVID-19: Temporary Closure Of All Owned Retail Stores Across North America

DENVER — March 16, 2020 — In response to the global COVID-19 coronavirus outbreak, VF Corp. today announced the temporary closure of all owned retail stores across North America, effective March 16 through April 5. All retail employees at these locations will continue to receive full pay and benefits during the temporary closure period.

In addition to its retail fleet, VF has closed its corporate and brand offices in North America until April 5 and is enabling all office employees to work remotely. The temporary closure of both offices and retail locations may be extended depending on the overall state of the COVID-19 situation.

“During this time of uncertainty and concern, our steadfast commitment is to do what’s right for our people, consumers and our global communities,” said Steve Rendle, VF’s chairman, president and CEO. “The decision to close our retail stores, as well as our corporate and brand offices in North America, is the responsible thing to do to help mitigate the spread of the virus through social distancing. We will continue to monitor this situation closely and follow the guidance of global health professionals to ensure we’re doing our part to flatten the curve of newly confirmed cases.”

VF’s actions in North America are consistent with similar operational decisions made in its EMEA and Asia Pacific regions. In mainland Europe, VF has closed all offices and retail store locations until further notice, and its locations in the United Kingdom are currently operating on reduced hours.

In the Asia Pacific region, which was first impacted by the virus, VF initially closed the majority of its offices and retail locations. Currently, the company’s offices in Greater China are open and approximately 90 percent of its retail store locations are now open for business. While retail store traffic has steadily improved over the past month, it remains down significantly compared with the prior year. VF’s offices and retail locations in South Korea, Japan, Hong Kong and Taiwan remain open, but office employees are working remotely, and retail store locations are operating on reduced hours in some cases.

Consistent with VF’s long-term strategy, the company’s digital platform remains a high priority through which its brands stay connected with consumer communities while providing experiential content and service. In accordance with local government guidelines and in consultation with the guidance of global health professionals, VF has implemented measures to ensure the health, safety and well-being of associates employed in its distribution and fulfillment centers around the world. These facilities remain operational in order to support digital consumer engagement with its brands and to service retail partners as needed.

VF’s supply chain operations have experienced limited disruption to date as a result of the COVID-19 situation. Ongoing diversification efforts, such as re-directing manufacturing and materials sourcing, are underway in an attempt to mitigate potential future disruption. While it is not possible to gauge the full impact to VF’s supply chain at this time, VF continues to believe its global supply chain represents a key competitive advantage during periods of uncertainty and market volatility.

As stated in VF’s news release dated February 7, 2020, the coronavirus outbreak was not contemplated at the time VF provided its adjusted fiscal 2020 outlook on January 23, 2020. VF will provide an update as to the operational and financial impacts of the coronavirus during the company’s fourth quarter fiscal 2020 conference call in May 2020.

Posted March 16, 2020

Source: VF Corp.

Kohl’s And Lands’ End Announce New Partnership

MENOMONEE FALLS, Wis. — March 16, 2020 — Kohl’s today announced a new partnership with Lands’ End to offer the retailer’s entire assortment of women’s, men’s, kids, and home merchandise on Kohls.com, directly fulfilled and shipped by Lands’ End, beginning fall 2020. In addition, Kohl’s will bring Lands’ End merchandise, with a particular focus on seasonal goods for the family, including outerwear in fall/winter and swimwear in spring/summer, to 150 stores beginning fall 2020.

“The addition of Lands’ End, a market leader in the classic, casual lifestyle, into Kohl’s brand portfolio further strengthens our product leadership and our ability to deliver unmatched national brands to Kohl’s customers,” said Michelle Gass, Kohl’s CEO. “Lands’ End brings its strong brand recognition, leadership in casual style and fit authority, and gives new and existing customers something to discover at Kohl’s.”

Kohl’s will offer casual and seasonal apparel and home goods from Lands’ End on Kohls.com, including products the brand is famous for like outerwear and swim, in a deep array of extended sizes and fits, including petites, plus, and big and tall, for men, women and kids. Additionally, select Kohl’s stores will feature a Lands’ End shop-in-shop experience, offering customers an assortment of relevant products for the whole family all year round. In-store products will rotate seasonally beginning with outerwear in fall 2020, including jackets, vests and cold weather accessories, followed by swimwear for the family in early 2021.

“Lands’ End is a brand that is synonymous with fit and quality, and brings well-crafted, timeless pieces in a wide range of sizes across women’s, men’s and kids categories to Kohl’s customers,” said Doug Howe, Kohl’s chief merchandising officer. “With their exceptionally strong seasonal businesses, we are especially thrilled to offer Lands’ End outerwear and swimwear for the entire family at Kohl’s and to bring a compelling brand experience to life in select Kohl’s stores.”

“We’re thrilled to be partnering with Kohl’s as we work to meet our customers wherever, however and whenever they want to shop, whether that’s online, at our retail stores or – as is often the case – at Kohl’s,” said Jerome Griffith, CEO, Lands’ End. “We know our customers consistently list Kohl’s as one of their primary shopping destinations, and we place great value in meeting them where they are already shopping.”

Posted March 16, 2020

Source: Kohl’s / Lands’ End, Inc.

Levi Strauss & Co. Provides Business Update On COVID-19: Temporarily Close Its Owned And Operated Retail Locations In The United States And Canada — Employees Will Be Paid

SAN FRANCISCO — March 16, 2020 — Levi Strauss & Co. today announced it will temporarily close its owned and operated retail locations in the United States and Canada as of Monday, March 16, in response to the coronavirus and the guidance of public health officials in both countries. The company expects these stores to remain closed through March 27, 2020. Store employees will be paid for all scheduled hours during the closure.

“We are facing an unprecedented global pandemic, and our first priority is to do the right thing for the health and safety of our employees and our consumers,” said Chip Bergh, president and CEO of Levi Strauss & Co. “Effective immediately, we are electing to close our stores in the U.S. and Canada and encourage people to follow public health guidelines and take care of one another and their communities. We have faced many challenges in our 167-year history, and we will continue to navigate difficult times as we always have — by putting our people first and managing this business for the long term.”

These temporary closures do not affect the company’s online operations.

The company will provide a more detailed update during its fiscal first quarter 2020 earnings call scheduled for April 7, 2020.

Posted March 16, 2020

Source: Levi Strauss & Co.

PVH Corp. Response To COVID-19 Outbreak: Temporarily Close All Company-Operated Retail Stores Across North America And Europe

NEW YORK CITY — March 16, 2020 — PVH Corp. announced today that in response to the escalating global COVID-19 outbreak, it will close temporarily all company-operated retail stores across North America and Europe, effective March 17 through March 29. All retail associates at these locations will continue to receive full pay and benefits for their scheduled shifts during the temporary closure period.

Consumers can continue to shop from our digital commerce websites, Tommy.com, CalvinKlein.com, VanHeusen.com, Izod.com, styleBureau.com and SpeedoUSA.com, in applicable markets.

The company’s offices remain open; however, all associates are working remotely in North America and Europe with the exception of a minimal number of business critical functions. We will continue to re-evaluate these procedures along with the latest developments with the COVID-19 situation.

Many of the company-operated stores across the Asia Pacific region have re-opened, although stores in some regions are operating on reduced hours. While retail store traffic has shown some improvement over the past month, it remains down significantly compared with the prior year. The company’s offices in Greater China have re-opened, and offices in South Korea and Japan remain open but most associates are working remotely.

“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. 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. We urge everyone to be safe and engage in the health protections urged by health authorities,” said Manny Chirico, chairman and CEO.

PVH will provide a business update, including the impacts of COVID-19, during its fourth quarter fiscal 2019 earnings call, to be held on April 2, 2020 and will provide any other updates on the situation as may be warranted before then.

Posted March 16, 2020

Source: PVH Corp.

Huntsman Announces The Acquisition Of CVC Thermoset Specialties, Expanding Its Specialty Chemicals Portfolio

THE WOODLANDS, Texas — March 16, 2020 — Huntsman Corporation today announces its agreement to acquire CVC Thermoset Specialties, a North American specialty chemical manufacturer serving the industrial composites, adhesives and coatings markets. CVC Thermoset Specialties is part of Emerald Performance Materials LLC which is majority owned by affiliates of American Securities LLC.

CVC Thermoset Specialties has annual revenues of approximately $115 million with two manufacturing facilities located in Akron, Ohio, and Maple Shade, New Jersey. Under terms of the agreement, Huntsman will pay $300 million, subject to customary closing adjustments, in an all-cash transaction funded from available liquidity. Based on full year 2019, the purchase price represents an adjusted EBITDA multiple of approximately 10 times, or between approximately 7 to 8 times pro forma for synergies, the lower multiple end being dependent upon normal growth market conditions. The transaction is expected to close around midyear of 2020.

Commenting on the acquisition, Scott Wright, President of Huntsman’s Advanced Materials division, said: “The acquisition of CVC Thermoset Specialties brings valuable complementary technology breadth to our Advanced Materials portfolio and its unique products will make systems using our class-leading epoxy-based materials even tougher, stronger, and more durable. This business manufactures highly specialized toughening, curing and other additives used in a wide range of composite, adhesive and coatings applications across aerospace, automotive and industrial markets. In addition to strengthening our position in North America, Huntsman will use our existing asset footprint and routes to market in Europe and Asia to rapidly grow and globalize CVC Thermoset Specialties’ exciting and complementary product range. This acquisition will further improve our ability to create differentiation in our customers’ applications, in particular through our strong formulations business.”

Peter Huntsman, chairman, president and CEO, further commented: “This bolt-on fits all the criteria we look for in acquisitions for our Advanced Materials division, including new technology, synergies, and globalization opportunities. The business currently achieves EBITDA margins in excess of 25 percent and we expect to achieve significant synergies within two years.

“In these uncertain times, our financial strength will allow us to keep looking for these types of acquisitions, while at the same time maintain a conservative balance sheet and opportunistically repurchase shares. We remain committed to our balanced approach to capital allocation. Year-to-date we have taken advantage of our depressed stock price and have repurchased approximately $85 million in stock. Lastly, while forward visibility remains low, the first quarter is on track to deliver on the outlook that we communicated on our February 13, 2020 earnings call.”

Posted March 16, 2020

Source: Huntsman Corp.

Lands’ End Update Regarding COVID-19

DODGEVILLE, Wis. — March 15, 2020 — Lands’ End, a uni-channel retailer known for high-quality apparel for the whole family and the home, has been closely monitoring the situation and provided an update on COVID-19.

We care deeply about our employees, customers and communities and want to be sure that we keep them healthy and safe during this unprecedented time. Out of an abundance of caution to the communities we serve, we are closing all retail stores in the United States through March 29. We will continue to pay all our retail employees for the hours they have been scheduled to work in our stores.

Our website, landsend.com http://www.landsend.com/ remains open 24/7 as we continue our commitment to giving customers the best possible experience. Our customer service team will be available via phone or text at 800.963.4816 or via email at landsend@landsend.com to provide service and to answer any questions our customers may have.

For the safety of our employees and customers, we have restricted international and domestic travel, instituted flexible work plans, including working remotely where available to encourage social distancing in our offices, and have increased our cleaning and sanitizing procedures in our offices, retail stores and distribution center.

We continue to follow guidance from public health officials and government agencies, including the Centers for Disease Control and Prevention (CDC) and the World Health Organization (WHO).

Posted March 16, 2020

Source: Lands’ End Inc.

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