Kontoor Brands Provides Update On COVID-19 Business Impacts

GREENSBORO, N.C — March 17, 2020 — Kontoor Brands Inc. — a global lifestyle apparel company, with a portfolio led by two iconic consumer brands, Wrangler® and Lee® — today announced that it will temporarily close to the general public all owned and operated retail locations across North America and Europe, effective Wednesday, March 18, in response to the COVID-19 coronavirus pandemic.

Kontoor anticipates the stores to remain closed to the general public through March 27, 2020, and impacted employees at these retail locations will receive pay and benefits during this time, or any longer period as may be required by local governments. The company will reevaluate this temporary closure as the situation evolves.

“We believe it’s our responsibility to do our part to help slow the spread of the coronavirus through social distancing and other measures. Closing our North American and European retail locations is an important, proactive step toward that effort,” said Scott Baxter, president and CEO, Kontoor Brands. “We are closely following the recommendations of public health officials and will continue to adjust our global response to ensure the well-being of our employees, consumers and communities.”

The store closures include the company’s VF Outlet, Lee-Wrangler Outlets, Lee-Wrangler Clearance Centers, Wrangler and Hometown Studio stores. The company’s owned direct-to-consumer channels, including www.lee.com and www.wrangler.com, remain operational and continue to serve consumers.

In addition to the North America and European retail location closures, Kontoor is taking significant measures consistent with advice from health authorities around the world to help curtail the spread of coronavirus at all of its locations. These steps include implementation of global travel restrictions, remote work flexibility, and enhanced cleaning and sanitation protocols at Kontoor facilities, including offices, manufacturing locations and distribution centers.

Kontoor is actively assessing the operational and financial impacts of the coronavirus and will continue to provide updated information.

Posted March 18, 2020

Source: Kontoor Brands