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.