From social distancing to scores of employees transitioning to working from home, the coronavirus crisis is changing our daily habits, including how we shop. To prevent further spreading of the disease, some fashion retailers are adopting precautionary measures early by closing their physical storefronts for the time being.
Here’s a breakdown of some companies that already have shut their doors.
Abercrombie & Fitch Co. announced Sunday that it will temporarily close all of its stores outside of the Asia-Pacific (APAC) region to help limit the spread of Covid-19. Stores in APAC will remain open, and online business will continue. “The decision to close all our stores outside of the APAC region has been done with a focus on the well-being of our associates, our customers, our partners, and our communities, and it is in keeping with our commitment to being a responsible corporate citizen,” said CEO Fran Horowitz.
Effective immediately, Aldo CEO David Bensadoun announced via Instagram that the firm would temporarily close all of its stores in Canada, the U.S., U.K., France and Ireland, through March 31. The company said it would also be paying store teams for scheduled shifts. In addition, Aldo has adjusted its return policy to 90 days for all purchases made as of Feb.1.
The eco-friendly brand said on Saturday it would close its stores in the U.S. and Europe through March 27. All employees will receive full pay and benefits during this period. Allbirds’ website will continue to operate as usual. Corporate employees have started working from home. “Now more than ever, we can appreciate how small the world truly is, and the importance of coming together to protect our global community in times of great need,” wrote co-founders Joey Zwillinger and Tim Brown in an Instagram post.
Founder and CEO Anita Patrickson announced she would temporarily close her Los Angeles custom-made sandal shop to help mitigate the spread of COVID-19. She will be compensating her scheduled staff accordingly. In addition, any sandals purchased online during this time will come with a free strap change and adjustments once the store is opened again. “I also urge you all to support local, small businesses for whom the consequences of the coronavirus could be catastrophic.”
American Dream, the second largest mall in the United States, will close on Monday, March 16, through the end of March. The brand-new East Rutherford, N.J.-based mall is taking the measure as a preemptive step since no cases have been reported at American Dream as of now. “Our hearts go out to all those who have been affected by the outbreak of COVID-19 both in the United States and globally, as well as in our local community. As a shopping and entertainment brand built for the largest and most diverse community in the world, we have a responsibility to keep that community informed and safe,” a statement on the American Dream website reads.
On Saturday, Ancient Greek Sandals announced that it would suspend brick-and-mortar operations until further notice “due to the general precautionary measures toward containment.” The brand has a flagship store in Athens, Greece, where the company is headquartered.
Caleres on March 19 announced that stores across all of its brands — including Famous Footwear, Naturalizer, Allen Edmonds and Sam Edelman — will be closed from March 19 through April 2. “As we progress through this very volatile health crisis, we will continue to balance the distinct needs of our communities with ongoing requirements of our consumers, while working tirelessly to ensure the safety of our team members and to protect our business,” CEO and President Diane Sullivan said in a statement.
Capri Holdings — parent to Versace, Jimmy Choo and Michael Kors — announced on March 17 that it was temporarily shuttering all of its banner stores in North America, starting March 18, and in Europe, beginning March 19. All such outposts will remain closed through April 10. The company will continue to pay its retail workers, and customers will still be able to shop on each of the luxury houses’ websites. “We are facing an unprecedented global pandemic,” said CEO John Idol. “Our first priority is to help protect our employees, consumers, partners and communities and to ensure we are doing our part to prevent the spread of COVID-19.”
Champion announced late Wednesday on social media that it is closing all of its U.S. stores temporarily. No opening date was announced. The company, however, stated Champion.com will remain open.
Cole Haan announced on Tuesday the closure of doors in New York, Massachusetts, Pennsylvania, Ohio, Washington and California, with the plan to reopen on or before March 31. During the expected closure period, affected employees will continue to receive scheduled pay and benefits. “We hope everyone remains safe and healthy,” CEO Jack Boys said in a release. “Our thoughts are with those whose lives have been upended by this crisis.”
The boutique retailer announced on Monday via Instagram that it would close its New York and Boston stores for the next two weeks “in an effort to do our part to control the spread of COVID-19.” The statement also said its retail teams will be given paid time off for those two weeks.
Converse announced via social media on Sunday that it would temporarily close its stores in the U.S., Canada, the U.K., Germany, France, Italy, Spain, Portugal and Austria. The heritage athletic brand did not indicate when its doors would reopen, however it stated consumers can still visit its e-commerce platform, Converse.com.
Cool Kicks announced on Thursday via Instagram that it is shutting down operations at all of its stores until further notice. The company said it will monitor the advice of local health and government officials before reopening.
On March 16, Crocs announced the temporary closure all of its company-operated retail stores in North America, effective March 17 through March 27. All retail workers in the region will continue to receive full pay and benefits for their regularly scheduled shifts. Although its corporate offices remain open, Crocs employees have been told to work remotely during the same time frame. Shoppers can continue to make purchases on Crocs.com, but the foam clog maker said that customers might experience some potential delivery delays.
Deckers Brands confirmed on March 17 that it was temporarily shuttering its Ugg stores in North America and the Sanuk store in Orlando, Fla., through the end of the month. Retail employees at those locations will continue to receive pay and benefits during the two-week period until March 31. Corporate employees, on the other hand, have been asked to work from home, if possible. The company added that it will continue to address the needs of its global offices and make adjustments as needed.
Dick’s Sporting Goods
The athletic and outdoor retailer, which operates Dick’s Sporting Goods, Golf Galaxy and Field & Stream stores, is closed until April 2. It said it would continue to serve consumers via mobile apps and online, and through a new curbside, contact-less pickup service at Dick’s and Golf Galaxy stores. The option is available to shoppers between 9 a.m. and 6 p.m., seven days a week.
Beginning on Tuesday, March 17, DSW stores are temporarily closed to the public, the retailer announced. During this time, DSW.com will be open for new orders and the retailer will continue to offer the “buy online, pick up in store” option. Employees who are unable to work due to the closure will receive compensation for their scheduled shifts.
The Danish fashion-comfort brand has announced the closure of its nearly 80 full-price and outlet stores in the U.S. and all stores globally, according to Evert Rotteveel, director of marketing for Ecco USA. There are plans to reopen the stores on April 1. The website is also operating, with plans to increase both product and social media content.
Effective Sunday, March 15, Everlane closed its brick-and-mortar stores for two weeks. “This is a critical moment in the world. With the situation evolving quickly, we must all do our part in slowing the spread of COVID-19,” Everlane wrote in an Instagram statement. The ethical fashion brand will keep its website open for orders and will compensate retail workers while its doors are closed.
On Sunday, the brand announced that its shops in New York and San Francisco will remain closed through the end of March. The closures will not affect its team members’ compensation, according to the label. “We are a small company, 29 people strong, but independently owned and operated,” its co-founders Megan Papay and Cristina Palomo Nelson posted on Instagram. “We have our FRĒDA family in Italy and Spain who are taking all necessary precautions to do their part in reducing the spread of this virus. As a consumer, please think of supporting small businesses wherever you can. Together, we will get through this and hopefully come out stronger.”
On Monday, March 16, Gap Inc. announced that it is not only reducing operating hours at stores across the United States and Canada but also temporarily closing more than 100 stores in areas that have been hit the hardest. It would also continue paying both full- and part-time employees. “While these situations are unsettling and ever-changing, we will continue to make decisions in the best interest of our employees, [who have to] take care of their families and themselves,” incoming CEO Sonia Syngal wrote in a post on the company’s website. On Wednesday, March 18, Gap announced that it will close all stores across the Old Navy, Athleta, Banana Republic, Gap, Janie and Jack and Intermix banners for a temporary period of time, beginning on March 19.
After initially reducing store hours, Genesco announced on March 18 the temporary closure of its North American stores until March 28. The company said that it would then evaluate the timing of reopening. Customers will still be able to shop at Journeys.com, JourneysKidz.com, LittleBurgundyShoes.com and JohnstonMurphy.com. “Over the past few years, we have made strategic investments in our e-commerce operations and IT infrastructure, establishing dynamic online businesses that will allow our customers to continue to shop and stay connected with our retail brands through social media during these unprecedented times,” president and CEO Mimi Vaughn said in a statement.
Effective immediately, Greats is closing all locations through March 28, the sneaker label announced on Instagram on Sunday. During the two-week shutdown, Greats will continue to pay its retail employees; Greats.com will remain open, as will the brand’s social media channels. “This is an unprecedented moment in our history. With the situation being so fluid, everyone must do what they can to help slow the spread of COVID-19,” Greats wrote on Instagram.
Guess stores in the United States and Canada have been temporarily shuttered until March 27. All retail associates at these locations, the company confirmed in a statement, will continue to receive full pay and benefits for their scheduled shifts. “During these extraordinary times, the health, safety and well-being of the Guess community is our most important priority,” said CEO Carlos Alberini. “With that in mind, we will continue to remain flexible in order to adapt to this rapidly changing and unprecedented situation.”
Hudson’s Bay Co.
Effective March 17, Hudson’s Bay has made the decision to shutter all of its doors for two weeks with plans to reassess operations at that time. The health and well-being of our associates, customers and communities is our top priority and remains at the forefront as we make decisions in this rapidly evolving situation,” said Iain Nairn, Hudson’s Bay president, in a statement. The company said it will pay all workers for scheduled shifts during its two-week closure.
As of March 18, Hugo Boss shut down all of its retail locations across North America. The brand plans to keep stores closed until the end of the month with tentative plans to reopen on April 1. The online store remains open during this time. The company will continue paying hourly employees in alignment with normal business operations during this two-week period.
Hunter will be closing all global stores starting March 18 for at least two weeks, with the exception of its stores in Japan, “which remain open at this stage,” the company announced on Instagram. Hunter Boots will be integrating store team members into its Customer Services department during this interim period.
JCPenney is closing all stores and business offices effective March 18, with plans to reopen on April 2. “With the effects of the outbreak being felt more each day, our primary concern and area of focus is and has been on the health and safety of our associates, our customers, and our communities,” said CEO Jill Soltau in a statement. “We know this is a critical, unprecedented time and our thoughts are with those who have been impacted.”
J.Crew is shuttering all J.Crew and J.Crew Factory stores through March 28, the company announced in an Instagram post on Monday. The ready-to-wear label will continue to pay its retail workers while stores are closed and remain open for business online. “We will continue watching, listening and learning day by day, and will keep you posted as things evolve,” the brand’s Instagram post reads.
Beginning March 17, Kering is shuttering stores for two weeks in the U.S. and Canada across the luxury conglomerate’s banners, including Gucci, Bottega Veneta, Alexander McQueen and more. Impacted employees will be paid during the closure period, Kering said.
King of Prussia Mall
Responding to a request from Pennsylvania Gov. Tom Wolf that nonessential retail shut down, the King of Prussia Mall initially resisted then did shut down on Saturday, Mar. 14. The Pennsylvania mega mall is temporarily closed, and Simon Malls, the property owner, has not yet issued a formal statement on the subject. The governor’s request was made after Montgomery Country confirmed three more cases of coronavirus, raising the total to 20 reported cases in the region as of this writing.
Kith announced on Sunday that it will close all of its flagship stores beginning Monday, March 16, including locations in New York, Miami and Los Angeles. The retailer has not announced a reopening date, given that it plans to “closely monitor the situation and assess the development in real time.” While Kith’s brick-and-mortar business will temporarily close, Kith.com will remain fully operational.
L Brands Inc. said Tuesday that it would temporarily shutter all of its stores in the United States and Canada, including shops under the Victoria’s Secret, Pink and Bath & Body Works banners. Stores will be closed from March 17 through March 29. Employees will continue to be paid during the closure, and those who are able to work remotely have been instructed to do so.
The British heritage retailer is closing its doors for at least three weeks, beginning March 20 at 5 p.m. “As a business we remain optimistic, we know this moment will pass,” said Adil Khan, CEO of Liberty. “But we are neither complacent nor naive. We know we need to make our contribution to dissuade people fro moving and protect our staff and our customers.”
On Monday, L.L. Bean announced that all U.S. stores, including its Maine flagship, will be closed through March 29. During the closure, all retail workers will receive pay and benefits; L.L. Bean’s website will be open for orders while the physical stores are shuttered. “By making this decision now, we can better ensure the safety of our employees and customers, as we all continue to navigate a rapidly evolving situation and follow the CDC’s guidelines around the importance of social distancing,” CEO and President Steve Smith wrote in a statement.
Lululemon confirmed on Sunday, March 15, that its stores across Europe and North America are closed until March 27. “We are living in uncertain times, and we’re learning more about this virus every day,” said CEO Calvin McDonald. “We are taking this step to help protect our global community, guests and people.” Further, the company said that all workers will continue to receive pay for the hours they have been scheduled to work. It will provide an update regarding the coronavirus’s impact on its business during its fourth-quarter earnings call on March 26.
Macy’s announced on March 17 that it is temporarily closing all stores by end of the business day through the end of the month, including all Macy’s, Bloomingdale’s and Bluemercury outposts as well as Macy’s Backstage, Market by Macy’s and Bloomingdale’s The Outlet locations. Its workforce will continue to receive compensation and benefits. “We will work with government and health officials to assess when we will reopen our stores and safely bring our colleagues back to work,” said Chairman and CEO Jeff Gennette. Macys.com, Bloomingdales.com and BlueMercury.com, as well as their mobile apps, are still available to customers during this period.
On Monday, Madewell announced that it will close all stores for two weeks, through March 28. The company will continue to pay workers during this period and has also suspended all community events until further notice. “While this is a difficult decision, it is the right thing to do to ensure we are minimizing the risk for our customers, associates and communities,” the brand wrote in an Instagram statement. “This is uncharted territory for us all, but we are committed to making decisions that are best for our store associates, customers and communities. We are here for you, and we believe the best way to get through this is together.”
Mall of America
Mall of America, the largest mall in the United States, shuttered its doors to customers on March 17 at 5 p.m. The closure is effective through at least March 31. “The shopping and entertainment our tenants provide is an important part of the fabric of this community,” a memo on its website read. “Mall of America brings people together, and it will continue to do so once we are past this current situation. … These are unprecedented times that require unprecedented actions.”
Merrell president Chris Hufnagel announced Tuesday that the brand’s stores will be closed effective tomorrow, Wednesday. The executive stated the plan is to keep stores closed until at least March 27, however that may change as the company evaluates the decision further. Merrell confirmed it has 44 stores in the U.S.
Neiman Marcus Group
All Neiman Marcus, Bergdorf Goodman and Last Call stores will be temporarily closed for two weeks beginning March 17 due to coronavirus safety concerns. In a statement to FN, CEO Geoffroy van Raemdonck said: “As this COVID-19 pandemic continues to accelerate throughout the U.S., we have made the decision to temporarily close all Neiman Marcus, Bergdorf Goodman, and Last Call stores, effective tonight. These stores will remain closed for the next two weeks, with the potential to be extended pending future evaluation of the situation.” Adding, “We will provide pay and benefits to store associates affected by store closures for this two-week period. While our stores are temporarily closed, we will be digitally serving our customers. All our associates are accessible via mobile, text, the Neiman Marcus and Bergdorf Goodman apps, and our websites. In addition, we will accelerate the roll out of a new selling and styling tool that will facilitate remote selling. As I’ve said before, Neiman Marcus Group was born out of love – love for our customers, love for our associates, and love for our brand partners. There is nothing we care about more than the safety and well-being of our customers and our associates. We have a rich history in being responsible members of the communities in which we serve and must do our part to help stop the spread of COVID-19. We encourage everyone to remain safe and healthy during this time of uncertainty.”
The athletic company has announced the temporary closing of its office, factory, and retail locations in the U.S., Canada, and Western Europe from March 16 -27. All associates in North America will receive their regular pay and benefits during this period. At this point, NewBalance.com will remain operational, but will be suspending its NB1 custom footwear program made at its Lawrence, Mass. factory.
Nike announced on Sunday that it will close all of its U.S. stores, as well as its outposts in Canada, Australia, New Zealand and Western Europe, from Monday, March 16 through March 27 as it tries to help prevent the spread of the coronavirus. The Swoosh plans to keep doors open in many other countries, including South Korea, Japan and most of China, and will fully compensate workers. Additionally, the athletic giant has advised workers at its Beaverton, Ore., headquarters to work remotely and implemented extra safety and cleaning procedures.
The fitness-focused brand said in a statement on Saturday that it was closing all of its stores are closed until March 31. (Its Boston and New York City stores were closed all day Saturday and it shut down operations of its Miami door by midday.) The statement also read that Nobull has implemented a work-from-home policy in its Boston headquarters, that all retail staff will be paid through March 31 and that it is working closely with fulfillment centers to minimize disruption.
Opening Ceremony announced on Sunday that it will close shops in New York and Los Angeles temporarily to “prioritize the safety of our employees and community at large.” The company has not determined a date to reopen yet but remains open for online orders.
New Jersey sneaker boutique Packer Shoes announced on social media Tuesday that its store will be closed effective immediately and that it will remain closed for a minimum of this week. Its online presence, however, will remain fully functional.
The New York City retailer announced via social media today that it will temporarily close both the store and the website, effective March 17, to “protect the safety and health of our associates and customers and to help stop the spread of COVID-19.” Paragon did not give the date it will reopen and said it will keep customers updated as the situation evolves.
Patagonia made a bold move on Friday, announcing that all of its operations will end as a protective measure for public health safety. “We will temporarily close our stores, offices and other operations at the end of business on Friday, March 13,” wrote Rose Marcario, CEO and president of Patagonia Inc. in a memo posted on the company’s website. “Employees who can work from home will do so. All Patagonia employees will receive their regular pay during the closure. We apologize that over the next two weeks, there will be delays on orders and customer-service requests. We ask for your understanding and patience.” Marcario added that the company will reassess the strategy and update consumers on March 27.
The design academy announced in a statement Monday that Pensole Studios is closed until further notice and that programs and tours will be postponed, effective immediately. It also stated it will continue to update its social media platforms about online opportunities and how to remain active creatively.
PVH Corp., the parent company of Tommy Hilfiger, Calvin Klein and Speedo, among others, announced on Monday that it will shutter all retail locations in North America and Europe from March 17 through March 29. The company will fully compensate retail associates for their scheduled shifts while its doors are shut. “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,” said Chairman and CEO Emanuel Chirico in a release.
On March 17, Ralph Lauren announced the closure of all North American stores from March 18 through March 29. All employees impacted by the shutdown will receive full pay during this time, and the company will continue to take longtime hours while its brick-and-mortar business is closed. “In the current context, our purpose of inspiring the dream of a better life takes on new meaning,” CEO and President Patrice Louvet said in a press release. “Our number one priority is the health and well-being of our employees, our consumers and the communities we serve.” On March 19, the company said its directly operated stores in United Kingdom will also temporarily shutter.
In a lengthy Instagram post, the sustainability-focused brand announced that the company would be closing all of its physical retail stores. The statement said the brand will provide all of its retail employees with paid time off and will cancel any upcoming events or factory tours, too. Reformation signs off by reminding customers that their products are “available on the Corona-immune Internet” and invited followers to open a dialogue on what they want to hear from fashion brands amid the pandemic.
The company will temporarily close all Ross Dress for Less and dd’s DISCOUNTS locations in the United States, from March 20 through April 3. The retailer will provide up to two weeks of continued pay for any full-time our hourly associate who cannot work due to the COVID-19 closures
As of Saturday, Rothy’s announced that it would close all of its stores in New York, Boston, Washington D.C., and San Francisco. In addition, the company has asked its headquarters employees to work from home while all of its retail store employees will be paid through March 31. Rothy’s said it will continue to monitor updates from the CDC and World Health Organization to help inform its decisions going forwards.
Saks Fifth Avenue
Saks Fifth Avenue will close of all its stores in U.S. and Canada effective today. The retailer will be closed for two weeks, “unless otherwise instructed by government or public health officials,” the company posted on Instagram. In addition, all Saks Off Fifth locations will also close. All store employees will be paid for their scheduled hours during this two-week period.
The company announced on its social media channels that it will shut its four physical U.K. stores as of 7:00 p.m. U.K. time on Wednesday, March 18. The website will continue trading. “The health, safety and wellbeing of our customers and team members is our utmost priority. We must do the right thing by the communities in which we live and work to help mitigate the spread of the coronavirus,” it said. Selfridges confirmed separately that employees will continue to be paid their contracted hours throughout the unspecified closure period.
The chain store has announced the closures of it stores in the U.S., including Puerto Rico, from March 19 to April 2. It will continue to pay store associates as scheduled during this period. It will serve customers through its website and mobile app, according to Cliff Sifford, vice chairman and CEO. “We believe that our strong balance sheet, including availability on our $50 million credit facility, and our long-standing vendor relationships will provide us sufficient flexibility to meet the needs of our stakeholders during this difficult time,” he said.
Simon Property Group
Effective through March 29, Simon Property Group is shutting down all of its retail properties in the U.S., the retailer announced on March 18. “The health and safety of our shoppers, retailers and employees is of paramount importance and we are taking this step to help reduce the spread of COVID-19 in our communities,” CEO and Chairman David Simon said in a statement.
On March 18, Skechers said it would temporarily shut down its company-owned stores in North America as well as select European markets through March 28. “Given the rapidly evolving coronavirus crisis and the importance of social distancing in curbing the spread of the virus, we believe the closure of our stores is the appropriate decision for the safety of our employees, our valued shoppers and the public at large,” said COO David Weinberg. “We are monitoring our business and the impact of the virus in all countries and will continue to close stores as we feel needed.”
In an Instagram post on Sunday, Sneakersnstuff said it would close its stores in Paris, New York and Los Angeles beginning on March 16, as well as the SNS Bar in New York’s Meatpacking District. “Stay safe, wash your hands, cough into your elbows and maintain social distance for a couple of weeks. We’ll get through this together,” the retailer wrote on Instagram.
Stadium Goods is temporarily closing retail stores in the New York area beginning on March 16 as it prioritizes “the safety of our customers, consignment partners and employees.” Shoppers can continue to buy goods on Stadiumgoods.com and through the brand’s app; consigners can add and send inventory online as well.
Steve Madden on Sunday announced that all of its U.S. stores will close through March 27. The brand’s corporate employees have been instructed to work from home if possible, and all workers will be paid during this time. “This is obviously a rapidly evolving situation, and we will monitor developments going forward and adjust our plans as needed,” the company wrote on Instagram.
The streetwear juggernaut announced that the brand would be closing its New York City and London stores until further notice. Supreme left a sign outside its New York storefront explaining the preventative measure without providing a future reopening date.
On Tuesday, Tapestry Inc. announced that stores in North America and Europe across the Kate Spade, Coach and Stuart Weitzman brands will be closed until at least March 27, at which time the company will reassess the situation. During the closure period, employees will receive pay and benefits as scheduled.
The TJX Companies Inc.
The group is shutting down all of its stores in the United States, Canada, Europe and Australia for two weeks. It had already closed some stores in impacted areas. In addition, the off-price giant is closing its online businesses — Tjmaxx.com, Marshalls.com and Sierra.com during the same period. As part of those moves, TJX is closing its distribution centers and offices, with associates working remotely when they can. The retailer will continue to pay employees while operations are temporarily closed.
Tory Burch will close its stores in the U.S. and Canada through March 29 to help contain the spread of COVID-19. According to the company, its store teams will also continue to be paid for their scheduled hours during this time.
On Sunday, Under Armour said it would close all North American stores from Monday, March 16 through March 28 in an effort to help prevent COVID-19 from spreading. The Baltimore-based brand will continue to pay all workers during this time. “We are monitoring the situation globally, and closure decisions are being made on a country-by-country basis as necessary to protect our teammates and customers,” the company wrote in a statement.
In an Instagram post on Saturday, Urban Outfitters announced that all of its stores will be closed until further notice “for the safety and precaution of the community.” The mall staple’s website remains open for business. “We’re proud to call ourselves a part of your local community, and our goal has always been to provide you with safe spaces to come together, laugh and be inspired,” the company wrote. “While we work through these changes, know that we’re here to answer questions, keep you entertained and to continue to engage with our UO Community however we can.”
“Our world is hit. Badly,” the brand wrote on Instagram after announcing it would close its New York and Paris stores and offices. “We know that the economic wave and the social aftermath are yet to come. Keeping our team secure, on board, with a job, with a salary is our primary mission.”
Starting March 16, Veronica Beard is closing all of its stores nationwide. All employees will be working from home. The brand encouraged its consumers to stay indoors and to continue practicing social distancing.
Beginning March 19 and at least through March 27, Wolverine has temporarily closed its retail stores in the U.S and Canada, representing a fleet of approximately 90 locations representing less than $100 million of annual revenue. The company’s supply chain is currently operating at near full capacity and its logistics operations and distribution centers are at full strength. In addition, its ecommerce business is fully operational. “During this time of uncertainty, we are implementing significant measures to further strengthen our balance sheet and enhance liquidity,” said Mike Stomant, VP and CFO. “This includes a disciplined focus on closely managing inventory and working capital, while adjusting discretionary spending in all parts of the organization. We are acting quickly and believe this proactive approach will benefit us in the short -and long-term. We expect to continue to have financial flexibility to support the company’s operations now and in the future.”
3.1 Phillip Lim
The brand announced on Instagram that it would be closing four of its six standalone retail stores as a preventative measure to protect the well-being of staff and customers. The stores temporarily shutting down are in New York City, Los Angeles, Honolulu and London. Other stores are located in Shanghai and Tokyo. 3.1 Phillip Lim clarified that, despite the in-store closures, the teams from all four stores would be available via email to help customers with their orders or purchases.
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