VFC VF Corporation

   By Dave Sebastian 
 

VF Corp. said it is closing all retail stores across North America through April 5, as the coronavirus pandemic has led to a national emergency in the U.S.

The company, which owns brands such as Vans and Timberland, said its corporate and brand offices in North America are also closed until April 5 and is enabling office employees to work remotely. Store employees will continue to receive full pay and benefits during the temporary closure, VF said.

The closure could be extended depending on the pandemic's situation, VF said.

"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," Chairman Steve Rendle said.

In mainland Europe, VF said it has closed all offices and retail locations until further noticed, and U.K. locations are operating on reduced hours.

In Greater China, the company said its offices are open and 90% of its retail store locations are now open. Store traffic has improved from the past month, but it remains significantly lower from the prior year, the company said. Retail stores in South Korea, Japan, Hong Kong and Taiwan are operating on reduced hours in some cases, the company said, and office employees are working remotely.

The company said it has experienced limited disruption to its supply chain amid the pandemic.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

March 16, 2020 07:23 ET (11:23 GMT)

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