As the Coronavirus outbreak spreads rapidly through the world, many companies have been putting in place their contingency plans to curtail the situation.
VF Corporation has announced the shutting of all its stores in North America temporarily from 16 March to 5 April.
The company has decided to temporarily close all corporate and brand offices as well, but affirms that the employees will continue to receive full pay and benefits during the closure.
The period of closure, is not final, however.
The company has conveyed that it will monitor the situation and decide if any extension is needed.
In a statement, Steve Randle, VF Corporation’s Chairman, President and CEO expressed that the step was taken to mitigate the spread of the virus by encouraging and enabling social distancing.
The company is trying to flatten the curve of new confirmed cases and will be following the guidance of global healthcare professionals before taking any steps. All of the brand’s retail locations and offices are closed in mainland Europe and its stores in UK are currently operating on reduced hours.
Another brand that is suffering the consequences of the outbreak is Inditex. Being one of the largest retailers in the world, Inditex has buckled down under the rising number of cases of COVID-19 in Spain and has closed its stores in the worst-hit regions while reducing the number of opening hours in other areas, according to Reuters.