VF Corp closes all stores in North America

North America
Published:  16 March, 2020

The U.S. headquartered footwear and apparel manufacturing Group has announced the temporary closure of all its owned retail stores across North America, from March 16 to April 5.

VF said it has also closed its corporate and brand offices in North America until April 5 and is enabling all office employees to work remotely. The temporary closure of both offices and retail locations may be extended depending on the overall state of the COVID-19 situation. “During this time of uncertainty and concern, our steadfast commitment is to do what’s right for our people, consumers and our global communities, said Steve Rendle, Chairman, President and CEO, VF Corporation. “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. We will continue to monitor this situation closely and follow the guidance of global health professionals to ensure we’re doing our part to flatten the curve of newly confirmed cases.”

In the Asia Pacific region, which was first impacted by the COVID-19, VF initially closed the majority of its offices and retail locations. Currently, the Group’s offices in Greater China are open and approximately 90% of its retail store locations are now open for business. “While retail store traffic has steadily improved over the past month, it remains down significantly compared with the prior year. VF’s offices and retail locations in South Korea, Japan, Hong Kong and Taiwan remain open, but office employees are working remotely, and retail store locations are operating on reduced hours in some cases”, said VF.

Sourcing

VF’s supply chain operations are said to have experienced limited disruption to date as a result of the COVID-19 situation. The Group said that ongoing diversification efforts, such as re-directing manufacturing and materials sourcing, are underway in an attempt to mitigate potential future disruption. “While it is not possible to gauge the full impact to VF’s supply chain at this time, VF continues to believe its global supply chain represents a key competitive advantage during periods of uncertainty and market volatility”, said the Group.

VF’s brands include Timberland, Vans, The North Face and Dickies.