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VF Closes All Retail Stores Across North America Over Coronavirus Outbreak

VF Corp.(VFC) said that it has temporarily closed all of its owned retail stores across North America until April 5, as part of the effort to reduce the spread of coronavirus.

All retail employees at these locations will continue to receive full pay and benefits during the temporary closure period.

In addition, VF has 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.

VF's actions in North America are consistent with similar operational decisions made in its EMEA and Asia Pacific regions. In mainland Europe, VF has closed all offices and retail store locations until further notice, and its locations in the United Kingdom are currently operating on reduced hours.

In the Asia Pacific region, which was first impacted by the virus, VF initially closed the majority of its offices and retail locations. Currently, the company's offices in Greater China are open and about 90 percent 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.

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