logo
Plus   Neg
Share
Email

Guess', Inc. Announces Actions In Response To COVID-19 - Quick Facts

Guess', Inc. (GES) said the company is implementing a number of measures to mitigate the operating and financial impact of the pandemic, including: furloughing all of its U.S. and Canada store associates starting April 2, 2020; furloughing approximately 50% of its U.S. and Canada corporate associates, and most of the associates at its distribution centers in the U.S. and Canada, starting April 2, 2020.

The company is executing substantial reductions in expenses, store occupancy costs, capital expenditures and overall costs, including through reduced inventory purchases.

Guess', Inc. is also implementing temporary tiered salary reductions for all management level corporate employees in the U.S., ranging from 15% at lower levels to 70% for CEO Carlos Alberini and Chief Creative Officer Paul Marciano.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Pizza Hut said it is giving away 500,000 free pizzas to 2020 graduates in the Unites States. The pizza chain, owned by Yum! Brands, offers one free medium 1-topping pizza to all diploma/degree earning individuals until supplies last. The company is partnering with America's dairy farmers for the offer, which can be claimed until Thursday and redeemed until June 4. Merck & Co. Inc. on Tuesday announced deals, including an acquisition and two collaborations that will enable the U.S. drugmaker to join the race to develop coronavirus vaccines and drugs. Shares of Merck were rising almost 4 percent in the pre-market. Merck said it has agreed to acquire privately-held Themis, an Austria-based company focused on vaccines and immune-modulation therapies. The U.S. Food and Drug Administration or FDA announced that Acella Pharmaceuticals, LLC recalled certain lots of hypothyroidism medication NP Thyroid in the form of tablets due to super potency. The company is recalling 13 lots of NP Thyroid that are packaged in 100 count bottles in strengths of 30 mg, 60 mg, and 90 mg, with expiration dates between June 20, 2020, and December 20, 2020.
Follow RTT