Canada Goose shuts stores in North America and Europe

Canada Goose Holdings Inc. will close all retail stores in North America and Europe as of March 17 until at least March 31, while customers will continue to be able to shop at Canadagoose.com. The company said in a statement that in Greater China, retail stores remain open as does our e-commerce through Tmall’s Luxury Pavilion, while store in Tokyo, which is partner-operated and accounted for in the company’s wholesale channel, is also open with a reduced schedule. In Canada, the company will begin closing in-house production facilities as of March 17 for at least a two-week period.

“We are facing unprecedented times. This situation is constantly evolving, and we are committed to supporting our employees as best as possible while doing our part to prevent the spread of COVID-19,” said Dani Reiss, President & CEO of Canada Goose.

In a letter to Canada Goose employees, Dani noted that he will forego his salary for at least the next three months, and the Company will use those funds to establish the Canada Goose Employee Support Fund. For employees who are impacted by the closures but are not eligible for government assistance, this fund will provide financial support to employees and their families during this time.

Canada Goose has reiterated the fiscal 2020 outlook issued on February 7, 2020, however since the extent and duration of COVID-19 disruptions remain uncertain and may negatively impact future fiscal periods more significantly, the company is suspending the long-term outlook, which did not account for the impact of COVID-19 disruptions.

Picture:Facebook/Canada Goose

 

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