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Genesco closes stores temporarily


Another group closes doors in the US following the rapid diffusion of the Covid-19 on the country. Genesco recently announced its business guidance for 2020, but is now withdrawing it

"The safety and well-being of our employees, customers and communities are our top priorities. Over the past few years, we have made strategic investments in our e-commerce operations and IT infrastructure establishing dynamic online businesses that will allow our customers to continue to shop and stay connected with our retail brands through social media during these unprecedented times", Mimi E. Vaughn, Genesco's President and Chief Executive Officer.

After initially reducing store hours, US-based Genesco has decided to temporarily close its North American stores effective the 19th of March and through the 28th of March 2020.  At that time, the company will evaluate the timing of reopening. 

Due to the heightened uncertainty relating to the potential impact of Covid-19 on Genesco's business operations, including its duration and effect on overall customer demand, the company is also withdrawing its guidance issued on the 12th of March 2020. Genesco is not providing updated guidance currently.

Image credits: Patrick Perkins on Unsplash


 
 
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