Crocs, Inc. (NASDAQ: CROX) announced that in response to the escalating global coronavirus (COVID-19) pandemic, it will temporarily close all of its company-operated retail stores in North America, effective March 17 through March 27.
All North America retail employees will continue to receive full pay and benefits for their regularly scheduled shifts during this temporary closure period. While our North American stores will be closed, customers may continue to shop on Crocs.com. To ensure all shoes are delivered safely, customers are simply asked to remain patient as they may experience some potential delays.
While Crocs' corporate offices remain open, corporate employees are currently encouraged to work remotely during this time. In North America and throughout the world, Crocs is complying with all local regulations and guidelines, and will continue to monitor the COVID-19 situation and reassess its approach with the latest developments.
Many retail stores in Europe are also currently closed in compliance with local regulations. In Asia Pacific, many company-operated stores have re-opened and store traffic has begun to improve. All Crocs offices and owned stores within Greater China have re-opened and offices within South Korea, Japan and Singapore remain open with regular deep-cleaning and enhanced sanitary requirements.
Crocs will provide a business update, including the impacts of COVID-19, during its first quarter fiscal 2020 earnings call, to be held in early May 2020.
Andrew Rees, President and Chief Executive Officer, shared, "At Crocs, we have long been in the business of comfort. Our goal is simple, to help everyone be comfortable in their own shoes. Health and safety are paramount to this and therefore remain a top priority for us for our customers, employees and communities. We will continue to monitor the situation and adapt, as needed, to the ever-changing environment. This unprecedented mom