×
71
Fashion Jobs
ADIDAS
Retail Area Manager
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Quality Product Integrity
Permanent · HO CHI MINH CITY
PVH
Manager, Technical
Permanent · Ho Chi Minh City
PVH
Senior Manager, Product Development (Footwear)
Permanent · Ho Chi Minh City
ON RUNNING
Sustainability Project Manager (Environmental)
Permanent · HO CHI MINH CITY
TAPESTRY
Manager, Social Compliance
Permanent · Ho Chi Minh City
ON RUNNING
Costing Specialist
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Manufacturing Innovation - Advanced Chemicals
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Social Manager - Consumer Product Division
Permanent · Ho Chi Minh City
L'OREAL GROUP
Social Content Manager - l'Oréal Dermatological Beauty
Permanent · Ho Chi Minh City
L'OREAL GROUP
Cdmo - Ecommerce Head
Permanent · Ho Chi Minh City
L'OREAL GROUP
Sales Force Effectiveness (Sfe) Manager
Permanent · Ho Chi Minh City
L'OREAL GROUP
Senior Product Manager - l'Oréal Dermatological Beauty
Permanent · Ho Chi Minh City
L'OREAL GROUP
Senior Talent Acquisition Executive (8-Month Contractor)
Permanent · Ho Chi Minh City
L'OREAL GROUP
Senior Product Manager - 3ce
Permanent · Ho Chi Minh City
L'OREAL GROUP
Head of Trade Marketing - l'Oréal Dermatological Beauty
Permanent · Ho Chi Minh City
ADIDAS
Manager Product Creation, Footwear, bu Originals, Basketball & Partnerships (M/F/D)
Permanent · HO CHI MINH CITY
TAPESTRY
Senior Manager, Costing (Footwear)
Permanent · Ho Chi Minh City
L'OREAL GROUP
Office Manager
Permanent · Ho Chi Minh City
COLUMBIA SPORTSWEAR COMPANY
Mgr-Corp Responsibility
Permanent ·
H&M
Import Export Associate
Permanent · BIEN HOA
H&M
Nhân Viên tư Vấn Bán Hàng Bán Thời Gian - Vincom Đồng Khởi
Permanent · HO CHI MINH CITY
By
Reuters
Published
Apr 6, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Capri furloughs all North America store staff, sees stores reopening only after June 1

By
Reuters
Published
Apr 6, 2020

Michael Kors owner Capri Holdings Ltd said on Monday it would furlough all its 7,000 employees in North America amid the coronavirus pandemic, as it expects to reopen its stores only after June 1.

Several retailers, including Capri, have already closed their stores in the United States and Europe amid lockdowns to curb the spread of the virus that has killed about 68,000 people globally.


Photo: Versace



The company’s shares, which have lost more than three-quarters of their value this year, rose nearly 25% on Monday as broader markets rallied amid hopes that the pandemic was slowing down in some of the hardest-hit regions.

Shares of rival and Coach owner Tapestry Inc were also up about 16%.

Capri, which had a total of about 17,800 employees at the end of fiscal 2019, said furloughed employees were eligible for unemployment insurance and other government relief programs. It added it would need a smaller workforce once the pandemic ends.

Capri said it is applying for national payroll subsidy programs in various European countries to reduce payroll expense.

“Given our size and scale, we believe that Capri is well-positioned to continue to operate its business despite this unprecedented situation,” Chief Executive Officer John Idol said.

The board’s annual cash compensation will be slashed by 50% and several executives including Idol, designers and Chief Creative Officers Michael Kors and Donatella Versace will forgo their salary for fiscal 2021, Capri said.

The company, which acquired Versace last year, said it would also look for ways to reduce overall salaries at various levels by about 20% to preserve its cash flows.

As of April 1, Capri had total cash and cash equivalents of about $900 million. It has fully drawn $300 million of availability under a revolving credit facility.

© Thomson Reuters 2023 All rights reserved.