Business
Aritzia Provides Business Update on COVID-19
Aritzia Provides Business Update on COVID-19 Canada NewsWire VANCOUVER, March 16...
About this update from Aritzia, Inc.
[{"type":"text","content":"\n\n\n\nAritzia Provides Business Update on COVID-19\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, March 16, 2020\n\n\n\nVANCOUVER, March 16, 2020 /CNW/ - Aritzia Inc. (\"Aritzia\" or \"the Company\") (TSX: ATZ), a vertically integrated, innovative design house of exclusive fashion brands, announced updates to its business operations. \n\n \n \n \n \n \n \n\n \nIn response to the evolving COVID-19 pandemic, Aritzia will be closing all of its retail locations until further notice as of Monday, March 16th, 2020.  \n\"Our goal is to do our part for the global well-being. As we navigate this complex and challenging landscape, we feel this is the best decision for our people, our clients, our partners and our community as a whole,\" said Brian Hill, Founder, Chief Executive Officer and Chairman. \n\"Aritzia is committed to ensuring the financial continuity of both our internal team and the employees of our overseas partners impacted by COVID-19. All of Aritzia's profits, while we get through this challenging time, will go to the Aritzia CommunityTM Relief Fund to pay our people and support their families. Let's continue to take care of each other,\" continued Mr. Hill.\nClients will be able to continue shopping Aritzia's Everyday Luxury offering through aritzia.com for the time being. Aritzia is significantly increasing precautionary measures to ensure the well-being of its Concierge and Distribution Centre employees. Effective immediately, the Company will also shift all Support Office employees to flexible working arrangements. \nDespite near-term uncertainties, Aritzia's management team remains confident in the fundamentals of the Company's business model and long-term growth opportunities. Aritzia will provide an update on the operational and financial impacts of COVID-19 on its fourth quarter Fiscal 2020 earnings call in May. \nForward-Looking Information\nCertain statements made in this press release may constitute forward-looking information under applicable securities laws, including with respect to the announced closure of Ar...