Canada Goose Holdings Inc said on Wednesday it would limit shipments to department stores and focus on its own outlets and website to shore up profit margins, as it looks to cushion the blow from the COVID-19 pandemic.
The Toronto-based company unveiled on Wednesday in conjunction with Earth Day, a sustainable impact strategy, including a target of becoming carbon-neutral by 2025, as well as a shift towards the use of reclaimed fur.
As different industry players continue to take actions to fight the spread of Covid-19 or preserve their own liquidity during the crisis, the latest announcements have come from Canada Goose, Condé Nast and Coty.
Tapestry's Coach and Kate Spade foundations will each make new contributions to support Covid-19 charities and frontline healthcare workers, while Canada Goose will boost its production of medical protective gear.
Ralph Lauren Corp said on Tuesday it drew down $475 million from an existing credit line and stopped share buybacks, as it looks to beef up cash reserves to cope with the financial blow from the coronavirus pandemic.
While most malls across the country remain open - some at reduced store hours - in the midst of the pandemic, many retailers are stepping up and taking preventative measures including temporarily closing their stores.