VF Corp. is taking on even more financial cushion to see it through the coronavirus shutdown — but is still paying its workers and its dividend.
That sets VF apart in a world where most retailers have had to furlough their staffs to conserve cash as they try to survive the crushing shutdown. Clearly, VF is getting ready for the long haul and also just starting to get a sense of opportunities amid the massive market disruption. “Since the beginning of the COVID-19 outbreak, we’ve managed our response strategies with a people-first approach that prioritizes the health and well-being of our employees around the world,” said Steve Rendle, chairman, president and chief executive officer. “These new actions position us to continue supporting our people while also taking prudent measures to protect the financial integrity of our company as we manage through the prolonged disruption caused by this global health crisis.
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