PVH (NYSE: PVH), which owns the apparel brands Izod and Van Heusen, among others, announced on Tuesday that the ravages of the coronavirus will force it to close 162 of its outlet-mall stores.
The closures will come in its Heritage Brands Retail business, which comprises Izod, Van Heusen, several Kenneth Cole and Michael Kors brands, and DKNY. It will result in 450 people, or 12% of its workforce, being fired. Its other brands, including Calvin Klein and Tommy Hilfiger, are not affected by the closures but will see some of the layoffs.
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