Money Lululemon stores in China mostly closed due to novel coronavirus outbreak
Plane carrying Canadians from China's coronavirus outbreak zone arrives in Canada
A chartered aircraft that left Wuhan, China, carrying 176 Canadians away from the epicentre of the coronavirus outbreak landed at Vancouver International Airport Thursday night.The evacuation flight organized by the federal government landed at around 9 p.m. PT. It will refuel before taking off for the Canadian Forces base in Trenton, Ont.
A message from MSN Canada:
To help those affected by the COVID-19 coronavirus, MSN For Good, powered by Microsoft News, is bringing the plight of people affected by this illness around the world to your attention. Find out more about theefforts and please donate to the campaign .
Please be generous.
VANCOUVER — Most of Lululemon Athletica Inc.'s nearly 40 stores in China have been closed since early February amid the novel coronavirus outbreak, the company said.
"We're inspired by the resilience and commitment of our team in China as we navigate the emerging impacts of the coronavirus," chief executive Calvin McDonald said in a statement Friday.
2 presumptive cases of coronavirus confirmed in B.C., bringing total to 4
Two presumptive cases of coronavirus have been confirmed in B.C., according to B.C. Centre for Disease Control, bringing the total in the province to four.Dr. Bonnie Henry, the provincial health officer, said Thursday that the two patients are a man and woman in their 30s visiting from China's Hubei province.
Related video: Getting a discount on everything you buy in stores [Provided by Money Talks News]
"The safety of our people is our highest priority, and we are adjusting store operations based upon the recommendations of local authorities."
Most of the Vancouver-based company's 38 stores in China have been closed since Feb. 3 in accordance with Chinese guidance. Some are now operating on a reduced schedule, while the company's online business continues to operate.
Other Canadian retailers with stores in China have been under the same orders as authorities work to contain the COVID-19 outbreak.
Alibaba offers $2.86 billion in loans to firms hit by coronavirus outbreak
Alibaba offers $2.86 billion in loans to firms hit by coronavirus outbreakIt said 10 billion yuan will be made available for firms in Hubei, the central Chinese province that is the epicentre of the outbreak. They will be offered one-year loans on a zero interest rate basis for the first three months and a 20% discount on rates for the remaining nine months.
Tim Hortons, which has roughly 30 stores in the country mostly in the Shanghai region, temporarily closed several of its restaurants, executives said earlier this month.
Amer Sports Canada Inc., which owns the Salomon, Arc'teryx and other brands, owns nearly 50 stores in China across its various brands, spokesperson Bethan Williams wrote in an email earlier this month.
"Some of the stores are closed due to the closure of shopping malls, and most of them are having to shorten their business hours due to low traffic and instructions from the government," Williams wrote, adding online sales haven't seen much of an impact.
"Overall, it is too early to assess the operational and financial impacts of the virus."
Lululemon said it is continuing to monitor the situation, and will provide and update on the financial and operational impact when it reports its fourth-quarter results in late March.
Canadian government worker, flight crew released from coronavirus quarantine
According to Canada's chief medical officer, five flight crew members and one government employee have been assessed and cleared for early release from quarantine.In a statement released Monday morning, Dr. Theresa Tam said she had authorized the early release of five flight crew members who accompanied Canadians returning from Wuhan, China from Vancouver to Canadian Forces Base (CFB) Trenton.
In January, the company raised its financial guidance for its fourth quarter, which ended Feb. 2, saying it expects more net revenue.
Earlier this month, Canada Goose Holdings Inc. cut its expectations for the year, citing "material negative impact" from the coronavirus.
The luxury parka maker lowered its expected annual revenue growth for its 2020 financial year with CEO Dani Reiss telling analysts during a conference call that the health crisis "has hit our biggest current growth market."
Canada Goose saw significant reductions in revenue at stores and through online shopping across Greater China, while global travel disruptions affected its stores in North America and Europe.
Meanwhile, other retailers face manufacturing problems.
Indigo Books & Music Inc., which makes some of its products in China, has said that some of its new products will be delayed due to the outbreak.
For many companies, including Lululemon, China is a major market for expansion.
Restaurant Brands International, the parent company of Tim Hortons, announced in 2018 it plans to open more than 1,500 of the coffee-and-doughnut chain locations in the country over a 10-year period.
Lululemon announced last year plans to quadruple its international revenue within five years and projected revenue from China will exceed that in Europe, Australia and New Zealand by 2023.
"Despite the current disruption to our growing business in China, we remain confident in the long-term opportunities this market holds for Lululemon," McDonald said.
This report by The Canadian Press was first published Feb. 21, 2020.
Companies in this story: (TSX:QSR, TSX:GOOS, TSX:IDG)
China forfeits Davis Cup tie in Romania due to virus .
LONDON — China forfeited a Davis Cup tie on Tuesday because its men’s tennis team cannot travel to Romania next month. The International Tennis Federation cited “increased restrictions in response to the current coronavirus outbreak” for the decision. China was to play in Piatra Neamt, Romania, on March 6-7 in a World Group I playoff. The ITF said Romania will advance to a World Group I tie in September. China will drop into World Group II. The death toll in mainland China due to the virus named COVID-19 had risen to almost 1,900 on Tuesday, with more than 72,000 confirmed cases.