Fox apparel: no significant impact on its operations as a result of the Corona

The Fox apparel chain reports after the stock exchange closed that no significant impact on its operations as a result of the Corona eruption is currently expected. The company makes it clear that orders for the upcoming summer season have already been delivered, and production can, if necessary, be shipped to major Group suppliers outside of China.
Following media reports and uncertainty over the implications of the Corona virus and the regular return to work of factories in China after the Chinese New Year holiday, Fox reports that it operates through significant suppliers and subcontractors in China, which produce products sold in the Group's stores. However, Fox clarifies that the group has other significant suppliers in various countries, including Bangladesh, India, Turkey and other countries.
In relation to the group's operations under its international brands, Fox reports that the brand owners have not been informed of any implications that are expected to materially affect the group's operations.
"The nature of the group's activity is mostly seasonal, with group bookings for the upcoming summer season already being provided," Fox explains, and therefore do not expect any short-term activity.
According to the report, the group is in regular contact with its suppliers in China, some of whom have returned to work and some report that they intend to return to work soon, but since there is still uncertainty regarding the regular return to work of all suppliers in China, the company is still unable to assess the impact on operations and its results in the medium term. And the long.
At the same time, the Group is preparing alternatives if needed to mitigate its possible negative impact on its operations in the future - among other things, by diverting some production to the company's suppliers in Bangladesh, India, Turkey and other countries, and purchasing alternative supplier products, which will respond to a delay in returning to regular production in China.