Capri Holdings Limited, to help protect the health and safety of its employees, consumers and the communities where the company operates, it will temporarily close all directly operated Versace, Jimmy Choo and Michael Kors stores in North America from March 18 and in Europe from March 19 through April 10, 2020.

John Idol, the company’s Chairman and Chief Executive Officer, said in a statement: “We are facing an unprecedented global pandemic. Our first priority is to help protect our employees, consumers, partners and communities and to ensure we are doing our part to prevent the spread of COVID-19.”

The company further said that its fourth quarter and fiscal 2020 guidance provided on February 5, 2020 did not incorporate a negative impact from COVID-19 beyond China. The company had said that it expected the situation in China to reduce revenue by approximately 100 million dollars and earnings per share by 40 cents to 45 cents for the fourth quarter and full year.