CONSHOHOCKEN, Pa., March 30, 2020 /PRNewswire/ -- David's Bridal announced today a series of additional actions as the company continues to respond to the unprecedented impacts of the Covid-19 pandemic.
"Earlier this month we made the decision to temporarily close our 300+ retail locations to appointments and walk-ins in an effort to keep our associates and customers healthy and safe," said Jim Marcum, David's Bridal Chief Executive Officer. "During this closure period, our associates received pay; however, the rapidly evolving situation requires us to take additional actions to respond to the challenges we face today."
Due to the uncertainty in the length of these closures and the timing of our ability to re-open our stores, David's Bridal will be:
- Extending the closure of its retail locations to the public beyond the April 1st date previously announced, based on the latest guidance from federal, state and local governments and health authorities.
- Executing a substantial reduction in expenses, capital expenditures and inventory commitments.
- Significantly reducing the salaries of the executive management team and board of directors as well as reducing the salaries of senior corporate and field employees.
- Implementing a furlough program that will affect the vast majority of store employees and over 50% of the corporate workforce.
During the store closure period, David's continues to guarantee on-time delivery of all orders to meet customer event dates.
David's Bridal's e-commerce activities will continue to operate normally. The company has over 300,000 dresses in stock in the U.S ready to ship immediately, and its distribution and fulfillment operations remain open.
"There is simply nothing worse than telling hard working, highly valued employees that their jobs are being impacted by something completely out of their control," Marcum said. "Our decision to furlough employees, not lay them off, will allow them to maintain benefits as we work hard to bring associates back to work as quickly as possible."
The company will continue to follow the regulations of government and healthcare authorities in determining when to reopen its store locations in various jurisdictions.
About David's Bridal
With 70 years of experience dressing customers for all of life's special occasions, David's Bridal is built on the idea that everyone deserves to have the attire of their dreams regardless of style preference, shape, size, or budget. We believe in inclusivity, authenticity, and empowerment, and it is our mission to help anyone and everyone find the look that will allow them to be the best, most genuine version of themselves on their wedding day or any special occasion. David's Bridal is dedicated to helping each customer, with the assistance of online planning tools, knowledgeable stylists, and expert tailors who will guide them through the entire purchasing journey. With more than 300 stores located across the US, Canada, UK, and franchise locations in Mexico, we offer the convenience of one-stop shopping for the entire wedding party and beyond. To learn more about David's Bridal, visit https://www.davidsbridal.com/ and connect on social media through Instagram, YouTube, Pinterest, Facebook and Twitter.
SOURCE David's Bridal, Inc.