Ralph Lauren Corp is the latest company to weigh in on the likely impact of the coronavirus outbreak. In its latest update, Ralph Lauren Corp. said that approximately two thirds of its stores in the Chinese mainland have been temporarily closed during the past week and that it expects broader impact across its businesses in China and parts of Asia due to significantly reduced travel and retail traffic.

‘Our dedicated teams are operating with agility in a highly dynamic situation, and we will continue to assess the implications for our business across retail, corporate and our supply base, while the health crisis creates near-term uncertainties, the fundamentals of our business are strong, and we continue to see significant long-term opportunities for growth in China and across Asia.’ – Patrice Louvet, President & CEO, Ralph Lauren