Apple to Extend Its US Store Closures
Apple Inc. (NASDAQ: AAPL) is extending the closure of its U.S. stores amid the ongoing coronavirus pandemic. According to the iPhone giant, its retail stores will remain closed and work-from-home procedures will stay in place until early May.
In a memo to its employees, Apple Senior Vice President of Retail and People Deirdre O’Brien told staff that the company anticipates that “flexible work arrangements will remain in place for all offices, and all retail stores will remain closed, until early May.”
Additionally, she noted that Apple is “continuing to monitor local conditions for every Apple facility on a daily basis” and that the company will make “reopening decisions on the basis of thorough, thoughtful reviews and the latest guidance from local governments and public health experts.”
The company is “working on options to make sure parents have the support and the flexibility to adjust their schedules as needed.” O’Brien also said that Apple is aware “many parents are balancing homeschooling with working” and is encouraging employees to be open with management about their challenges.
Apple stock traded down about 1% on Friday, at $242.50 in a 52-week range of $170.27 to $327.85. The consensus price target is $310.09.