May 13, 2020
| |
Good morning, Broadsheet readers! Runner Mary Cain has a new sponsorship—and job, the women who run Scotland and Northern Ireland object to Boris Johnson’s plan to emerge from lockdown, and two CEOs weigh in on reopening. Have a wonderful Wednesday.
– ‘Reopening’ x 2. Two CEOs, from two very different industries, weighed in yesterday on what ‘reopening’ from coronavirus lockdowns will mean for their companies.
In an interview with Bloomberg , Nasdaq CEO Adena Friedman says her staff’s return to the physical workplace will be voluntary for the foreseeable future. She made that determination after an employee survey found that the vast majority of workers want to keep working from home as they evaluate the wider world’s virus recovery.
When workers do return to the office, they may be subject to temperature tests, sit in spaced-out desk arrangements, and have to wear masks.
She acknowledged that her industry is privileged to be able to work remotely. “We have the luxury of patience,” she said. “[W]e have the ability to work from home very effectively.”
Generally speaking, Patagonia CEO Rose Marcario doesn’t have that luxury with a workforce scattered across retail stores and warehouses. The outdoor apparel and equipment company has been hit hard by coronavirus shutdowns, with North American sales plunging 50% since it temporarily closed its 39 stores and e-commerce business there on March 13; it was one of the first major retailers to do so.
Patagonia resumed online orders on April 9 once it had revamped its Reno, Nev., distribution center. Workers wear gloves and face coverings, they stand 30 feet apart, the cafe is closed, shared refrigerators are off-limits, and overall staffing is at 50%.
Even with the pressure of slumping sales and few remote working options, Marcario told The New York Times Patagonia is not hurrying to reopen physical stores like retail peers Macy’s and Gap Inc. In fact, the company is not expecting to open retail locations for in-store shopping until June at the earliest. It may not even happen until the fall or early winter.
Patagonia has established itself as a progressive force in Corporate America in recent years, particularly in regards to climate change. It’s also certified as a B corp, meaning it’s required to consider the interests of “workers, the community, and the environment” in addition to shareholders.
That first stakeholder—employees—is top-of-mind for Marcario who says the company may eschew state decrees to reopen.
“We were one of the first to shut down, we might be closer to the last to reopen fully—I don’t really care,” Marcario said. “We are doing everything we can to ensure that our employees are taken care of in the best way possible and we’ll make those decisions as we come to them.”
Claire Zillman
claire.zillman@fortune.com
@clairezillman
Today’s Broadsheet was produced by Emma Hinchliffe.
ALSO IN THE HEADLINES
| |
- Special results. Republican Mike Garcia took the lead over Democrat Christy Smith in yesterday's special election to fill former Rep. Katie Hill's California seat, which she resigned in 2019. Hill won the district by nine points for Democrats in 2018. After the tallies are finalized, both candidates are expected to run again for the usual term in November. Politico
- Running the show. Runner Mary Cain, who shared her story of being "physically and emotionally broken down" by her Nike team, is now one of the first two professional athletes to be sponsored by running company Tracksmith. Along with her sponsorship, Cain will also work as a community manager for the brand. New York Times
- Behind the bestsellers. Carolyn Reidy, president and CEO of Simon & Schuster since 2008, died of a heart attack at 71. Reidy's colleagues credit her with the success of books by authors from Doris Kearns Goodwin to Hillary Clinton. Fortune
- Tragedy in Kabul. Gunmen in Kabul stormed a hospital's maternity ward Tuesday in an attack that left 16 people dead, including mothers, newborns, and nurses. Afghanistan interior ministry spokesperson Marwa Amini called the attack, which was one of two on Tuesday, "unforgivable." NPR
MOVERS AND SHAKERS: Luckin Coffee fired CEO Jenny Qian amid an investigation into fabricated sales.
Content From Deloitte
Take a seat
One simple connection, made at the right time, can change the journey that we are all on together. For Laura, a media industry executive, an invitation to join Deloitte’s Technology, Media and Telecommunications (TMT) Board-Ready Women series served as a catalyst to overcome her doubts and take the plunge into board candidacy. Read more
A note from Fortune's editor-in-chief
| |
The new Fortune 500 lists launches on Monday.
I invite you to subscribe today for exclusive subscriber-only analysis and insights. Act now to save 20% on the Access Plus and Premium tiers and discover why it pays to know Fortune.
Clifton Leaf
IN CASE YOU MISSED IT
| |
- Four nations, two plans. Northern Irish leaders Arlene Foster and Michelle O'Neill joined Scottish First Minister Nicola Sturgeon in rejecting U.K. Prime Minister Boris Johnson's "stay alert" plan to ease the coronavirus lockdown. "We will not be driven by a timetable," said Foster, Northern Ireland's first minister. Guardian
- South Dakota standoff. South Dakota Gov. Kristi Noem says she plans to take the Cheyenne River Sioux Tribe and Oglala Sioux Tribe to federal court as the tribes attempt to prevent the spread of the coronavirus on their reservations. Tribal leadership has declined to remove highway checkpoints onto tribal land and cites treaties and a court decision that give them the power to do so. NPR
- Top chefs. Even though restaurants are largely closed, Food & Wine has highlighted the best chefs of 2020—those who will shape the future of the restaurant industry after the pandemic. They include Philadelphia-based K'Far's Camille Cogswell, New York eatery Kāwi's Eunjo Park, Los Alamos restaurant Bell's chef Daisy Ryan, and Detroit-based Selden Standard's Lena Sareini. Food & Wine
ON MY RADAR
| |
Netflix scores movie rights to iconic 1999 U.S. women’s soccer team Variety
The women’s jail at Rikers Island is named for my grandmother. She would not be proud New York Times
Trump wanted a coronavirus victory event. It ended when he stalked off after clashing with two female reporters Washington Post
PARTING WORDS
| |
"I am tired, but hopeful."
-Christine McLean, owner of the Alabama home decor business The Red Pincushion, which has sewn 79,000 face masks
| |
|
Thanks for reading.
If you liked this email, pay it forward. Share it with someone you know.
Did someone share this with you? Sign up here. For previous editions, click here.
To view all of Fortune's newsletters on the latest in business, go here.
This email was sent to newsletter@newslettercollector.com Unsubscribe | Edit your newsletter subscriptions Fortune Media (USA) Corporation