https://www.cnbc.com/2020/02/07/coronavirus-latest-updates.html
This is a live blog. Please check back for updates.
All times below are in Eastern time.
Total cases: More than 31,000 as of Friday morning.
Total deaths: At least 636 worldwide as of Friday morning
Total deaths: At least 636 worldwide as of Friday morning
9:20 am: Van’s parent says 60% of its stores in China are closed for now
Shares of VF Corp., the parent of Vans, slid nearly 2% after the company revealed it has been forced to close about 60% of its owned and licensed stores in China due to the outbreak. Stores in mainland China had accounted for about 6% of its fiscal 2019 revenue. In addition, the company sources about 16% of its total cost of goods sold from China, and about 7% of that gets shipped to the U.S. market. VF said it’s “not possible” to gauge the impact of its supply chain at this time. —Cheddar Berk
8:39 am: Canada Goose says travel restrictions are hurting sales
Canada Goose Holdings said its profits have been hit by fallout from the virus. The outerwear maker’s stock dipped 7% after it announced that reduced consumer traffic and travel restrictions have hurt sales. The company cut its forecast for annual revenue growth from 20% to between 13.8% and 15%, which could mean a loss of up to C$51.6 million. —Miller
8:15 am: Uber CEO Dara Khosrowshahi says outbreak is not hitting the business
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7:49 am: Burberry closes a third of its China stores, revises guidance
Burberry was the latest big brand to warn of a hit to demand, withdrawing its financial guidance for 2020 and saying it had closed more than a third of its stores in mainland China. It said spending by Chinese tourists in Europe and elsewhere had not been hurt as much, but given widening travel restrictions, it forecast this would worsen in the coming weeks. — Reuters
7:20 am: Ericsson withdraws from major Barcelona conference over coronavirus concerns
Sweden’s Ericsson has announced it will not attend Mobile World Congress (MWC) in Barcelona, Spain later this month, saying it cannot ensure the safety of employees and customers amid concerns over the coronavirus. “The health and safety of our employees, customers and other stakeholders are our highest priority. This is not a decision we have taken lightly,” Borje Ekholm, president and CEO of Ericsson, said in a statement on Friday. “We were looking forward to showcasing our latest innovations at MWC in Barcelona. It is very unfortunate, but we strongly believe the most responsible business decision is to withdraw our participation from this year’s event,” he added. — Meredith
6:35 am: WHO director-general warns of a chronic shortage of personnel protective equipment
The director-general of the World Health Organization has warned about the risk of a chronic shortage of protective equipment as countries work to tackle the coronavirus outbreak. Speaking at an executive board meeting at WHO headquarters in Geneva, Switzerland, Tedros Adhanom Ghebreyesus said he was concerned about a lack of masks, gloves and other protective equipment, Reuters reported. Tedros also said there had been fewer reported coronavirus infections in China over the last two days. However, “the numbers could go up again,” he cautioned. Late last month, health experts told CNBC that the panic buying of face masks to protect against the coronavirus was “completely understandable,” but ultimately unwarranted. They also warned a shortage of masks could pose a risk to health workers. — Meredith
5:55 am: Trump hails ‘great discipline’ in China to tackle coronavirus
President Donald Trump has heaped praise on Chinese President Xi Jinping for “leading the counterattack” against the coronavirus. The U.S. president said via Twitter that he had recently had a “very good” conversation with Xi, adding that the White House was “working closely” with Beijing to help tackle the outbreak. “Great discipline is taking place in China, as President Xi strongly leads what will be a very successful operation. We are working closely with China to help!” Trump said on Friday. — Meredith
Just had a long and very good conversation by phone with President Xi of China. He is strong, sharp and powerfully focused on leading the counterattack on the Coronavirus. He feels they are doing very well, even building hospitals in a matter of only days. Nothing is easy, but...
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