XML 20 R9.htm IDEA: XBRL DOCUMENT v3.21.1
Impact of COVID-19 Pandemic
3 Months Ended
Mar. 31, 2021
Unusual or Infrequent Items, or Both [Abstract]  
Impact of COVID-19 Pandemic
2.Impact of COVID-19 Pandemic:

 

A novel strain of coronavirus (“COVID-19”) surfaced in late 2019 and has spread around the world, including to the United States and France. In March 2020, the World Health Organization declared COVID-19 a pandemic. The COVID-19 pandemic disrupted our business operations and caused a significant unfavorable impact on our results of operations in 2020.

 

In response to the COVID-19 pandemic various national, state, and local governments where we, our suppliers, and our customers operate initially issued decrees prohibiting certain businesses from continuing to operate and certain classes of workers from reporting to work. In all jurisdictions in which we operate we have been following guidance from authorities and health officials in allowing our teams to gradually return to our offices, including, requiring personnel to wear masks and implementing additional cleaning and sanitization routines at our offices and distribution centers.

 

The effects of the COVID-19 pandemic on the beauty industry began in early March 2020. Retail store closings, event cancellations and a shutdown of international air travel brought our sales to a virtual standstill. Business significantly improved during the second half of 2020 and into the first quarter of 2021 as retail stores reopened and consumers increased their on-line purchasing and we expect this trend to continue. However, international travel has remained largely curtailed globally due to both government restrictions and consumer health concerns. In addition, the recent resurgence and introduction of variants of COVID-19 cases in various parts of the world have caused the temporary re-implementation of government restrictions to prevent further spread of the virus in certain jurisdictions. Therefore, despite recent business improvement, the impact of the COVID-19 pandemic may have a material adverse effect on our results of our operations, financial position and cash flows through at least the end of 2021.