Dansko Update 07/24/2020

BUSINESS UPDATE MEETINGS

This week there were multiple small group meetings and zoom calls.

Jim reviewed the following information:

 

• The 12/31/2019 valuation resulted in a share price of $461 per share. Again, the share price represents the valuation as of December 31,2019 and we expect that subsequent events since that date will have a negative impact on the future share price.

• The 2019 ESOP Statements and 2019 ESOP and Financial Summary have been mailed this week. Please be on the lookout for them in your home mail. 

               If you don't receive your statement by August 1st, please contact Marc Vettori.

• Dansko’s 2020 revenue forecast remains at $75 M; no change from the revised forecast communicated in May. 

• There is no specific timeline for a return to a normal five-day workweek. Returning to a five-day workweek will vary individual to individual and department to department based on business conditions and needs. Similarly, there is no specific timetable for those who are able to work from home to return to working in the office on a regular basis.

 

Thanks for the many good questions asked during these sessions. A follow-up survey and an additional opportunity to ask more questions and provide feedback will be distributed shortly.

 

The plan is to collect these questions and share them as part of next week’s update.

TRAVEL UPDATE:

Late last week, Delaware was removed from Pennsylvania’s recommended quarantine list.

 

Governor Wolf’s administration has advised that if you travel to one of these 18 states, you will need to quarantine for 14 days upon returning to Pennsylvania.

 

Alabama	Georgia	North Carolina
Arizona	Idaho	South Carolina
Arkansas	Louisiana	Tennessee
California	Mississippi	Texas
Florida	Nevada	Utah
Kansas	Iowa	Oklahoma

 

As far as Dansko’s current travel policy, this means that if you have traveled to one of the states identified by Governor Wolf’s administration, you will not be permitted on the Dansko Campus for 14 days upon returning to the West Grove area. 

 

Additionally, if you have guests visiting you from any of these states, please contact Marc Vettori.

 

We continue to follow the Travel Policy last updated on June 19, 2020.

If you have any questions contact Marc Vettori. (Marc Vettori x1154, cell # 484.472.2383, or marc.vettori@dansko.com)  

EDUCATION BENEFIT

The Dansko Education tuition reimbursement program is has been suspended until further notice. 

 

Thank you all for your hard work and flexibility. We appreciate your support under these difficult circumstances.