Cole Haan delays IPO

Cole Haan is delaying its plans of filing for an initial public offering amidst the worldwide coronavirus outbreak. In just one week, the coronavirus managed to wipe out 4.3 trillion dollars from the U.S. stock market, and Cole Haan is one of the biggest casualties of companies that were looking to list on stock exchanges soon.

Last week, Cole Haan's S&P Index declined by 12 percent of its total value, prompting the company to hold off on their IPO. The markets are seen as too volatile to attract potential shareholders.

Many companies had been rushing to complete their IPOs, as markets tend to be volatile during a presidential election year. Coronavirus has thrown off many companies plans to launch soon, including Warner Music Group.

Like many other fashion companies, Cole Haan is sure to feel the effects of the coronavirus in other ways ranging slower or declining international sales and closed stores. The long term fiscal effects of coronavirus on the company are still too early to be seen, but we will see what quarterly results will say.

photo: courtesy of Cole Haan