Due to the evolving and uncertain nature of the COVID-19 pandemic and its impact on Apex Global Brand’s business, Apex Global Brands Inc. will not be providing Fiscal 2021 guidance at this time. While revenues are expected to be down year-over-year, so too will the Company’s expenses. In response to the anticipated decline in revenues, Apex Global Brands has implemented cost savings measures whose full effect will be more fully seen in the second quarter of Fiscal 2021. Apex cannot provide assurance that these cost savings measures will be adequate to offset further revenue declines, and COVID-19 may have a material impact on operating results, cash flows and financial condition beyond Apex’s current expectations.