Nike to completely exit Russia over its conflict in Ukraine

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Nike is exiting Russia fully, three months after suspending operations within the nation, with the U.S. athletic put on firm joining other companies departing because of the war in Ukraine.

Beaverton, Oregon-based Nike had already halted gross sales in Russia, saying it couldn’t assure product shipments. The corporate additionally posted a discover on its Russian web site saying its website and cellular app would now not be obtainable within the area and that its greater than 100 shops within the nation would not reopen.

“Our precedence is to make sure we’re totally supporting our workers whereas we responsibly scale down our operations over the approaching months,” Nike stated Thursday in an emailed assertion to CBS MoneyWatch.


Russia ramps up attacks on Ukrainian cities

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Nike in Could stated it will not renew its contract with its largest Russian retail franchisee and wouldn’t put money into new enterprise. The corporate derives lower than 1% of its whole gross sales from Russia and Ukraine, the corporate’s CFO advised an incomes name in March. 

Different U.S. manufacturers to announce plans to withdraw from Russia in latest months include McDonald’s and Starbucks. A whole bunch of different corporations have additionally curbed or closed down their Russian operations this yr. 

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