Nike will fully shut down operations in Russia, joining other international companies that have withdrawn from the country after its brutal invasion of Ukraine.
FILE - This Aug. 8, 2017 file photo shows the Nike logo at a store in Miami Beach, Fla. Nikes shares are soaring before the opening bell Friday, June 25, 2021, as the footwear and clothing company posted record fiscal fourth-quarter sales in North America and gave a better-than-anticipated full-year revenue forecast.
Nike will fully shut down operations in Russia, joining other international companies that have withdrawn from the country after its brutal Nike Inc. suspended operations three months ago at all of its company-owned and operated stores in Russia but like other major corporations, has attempted to avoid exposing employees to hardship during a complete withdrawal.
The Russian newspaper Vedomosti reported last month that Nike had ended its relationship with Inventive Retail Group, its largest franchisee in the country. “Our priority is to ensure we are fully supporting our employees while we responsibly scale down our operations over the coming months,” the sports apparel maker said Thursday.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Russia-Ukraine live updates: Russia stonewalling on missing Americans: State Dept.LATEST: More than 8 million people have fled Ukraine since the start of the Russian invasion on Feb. 24, according to an update by the United Nations.
Read more »
Russia-Ukraine war live updates: Russia closes in on Lysychansk; Zelensky rallies support for E.U. candidacyFollowing Russian forces’ capture of a strategically important village Tuesday, the fate of Luhansk hangs in the balance as Ukrainian officials warn that the coming days could shape the outcome of the war.
Read more »
Nike to fully exit RussiaRetail giant Nike has decided to fully exit Russia following the country's invasion of Ukraine. The company said it would scale down operations there.
Read more »
Nike is exiting RussiaNike is the latest Western brand to leave Russia.
Read more »
Nike makes full exit from Russia after suspending operationsNike Inc. suspended operations three months ago at all of its company-owned and operated stores in Russia.
Read more »
Nike Is Reportedly The Latest Global Brand To Exit Russia CompletelyAnother global brand is exiting the Russian market for good, stating it will 'responsibly scale down' operations over the coming months.
Read more »