Some independent Nike stores remain open in Russia over a week after closure announcement By Reuters

Stock Market



© Reuters. FILE PHOTO: A customer is reflected in a shop window decorated with Nike store logo at the outlet village Belaya Dacha outside Moscow, Russia, April 23, 2016. REUTERS / Grigory Dukor

(This March 11 story corrects to say “at least six independent stores” instead of “many” stores; adds details on Nike (NYSE :)’s March 3 statement about suspension of operations in Russia)

By Richa Naidu

LONDON (Reuters) – At least six independent Nike stores in Russia were open on Friday afternoon, according to checks made by Reuters, more than a week after the world’s biggest sports retailer said it was temporarily closing all its shops in the country.

Beaverton, Oregon-based Nike said the stores that were open are owned and operated by independent partners.

Nike said on March 3 that it would temporarily suspend operations at all its Nike-owned and -operated stores in Russia, joining several Western brands that did so following Moscow’s invasion of Ukraine.

Reuters could not immediately determine the total number of independent, partner stores that were open on Friday. Nike has roughly 100 stores in the Russian Federation, according to the store directory on its website, which showed that all of them were “open.” A Nike spokesperson said Friday that Nike is “updating” its online store locator “to reflect our store closures.”

Days prior to Nike’s announcement that stores would temporarily close, Nike made merchandise purchases on its website and app unavailable in Russia and directed its customers in the country to brick-and-mortar stores instead.

Nike is providing continuity pay for employees in the stores it closed, the Nike spokesperson said Friday.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indices, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy / sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link

Leave a Reply

Your email address will not be published.