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Some unbiased Nike shops stay open in Russia over every week after closure announcement By Reuters

by Index Investing News
March 13, 2022
in Stocks
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Some independent Nike stores remain open in Russia over a week after closure announcement
© Reuters. FILE PHOTO: A buyer is mirrored in a store window adorned with Nike retailer brand on the outlet village Belaya Dacha exterior Moscow, Russia, April 23, 2016. REUTERS/Grigory Dukor

(This March 11 story corrects to say “at the very least six unbiased shops” as a substitute of “many” shops; provides particulars on Nike (NYSE:)’s March 3 assertion about suspension of operations in Russia)

By Richa Naidu

LONDON (Reuters) – At the least six unbiased Nike shops in Russia had been open on Friday afternoon, in accordance with checks made by Reuters, greater than every week after the world’s greatest sports activities retailer stated it was briefly closing all its outlets within the nation.

Beaverton, Oregon-based Nike stated the shops that had been open are owned and operated by unbiased companions.

Nike stated on March 3 that it could briefly droop operations in any respect its Nike-owned and -operated shops in Russia, becoming a member of a number of Western manufacturers that did so following Moscow’s invasion of Ukraine.

Reuters couldn’t instantly decide the full variety of unbiased, companion shops that had been open on Friday. Nike has roughly 100 shops within the Russian Federation, in accordance with the shop listing on its web site, which confirmed that each one of them had been “open.” A Nike spokesperson stated Friday that Nike is “updating” its on-line retailer locator “to mirror our retailer closures.”

Days previous to Nike’s announcement that shops would briefly shut, Nike made merchandise purchases on its web site and app unavailable in Russia and directed its prospects within the nation to brick-and-mortar shops as a substitute.

Nike is offering continuity pay for workers within the shops it closed, the Nike spokesperson stated Friday.

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