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Nike to temporarily close all stores in Russia -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The Nike Swoosh logo can be seen at the New York store located on 5th Avenue, New York City, U.S.A, 19 March 2019. REUTERS/Carlo Allegri

(Reuters) – Nike Inc (NYSE 🙂 stated on Thursday that Russia would be closing all of its shops. It joins other Western companies who are suspending their operations in Russia after Moscow invaded Ukraine.

American sportswear manufacturer, U.S. Sportswear Maker made it unavailable for Russian customers earlier in the week. It directed them to brick-and mortar stores.

This latest decision applies to both Nike-owned stores and Nike-operated shops.

According to the company, its foundation was also donating $1,000,000 to the United Nations Children’s Fund or the International Rescue Committee for relief efforts.

Earlier today, U.S. Off-Price Chain TJX (NYSE ) Cos Inc stated that they would sell their 25% share in Russian Low-Cost Apparel Retailer Familia. Additionally, two executives resigned from their positions as director and observer.

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