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Uniqlo to suspend Russia operations in U-turn

Inside Retail

Uniqlo owner Fast Retailing Co on Thursday said it would suspend operations in Russia, in a U-turn by the Japanese fast-fashion giant which had indicated it would stay in the market after Moscow’s invasion of Ukraine. The company has more than 800 stores in China, about the same as in its home market of Japan.

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Nike, Ikea, Asos join a growing list of global retailers spurning Russia

Inside Retail

Sportswear retailer Nike and home furnishings firm Ikea have shut down their stores in Russia, as the world responds to the rogue state’s invasion of neighbouring Ukraine. Russia accounted for about 4 per cent of H&M’s sales during the last quarter, making it the group’s sixth-largest market.