Sportswear maker adds its brand to the list of U.S. companies pulling out of the Russian market. nike alabamanewsnetwork
Beaverton, Oregon-based Nike had already halted sales in Russia, saying it could not guarantee product shipments. The company also posted a notice on its Russian website saying its site and mobile app would no longer be available in the region and that its more than 100 stores in the country wouldn't reopen.
"Our priority is to ensure we are fully supporting our employees while we responsibly scale down our operations over the coming months," Nike said Thursday in an emailed statement to CBS MoneyWatch.Nike in May said it would not renew its contract with its largest Russian retail franchisee and would not invest in new business. The company derives less than 1% of its total sales from Russia and Ukraine, the company's CFO told an earning call in March. .
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