Another mass closure.
The Wall Street Journal
. It was also reported in May that the company has chosen not to renew agreements with the Inventive Retail Group , its largest franchisee in Russia that operated 37 Nike-branded stores in the country, per Reuters. But despite the large number of affected stores, this move is not likely to impact the company in a large way. During a third-quarter earnings call in March,, Nike's chief financial officer, said that the company's business in Russian and Ukraine accounted for less than 1 percent of the retailer's total revenue—making Nike's exit"largely symbolic rather than material," Reuters explained.
their operations in Russia this year as the war continues, according to Bloomberg. Nike is hardly the only U.S. company that has decided to make a full exit from Russia. In May, both McDonald's and Starbucks confirmed that they would be ending all their operations in the country.
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