The fashion retailer’s decision comes nearly five months after it paused all sales in the country.
Fashion retail giant H&M is undertaking steps to completely shut down its business operations in Russia, the company
on Monday, joining other major global brands like Nike and McDonald’s who have exited the country following its invasion of Ukraine.H&M’s decision to leave Russia comes four-and-half months after it suspended its retail operations in the country., the retail group’s CEO Helena Helmersson said it was “impossible” for the company to continue operations in Russia due to the “current situation.”
As part of its exit plan, H&M will temporarily reopen stores in Russia to sell off all remaining inventory. Shutting down operations in Russia will cost the company 2 billion Swedish Krona and have a 1 billion Swedish Krona impact on the company’s cash flow.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Kanye West Exits Rolling Loud Miami; Kid Cudi Set To HeadlineKanye West will not be headling at Rolling Loud Miami on July 22 due to “circumstances outside the control” of festival organizers, who have already secured Kid Cudi to take over headli…
Weiterlesen »
A 'fully flavoured' Playboy - Chicago ReaderThe classic 20th-century Irish comedy The Playboy of the Western World comes to rich life at City Lit Theater.
Weiterlesen »
Watch YouTuber Build Fully Automated Wolverine Claws In His GaragePopular YouTuber Colin Furze shared DIY videos of his inspiring project: fully functioning and automated Wolverine claws.
Weiterlesen »
Scientists Have Fully Sequenced the DNA of a Pompeii Victim for the First TimeThe middle-aged man from Pompeii likely suffered from a spinal condition. Here's what else his ancient genome reveals. Click the link to read more. Pompeii Genome Discover
Weiterlesen »
AI Ethics Cautiously Assessing Whether Offering AI Biases Hunting Bounties To Catch And Nab Ethically Wicked Fully Autonomous Systems Is Prudent Or FutileThe latest in AI Ethics consists of AI bias bounty hunting, though this raises a lot of questions, including as considered for aiming at AI-based self-driving cars.
Weiterlesen »
Nike is taking over the H&M space at NorthParkSigns with the message “Here for however Dallas wants to move” went up Friday night revealing the sneaker giant has claimed the large space.
Weiterlesen »