Ukraine
This coverage examines how events in Ukraine affect the UK retail sector, focusing on supply chain disruption, commodity prices, consumer sentiment, and corporate responses. Reporting highlights how retailers adapt operations and strategy to mitigate risks and navigate challenges arising from the conflict — offering insight for executives, managers, and professionals making decisions in a volatile global context.
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Mar- 2022 -11 MarchClothing & Shoes
Uniqlo reverses decision to remain in Russia
Fast Retailing, the parent company of fashion brand Uniqlo, has announced it will temporarily suspend its operations in Russia amid the ongoing Ukraine crisis. While previously continuing its Uniqlo business in Russia, the company said it has recently faced a number of difficulties, including operational challenges and the worsening of…
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9 MarchClothing & Shoes
Mothercare joins retailers in suspending Russian business
Mothercare has announced that all business in Russia, including the shipment of all its products has been suspended in the wake of the ongoing Ukraine crisis. It comes as major retailers and businesses around the world have all joined in boycotting Russian business in a bid to put increased pressure…
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9 MarchClothing & Shoes
Adidas expects €250m sales hit amid Russia conflict
Adidas has reported its expects the war in Ukraine to risk up to €250m (£208.37m) sales in the company’s Russia/CIS business in FY22, representing approximately 50% of adidas’ total revenues in the region. The announcement comes as Adidas revealed its currency-neutral revenues increased year-on-year by 16% in FY21 from €18.43bn…
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8 MarchClothing & Shoes
Uniqlo owner defends decision to keep operating in Russia
The CEO of Fast Retailing, the parent company of fashion brand Uniqlo, has defended the company’s decision to continue operating in Russia claiming “clothing is a necessity of life”. In a statement first published by Nikkei and reported by Bloomberg, Tadashi Yanai said: “Clothing is a necessity of life. The…
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7 MarchClothing & Shoes
Zara owner Inditex to close all 502 stores in Russia
Inditex, the owner of fashion brands Zara, Pull and Bear and Berksha has announced it is to temporarily close all of its 502 stores located in Russia. One of the largest fashion operators in the world, Inditex has become the latest to cease its operations in the country following the…
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7 MarchNews
TK Maxx cuts ties with Russia
TK Maxx has announced it has taken “meaningful” business actions to cut ties with Russia. The announcement comes in addition to supporting its associates and the ongoing humanitarian relief efforts. Consistent with the firm’s corporate values, it said it is “committed” to divest its minority investment in Familia, a Russian…
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7 MarchNews
Asda donates £1m to Ukraine and axes Russian products from shelf
Asda and its charity, the Asda Foundation, has announced it is providing immediate support for displaced Ukrainian families in Europe and the UK in the aftermath of the Russian invasion through a £1m support package. The package includes pledging £100k in Asda Foundation support to national UK-based refugee support groups…
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7 MarchDepartment Stores
John Lewis halts sales of Russian products
John Lewis has become the latest retailer to make steps towards cutting ties with Russia, having removed Russian-made products from its Waitrose and John Lewis stores. In a statement, the retailer said: “The John Lewis Partnership is removing from sale products in Waitrose and John Lewis that are made in…
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4 MarchNews
M&S suspends shipments to Russian businesses
Marks and Spencer (M&S) has revealed it has suspended shipments to its Turkish franchisee’s Russian business. The announcement comes amid the humanitarian crisis following Russia’s invasion of Ukraine. Additionally, M&S are building on its existing support for Unicef UK’s Ukraine appeal with a £1.5m package to support the UN Refugee…
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4 MarchDIY
IKEA pauses operations in Russia and Belarus
Ikea has announced its company groups, Inter Ikea Group and Ingka Group, have decided to temporarily pause Ikea operations in Russia. This means that Inter Ikea Group will pause all export and import in and out of Russia and Belarus, and Ikea Industry production operations will be paused in Russia,…
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