6/23, 2:16 PM (Source: TeleTrader)
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Nike B-0.95%

Chart for: Nike Inc

Nike announces 'full exit' from Russian market

The United States-based company Nike Inc. announced it will leave Russian markets, three months after suspending its operations in the country, CNBC reported on Thursday, citing the company's emailed statement.

"NIKE has made the decision to leave the Russian marketplace. Our priority is to ensure we are fully supporting our employees while we responsibly scale down our operations over the coming months," the company's statement read, joining other major Western brands such as McDonald's and Google to leave the country's market.

In March, the US-based sportswear maker, together with Apple Inc. both shut down their respective online stores in Russia after the beginning of the Ukrainian conflict.

Baha Breaking News (BBN) / AB