JD Sports ceases trading in Russia

4th Mar 2022 12:57

(Sharecast News) - JD Sports become the latest in a growing list of companies on Friday to announce that it had stopped trading in Russia.

"Everyone at JD is shocked and deeply concerned by Russia's invasion of Ukraine and expresses the utmost sympathy for all Ukrainians," the sportswear retailer said in a brief statement.

"JD confirms that it has ceased all trading in Russia across both its brand websites and wholesale channels." It said these represented less than 0.05% of annual revenues.

The company also confirmed that it has no facilities or employees in either Russia or Ukraine.

Earlier in the week, online fashion retailers Boohoo and Asos suspended trading with Russia. Marks & Spencer also announced that it had halted shipments to its Russian business run by franchisees.

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