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Nike Leaves Russia Permanently Due To Ukraine Invasion

  • CNBC, Thursday, June 23, 2022 8:12 PM

Nike plans to permanently shut down its business ventures in Russia over the country’s ongoing invasion of Ukraine. In an emailed statement to CNBC, the company confirmed the plans, saying its main priority is to support employees in the country in the coming months. “For Nike, which gets less than 1% of its revenue from Ukraine and Russia combined, the move is largely symbolic rather than material to its results,” per CNBC.

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