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March 3, 2022

Fashion retailers suspend sales in Russia amid Ukraine crisis

The list of retailers deciding to temporarily halt business operations in the two countries continues to grow.

Understand the impact of the Ukraine conflict from a cross-sector perspective with the GlobalData Executive Briefing: Ukraine Conflict

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
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A number of leading fashion retailers have temporarily halted sales in Russia following the country’s invasion of Ukraine.

Swedish fashion group H&M announced that it will suspend all sales in Russia, saying it is ‘deeply concerned’ about the situation and ‘stands with all the people who are suffering’.

Russia is the company’s sixth largest market, accounting for 4% of its group sales in the fourth quarter of last year.

H&M has expanded its physical presence in the country to 170 stores, even while closing brick-and-mortar outlets in other countries.

The announcement comes after the company suspended its store operations in Ukraine to ensure the safety of its customers and colleagues.

In a statement, the company said: “The situation is being continuously monitored and evaluated. Representatives of the company are in dialogue with all relevant stakeholders.

“H&M Group cares for all colleagues and joins all those around the world who are calling for peace.

“Clothes and other necessities are being donated by the company. H&M Foundation has also made donations to Save the Children and to UNHCR.”

In addition to H&M, British online fashion retailers ASOS and Boohoo have both suspended sales in Russia and Ukraine as the conflict intensifies.

ASOS has paused its sales in Ukraine, deeming it ‘impossible’ to serve customers in the country.

Sports apparel brand Nike has also made merchandise purchases on its website and mobile app unavailable in Russia due to uncertainty in fulfilling deliveries in the country.

The West Auckland Trusts, an alcohol retail chain in New Zealand, recently removed all Russian products from its store shelves in response to the invasion.

The list of retailers taking such measures continues to grow as trading in the two countries has become more difficult due to issues with the movement of goods, as well as several sanctions being imposed on Russia.

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.