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March 7, 2022updated 23 Mar 2022 1:26pm

Fast Retailing continues Russian operations amid Ukraine invasion

Zara, Prada and Asda are among other retail companies suspending their sales in Russia.

Understand the impact of the Ukraine conflict from a cross-sector perspective with the Global Data 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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Japanese holding company Fast Retailing has reportedly decided to continue its operations in Russia despite several other retailers choosing to exit or temporarily suspend sales in the country due to its invasion of Ukraine.

Bloomberg reported that the company’s chairman, president and CEO Tadashi Yanai said the conflict ‘should not deprive humans of their basic needs’.

Yanai was quoted as saying: “Clothing is a necessity of life. The people of Russia have the same right to live as we do.”

Fast Retailing, which operates 50 Uniqlo stores in Russia, said that it would ‘continue to monitor the situation’ in the country.

The company also announced it would donate $10m and 200,000 items of clothing to the United Nations’ (UN) refugee agency to support those affected by the conflict.

Yanai added: “There should never be war. Every country should oppose it.

“This time, all of Europe clearly opposes the war and has shown its support for Ukraine.

“Any attempt to divide the world will, on the contrary, strengthen unity.”

In a separate development, Zara owner Inditex has temporarily closed all 502 of its stores in Russia, as well as its online operations in the country.

Italian luxury label Prada has also announced the suspension of its retail sales in Russia.

Puma has halted the operations of its 100 stores in the country after initially suspending deliveries to it.

UK-based supermarket chain Asda is removing products of Russian origin from both its stores and its online channels, while British consumer co-operative Co-op has removed Russian-made vodka from its retail shelves.

Last week, a number of leading fashion retailers, including H&M, ASOS and Nike, temporarily halted sales in Russia in response to the invasion.

US-based off-price department retailer TJX Companies (TJX) also announced plans to divest a stake in Russian off-price retail chain Familia.

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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.