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Birmingham Post
Birmingham Post
Business
Jon Robinson

Online fashion giant Boohoo suspends sales in Russia after invasion of Ukraine

Fast fashion giant Boohoo has suspended its sales in Russia and closed its websites in the country following the military invasion of Ukraine.

The Manchester-headquartered company said its sales in Russia are "not material" and total less than 0.1% of its group revenues.

Boohoo's move mirrors decisions made by retail rivals such as Asos and Next in recent days.

READ MORE: Senior figures at NatWest, Trainline and TalkTalk receive Boohoo shares boost

A statement issued to the London Stock Exchange said: "Boohoo is deeply concerned about the tragic developments in Ukraine.

"Immediately following the invasion, the group suspended sales to Russia, and also closed its Russian trading websites.

"Sales made by the group into Russia are not material, totalling less than 0.1% of group revenues."

The company also confirmed it will provide a trading update for the three months and 12 months ended February 28, 2022 on March 10.

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