British retailer of children’s goods Mothercare announced the suspension of its activities in Russia, the company said.
“All business activity in Russia, including the supply of products, has been temporarily suspended. Our local business partner has confirmed that it will immediately suspend approximately 120 retail outlets as well as online sales.
Russia accounts for about 20-25% of the company’s global retail sales. Mothercare forecasts that the business could lose around £500,000 a month (approximately $700,000) in profits due to the shutdown. In addition, according to Reuters, customers will lose the ability to purchase products online.
According to Yale University scientists, as of March 9, since the start of the special military operation in Ukraine, 300 companies have already suspended or ceased operations in Russia, including energy companies, software developers, automakers, transport and logistics companies, chip and video card manufacturers.