Mothercare, the retailer of products for young children and their parents, has joined the list of multi-national companies halting business in Russia and warned it will be taking a big financial hit in the process.
The company revealed on Wednesday morning that its decision to suspend operations would result in a hit of up to a quarter of its usual global revenue. Shares fell by 25% in response.
It made the announcement hours after some of the world’s biggest consumer brands, including McDonald’s, Pepsi and Coca-Cola, bowed to intense pressure and revealed they would also halt trading in Russia over the invasion of Ukraine.
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