British clothing-to-food retailer Marks and Spencer on Wednesday announced a full exit from Russia following the country’s invasion of Ukraine. After halting product shipments to Russia at the start of March, Marks and Spencer said it had decided “to fully exit” its Russian franchise run by Turkish conglomerate Fiba Group. The exit, plus disruption to M&S operations in Ukraine run also by franchisee Fiba, is costing the British company £31 million ($39 million, 36 million euros). “Unfortunately, our Ukrainian business has also been partially closed as a result of war impacts, and we are working with our partner to reopen as and when possible,” the company added in a statement. An M&S spokeswoman confirmed to AFP that the group’s “brand will no longer be used in Russia”. Its exit from Russia comes also after Marks and Spencer last year shut more than half its stores in France as Brexit affected supplies of fresh and chilled products. M&S on Wednesday said it had taken a charge of £10.3 million following the French shakeup.
India
Adultery in armed forces: Supreme Court says disciplinary actions must
New Delhi (TIP)- Stating that adultery creates pain in a family and should not be treated lightly, the Supreme Court on Thursday, September 29, said that the armed forces must have some kind of mechanism […]
NY/NJ/CT
Legislators-Elect Davis and Koslow Ring in Holiday Season At Nassau Coliseum Toys for Tots Drive
UNIONDALE, N.Y. (TIP): Nassau County Legislators-Elect Scott Davis (D-Rockville Centre) and Seth Koslow (D – Merrick) rang in the holiday season at one of the nation’s largest one-day Toys for Tots collection drives, which was […]
Science & Technology
Safeguard yourself from phishing attacks
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