JD Sports stops trade with Russia

Retailer JD Sports has become the latest in a growing list of companies announce that it had stopped trading in Russia.

The Bury-headquartered company said that it “shocked and deeply concerned” by Russia’s invasion of Ukraine and “expresses the utmost sympathy for all Ukrainians.”

In a stock market update the group added: “JD confirms that it has ceased all trading in Russia across both its brand websites and wholesale channels.”

It said these represented less than 0.05% of annual revenues.

The company also confirmed that it has no facilities or employees in either Russia or Ukraine.

“In addition to many personal collections and activities from our colleagues across the Group, we will look to support those affected through our verified charity partners,” JD said.

“The conflict in Ukraine continues to generate grave concern and we look forward to reconciliation and the return to peace within the region.”

Earlier in the week, online fashion retailers Boohoo and Asos suspended trading with Russia.

Marks & Spencer also announced that it had halted shipments to its Russian business run by franchisees.