Nike Stores Remain Open in Russia over a Week after Closure Announcement

A customer is reflected in a shop window decorated with Nike store logo at the outlet village Belaya Dacha outside Moscow, Russia, April 23, 2016. (Reuters)
A customer is reflected in a shop window decorated with Nike store logo at the outlet village Belaya Dacha outside Moscow, Russia, April 23, 2016. (Reuters)
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Nike Stores Remain Open in Russia over a Week after Closure Announcement

A customer is reflected in a shop window decorated with Nike store logo at the outlet village Belaya Dacha outside Moscow, Russia, April 23, 2016. (Reuters)
A customer is reflected in a shop window decorated with Nike store logo at the outlet village Belaya Dacha outside Moscow, Russia, April 23, 2016. (Reuters)

Many Nike stores throughout Russia were open on Friday afternoon, according to checks made by Reuters, more than a week after the world's biggest sports retailer said it was temporarily closing down all its shops in the country.

At one of six Moscow stores Reuters reached by phone, an employee said: "We don't have information yet, but I think the store will be open for at least, like, for a month."

Nike said on March 3 that it would suspend operations at all its stores in Russia, joining several Western brands that did so in the wake of Moscow's invasion of Ukraine. Nike has roughly 100 stores in the Russian Federation, according to the store directory on its website, which showed that all of them were "open".

A Nike employee at the retailer's corporate offices in Russia told Reuters that many of its stores remained open. The employee said, however, that "Nike Factory Stores" had been temporarily shut.

Beaverton, Oregon-based Nike said the stores that were open are owned and operated by independent partners, and that it will soon update its store locator online to reflect Nike's closed owned and operated stores.

Days prior to its announcement that stores would temporarily close, Nike made merchandise purchases on its website and app unavailable in Russia and directed its customers in the country to brick-and-mortar stores instead. The company is offering continuity pay for its employees in closed stores.



Fashion Commission, Saudi Retail Academy to Develop National Talent 

Fashion Commission, Saudi Retail Academy to Develop National Talent 
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Fashion Commission, Saudi Retail Academy to Develop National Talent 

Fashion Commission, Saudi Retail Academy to Develop National Talent 

The Saudi Fashion Commission signed a memorandum of understanding (MoU) with the Saudi Retail Academy to develop national capabilities and boosting specialized skills in the fashion and retail sectors, reported the Saudi Press Agency on Monday.

The MoU aims to support local talent and the creation of sustainable employment opportunities in this vital industry. It stems from the two sides’ keenness to cooperate in the fields of training and professional development.

The agreement was signed on the sidelines of the graduation ceremony of the academy’s first cohort.

The Fashion Commission focuses on developing local talent, transferring global expertise, and advancing the fashion sector in the Kingdom, while the Saudi Retail Academy is a non-profit institute and a specialized entity in training and development in the retail field and in building professional competencies and skills related to retail and sales.

The MoU aims to establish a framework for cooperation to design and implement specialized training programs that boost the readiness of national cadres and qualify them according to the highest professional standards, with a focus on developing skills in sales, customer experience, and store management to meet labor market requirement and the needs of the growing fashion sector.

Fashion Commission chief executive Burak Cakmak said that developing human capital is a fundamental pillar for the long-term growth of the Kingdom’s fashion sector.

The partnership reflects the commitment to strengthening the capabilities that form the foundation of a competitive and sustainable industry through investment in specialized skills within retail and customer experience, enabling brands to grow and supporting the sector’s confident evolution, he added.

Saudi Retail Academy chief executive Hend Al-Dhaban stressed that the partnership embodies a shared vision to empower national talent and elevate professionalism in the retail sector.

The agreement will help channel training expertise to meet the specialized needs of the fashion sector and equip young men and women with the practical skills required to succeed in the labor market, thereby boosting service quality and supporting localization targets and economic growth, she explained.

This cooperation is part of the Fashion Commission’s ongoing efforts to develop the fashion value chain through building strategic partnerships with specialized training and education entities, expanding professional opportunities for national talent, and linking education and training outputs with labor-market needs.

Through their partnership, the commission and the academy will help in building an integrated ecosystem that connects education, vocational qualification, and employment, bolstering the competitiveness of the fashion and retail sectors and supporting the objectives of Saudi Vision 2030 in empowering national cadres, localizing jobs, and improving quality of life.


Saudi 100 Brands Debuts Landmark Fashion Presentation at Saudi Cup 2026

The experience introduced global audiences to Saudi Arabia’s dynamic and growing fashion ecosystem - SPA
The experience introduced global audiences to Saudi Arabia’s dynamic and growing fashion ecosystem - SPA
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Saudi 100 Brands Debuts Landmark Fashion Presentation at Saudi Cup 2026

The experience introduced global audiences to Saudi Arabia’s dynamic and growing fashion ecosystem - SPA
The experience introduced global audiences to Saudi Arabia’s dynamic and growing fashion ecosystem - SPA

The Fashion Commission launched its Saudi 100 Brands showcase at the Saudi Cup 2026, marking a historic milestone for the world-renowned equestrian event at King Abdulaziz Racecourse in Riyadh.
The collections celebrate Saudi heritage by blending traditional and contemporary design. Jewelry and accessory brands also exhibited throughout, providing Saudi designers with a platform to reach a broader global audience. These showcases emphasize the fusion of heritage and modern design, offering a new perspective on the Kingdom's creative identity.
The Saudi 100 Brands program, a flagship initiative of the Fashion Commission, supports emerging designers by providing tools, expertise, and platforms to grow their global presence. This collaboration with the Saudi Cup underscores the importance of celebrating cultural heritage while advancing design innovation.

Each piece in the exhibition incorporates heritage motifs, textiles, and storytelling, reimagined through innovative design to appeal to modern and international audiences.

The exhibition aims to celebrate national identity, highlight local creative talent, and present the evolving direction of Saudi fashion, SPA reported.

Visitors explored the intersection of craftsmanship and cultural expression, discovering how designers honor tradition while advancing fashion design.

The experience also introduced global audiences to Saudi Arabia’s dynamic and growing fashion ecosystem.

This participation reflects the Fashion Commission’s vision to develop a thriving fashion sector rooted in cultural heritage and global ambition. By combining cultural narratives with innovative design, the commission enables Saudi fashion to contribute to global creative industries, nurture talent, and position Saudi brands for sustained success.


L’Oreal Shares Sink as Sales Miss Forecasts 

This photo taken on February 16, 2018 shows a board with the L'Oreal logo outside of the L'Oreal plant, in Lassigny. (AFP)
This photo taken on February 16, 2018 shows a board with the L'Oreal logo outside of the L'Oreal plant, in Lassigny. (AFP)
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L’Oreal Shares Sink as Sales Miss Forecasts 

This photo taken on February 16, 2018 shows a board with the L'Oreal logo outside of the L'Oreal plant, in Lassigny. (AFP)
This photo taken on February 16, 2018 shows a board with the L'Oreal logo outside of the L'Oreal plant, in Lassigny. (AFP)

L'Oreal shares fell heavily on the Paris stock market on Friday after the cosmetics giant posted sales that fell short of analyst expectations, stoking fears of weakness for its luxury brands and in the key Chinese market.

While revenues rose seven percent in the fourth quarter in Europe -- still the company's biggest market -- they edged up just 0.7 percent in North America and fell five percent in North Asia, which includes China.

Overall, sales were up 1.5 percent to 11.2 billion euros ($13.3 billion) in the final quarter of 2025 -- usually when the company benefits from strong holiday-fueled buying.

This was a marked slowdown from the 4.5-percent growth seen the previous year.

On a like-for-like comparison that excludes the impact of currency fluctuations, sales rose six percent, whereas the consensus forecast was around eight percent, analysts said.

The luxury division (Luxe) in particular, which includes high-end perfumes and make-up and is L'Oreal's biggest by revenue, saw a 0.5-percent sales slide in the fourth quarter, to 4.2 billion euros.

"We think the miss, led by North Asia and Luxe, will be a concern amid a vague outlook," said David Hayes, an analyst at investment bank Jefferies.

L'Oreal's stock was down 3.2 percent in morning trading, partly recovering from a drop of more than six percent at the open.

Net profit for the full year was down 4.4 percent to 6.1 billion euros.

Chief executive Nicolas Hieronimus said when he presented the results on Thursday that L'Oreal had achieved a "solid" performance "despite a context that was at the very least volatile and unfavorable".

For 2026, he said the company had to be "cautious and humble", although he expected "the beauty market to continue its acceleration" unless there was "a new surprise".

"We're going to have to intensify our efforts in terms of innovation to energize the market and win over customers," he added.