Boohoo suspends sales into Russia

Online fashion conglomerate Boohoo Group confirmed on Thursday that it had suspended sales into Russia, in the wake of the country’s violent invasion of Ukraine.

The AIM-traded firm said sales made by the group into Russia were “not material”, making up less than 0.1% of group revenues.

“Boohoo is deeply concerned about the tragic developments in Ukraine,” the board said in its statement.

“Immediately following the invasion, the group suspended sales to Russia, and also closed its Russian trading websites.”

Boohoo said it would update the market on its trading for the three and 12 months ended 28 February on 10 March.

At 1414 GMT, shares in Boohoo Group were down 4.44% at 78.72p.