- Nike Inc NKE has not renewed agreements with its largest franchisee in Russia, Reuters reported, quoting Vedomosti daily newspaper.
- The U.S. sportswear maker suspended its Russia operations temporarily in March due to Russia's invasion of Ukraine.
- The head of Inventive Retail Group (IRG), which operates Nike-branded stores in Russia, reportedly said Nike was no longer supplying goods to Russia.
- Inventive Retail Group’s subsidiary, Up And Run, operates 37 Nike stores across Russia.
- Price Action: NKE shares closed lower by 1.26% at $107.26 on Tuesday.
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