(Bloomberg) -- Starbucks Corp. will exit Russia completely, marking the latest corporate withdrawal from the country after its invasion of Ukraine. Most Read from BloombergWalmart’s Troubles Should Have Everyone on High AlertBroadcom in Talks to Acquire Cloud Company VMwareStocks Rise, Bonds Fall as Risk Appetite Returns: Markets WrapBiden Misspeaks on Taiwan, Says US Military Would InterveneA $5 Trillion ‘Wealth Shock’ Is Cracking Americans’ Nest EggsIn March, Starbucks said its licensed partne
McDonald's last week said it was selling its restaurants in Russia to its local licensee Alexander Govor to be rebranded under a new name, but will retain its trademarks. Seattle-based Starbucks has 130 stores in Russia, wholly owned and operated by its licensee Alshaya Group, with nearly 2,000 employees in the country. Starbucks did not provide details on the financial impact of the exit.
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