Russians buy last goods from H&M and Ikea as stores wind down

&Tab;&Tab;<div class&equals;"wpcnt">&NewLine;&Tab;&Tab;&Tab;<div class&equals;"wpa">&NewLine;&Tab;&Tab;&Tab;&Tab;<span class&equals;"wpa-about">Advertisements<&sol;span>&NewLine;&Tab;&Tab;&Tab;&Tab;<div class&equals;"u top&lowbar;amp">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;<amp-ad width&equals;"300" height&equals;"265"&NewLine;&Tab;&Tab; type&equals;"pubmine"&NewLine;&Tab;&Tab; data-siteid&equals;"111265417"&NewLine;&Tab;&Tab; data-section&equals;"1">&NewLine;&Tab;&Tab;<&sol;amp-ad>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;<&sol;div><p>Russians are snapping up western fashion and furniture this week as H&amp&semi;M and Ikea sell off the last of their inventory in Russia&comma; moving forward with their exit from the country after it sent troops into Ukraine&period;<&sol;p>&NewLine;<p>Sweden-based H&amp&semi;M and Netherlands-based Ikea paused sales in Russia after the military operation began and are now looking to unload their stocks of clothing and furnishings as they wind down operations there&comma; saying the future is unpredictable&period;<&sol;p>&NewLine;<p>Ikea’s sales are online only&comma; while the H&amp&semi;M store at the Moscow shopping centre Aviapark saw a steady stream of young shoppers on Tuesday&period;<&sol;p>&NewLine;<p>The racks and shelves were well stocked in the clothing retailer&period;<&sol;p>&NewLine;<p>Nearby shops were closed&comma; including Zara&comma; Oysho&comma; Bershka&comma; Pull&amp&semi;Bear and Uniqlo&comma; while New Yorker&comma; Finn Flare&comma; Marks &amp&semi; Spencer and Mango were open&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;I will start looking at Russian brands&comma;” one H&amp&semi;M shopper&comma; who gave only her first name Anya&comma; said after emerging from the store&period;<&sol;p>&NewLine;<p>Another shopper&comma; who only gave his name as Leonid&comma; said he was &OpenCurlyDoubleQuote;very hurt” that H&amp&semi;M is closing down&comma; adding&colon; &OpenCurlyDoubleQuote;A good store is leaving&period;”<&sol;p>&NewLine;<p>Both companies are making workers redundant as they scale down business in Russia&period;<&sol;p>&NewLine;<p>H&amp&semi;M said on Tuesday 6&comma;000 employees will be affected and it was working on details of offering continued support in the coming months&period;<&sol;p>&NewLine;<p>Ikea said in June that many workers will lose their jobs and it has guaranteed six months of pay for them&comma; as well as core benefits&period;<&sol;p>&NewLine;<p>It said this week it has 15&comma;000 workers in Russia and Belarus&comma; but did not immediately confirm how many would be made redundant&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;We are deeply saddened about the impact this will have on our colleagues and very grateful for all their hard work and dedication&comma;” H&amp&semi;M Group CEO Helena Helmersson said last month&period;<&sol;p>&NewLine;<p>Many western companies promised to leave Russia after it sent troops into Ukraine&comma; taking months to wind down operations and often selling holdings to Russian firms&period;<&sol;p>&NewLine;<p>McDonald’s sold its 850 restaurants to a Russian franchisee owner&comma; who is moving to reopen them under the name Vkusno-i Tochka&period;<&sol;p>&NewLine;<p>British energy giants Shell and BP are taking billions of dollars in charges to exit investments and holdings in Russia&period;<&sol;p>&NewLine;<p>Meanwhile&comma; some western companies have remained in Russia or are partially operating&period;<&sol;p>&NewLine;<p>French-owned home improvement retailer Leroy Merlin has kept open its 112 stores in Russia&comma; for example&comma; while Pepsi&comma; Nestle and Johnson &amp&semi; Johnson are supplying essentials like medications and baby formula while halting nonessential sales&period;<&sol;p>&NewLine;<p>H&amp&semi;M said it expects costs from leaving Russia to reach about 2 billion Swedish kronor &lpar;£162&period;7 million&rpar;&comma; which will be included as one-time costs in its third-quarter earnings this year&period;<&sol;p>&NewLine;<p>McDonald’s sold its 850 restaurants to a Russian franchisee owner&comma; who is moving to reopen them under the name Vkusno-i Tochka&period;<&sol;p>&NewLine;<p>British energy giants Shell and BP are taking billions of dollars in charges to exit investments and holdings in Russia&period;<&sol;p>&NewLine;<p>Meanwhile&comma; some western companies have remained in Russia or are partially operating&period;<&sol;p>&NewLine;<p>French-owned home improvement retailer Leroy Merlin has kept open its 112 stores in Russia&comma; for example&comma; while Pepsi&comma; Nestle and Johnson &amp&semi; Johnson are supplying essentials like medications and baby formula while halting nonessential sales&period;<&sol;p>&NewLine;<p>H&amp&semi;M said it expects costs from leaving Russia to reach about 2 billion Swedish kronor &lpar;£162&period;7 million&rpar;&comma; which will be included as one-time costs in its third-quarter earnings this year&period;<&sol;p>&NewLine;<p>It can be difficult to tell when stores in Russia are closed&period;<&sol;p>&NewLine;<p>At the famous Gum department store lined with shops in Red Square&comma; most of the closed storefronts still have the lights on and a clerk or guard inside&period;<&sol;p>&NewLine;&Tab;&Tab;&Tab;<div style&equals;"padding-bottom&colon;15px&semi;" class&equals;"wordads-tag" data-slot-type&equals;"belowpost">&NewLine;&Tab;&Tab;&Tab;&Tab;<div id&equals;"atatags-dynamic-belowpost-68cd1f524adfd">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<script type&equals;"text&sol;javascript">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback &equals; 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