[Business] Marks & Spencer confirms full exit from Russia

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Image source, Getty Images

Marks & Spencer says it will fully exit the Russian market following the invasion of Ukraine.

The retail giant stopped shipments to Russia in March but previously said complex franchise deals prevented it from withdrawing completely, with about 50 shops still open.

But the firm said after negotiations it would fully exit its Russian franchise.

It came as M&S reported pre-tax profits of £522.9m for the year 2 April - up 29.7% on the previous year.

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