Herbalife to suspend all Russia operations; stock falls to near 2-year low


Herbalife Nutrition Ltd. HLF, -0.21% said Friday it will suspend all operations in Russia and will no long ship products to the country, in response to Russia’s invasion of Ukraine. Th stock slipped 0.1% in midday trading, putting it on track for the lowest close since April 23, 2020. The nutritional supplements company said it had about 44,000 active distributors and 62 sales centers in Russia as of February, but it did not have any manufacturing operations as all products sold in Russia were imported. Herbalife, which joins a long list of companies that have suspended operations in Russia, said it will donate any profits earnings from Russia to support refugees from Ukraine. “We condemn the war in Ukraine and stand with the international community in calling for peace,” the company stated.

This article was originally published by Marketwatch.com. Read the original article here.

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