Starbucks Closes Russia Business Permanently: WSJ

• Starbucks Corp (NASDAQ:SBUX) is shutting down its business in Russia, the Wall Street Journal reported.
• The coffee giant has decided to permanently close operations in its 130 stores and would no longer have an operation in Russia.
• The company had suspended its licensee's Russian business on March 8.
• The report noted the company would continue to pay salaries to nearly 2,000 employees for six months.
• The Russia-Ukraine crisis has led to a volatile operating climate, forcing major corporations to shut shops permanently in Russia.
• McDonald's Corp (NYSE:MCD) said last week that it is selling its Russia operations.
• Price Action: SBUX shares are trading lower by 0.64% at $72.92 on the last check Monday.
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