"The recent trend change in the Russian rouble as well as increasing risks to consumer sentiment and consumer spending from current tensions in the region point to higher risks to the short-term profitability contribution from Russia/CIS," management said in a new statement. "As a result, Management has decided to significantly reduce its store opening plan in the market for 2014 and 2015 and to further increase the number of store closures."

Shares of the $12 billion global shoe brand plunged by over 14% early in the European trading session. Markets across Europe are trading lower.

российские ватники останутся без любимой одежы похоже