High-risk Russian retail remains promising prize

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Summary: The surprise announcement that French retail giant Carrefour will exit Russia throws into sharp relief the number of challenges facing retailers in the market. While growing disposable local income had fostered the development of modern retailing, the dramatic impact of the economic downturn has put the spending power of Russian consumers under pressure. Retailers operating in the market have come in for a bumpy landing. Nevertheless, Russia still offers the greatest long-term growth prospects in Europe. Katy Humphries reports. Read the complete article…