RUSSIA: Carrefour considers re-entering market - report
Carrefour's CEO Lars Olofsson said the company is considering re-entering Russia after pulling out of the country earlier this year, according to reports.
The FT reported that Olofsson said: "If we go back into Russia, it will be through an acquisition. I pulled out last year because you can't win with little guns when big cannons are against you."
Carrefour decided to exit the country in October last year, just four months after opening its first store in the country due to the absence of sufficient organic growth prospects" and "acquisition opportunities" that would have allowed the business to attain a "position of leadership" in the market.
Aside from the soundbites from the CAGNY investment conference in Florida this week, the last five days have been rounded out with results from Wal-Mart Stores, Kerry Group and Safeway Inc....
Canadian retailer Loblaw has appointed Carrefour executive Vicente Trius to succeed Allan Leighton as president of the business....
Carrefour, the world's second-largest retailer, has opened its first Carrefour Express store in Colombia....
Carrefour has signed a three-year supply deal with French beef processors Covial and Levesque and a group of 1,170 Limousine cattle breeders....
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