Multinational food retailers dip their toes in emerging markets
Carrefour, the world's second-largest retailer behind Wal-Mart Stores, beat its bigger rival to the punch when it cracked the Russian market last June. The celebration of Carrefour's first Russian store, a hypermarket in Moscow, was short-lived, however — just three months later, the company said it was pulling out of Russia. In a prepared statement, the company, which operates in more countries than any other retailer in the world, cited the “absence of sufficient organic growth ...
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