News

The largest European retailer Carrefour announced that it leaves the national market after a short 4-month presence as it lacks prospects for sufficient growth. This unexpected statement followed a decrease in quarterly sales and rumours about the pressure of shareholders who demanded dumping shares on the markets of countries with developing economy.

Carrefour is already looking for buyers to sell their shops in Moscow and Krasnodar. The shop in Lipetsk scheduled for opening at the end of the year was just rented, so in this case they will just refuse the space provided. At the ceremony of opening the shop in Moscow in June, which cost EUR 8 million (the same amount was invested in the shop in Krasnodar), Thierry Garnier, Managing Director of Carrefour Group, said that they chose the best time to go on the Russian market and are going to stay here for a long time.

Strange though it may seem, according to company’s representatives, this unexpected escape does not go against the strategy of the retailer, who is trying to gain a leading position in its field and a long-term profit growth.