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Wal-Mart looks to return to Russia
United States
Friday 06 April 2012
MD
After leaving Russia in 2010, U.S. giant Wal-Mart is considering returning to the country.
Sales growth in emerging markets has offset lower sales in the United States for Wal-Mart.
Wal-Mart, No. 1 worldwide in retail is seeking to increase its sales outside its home market, as is its competitors. Russia had failed for Wal-Mart when it closed its office in Moscow in December 2010 following its failure to acquire in the Russian channel.
Now, European competitors, Auchan and Metro have become the third
and fourth largest retailers in the country. The Russian market, estimated at $300 billion, is promising. Cities are beginning to be better served by supermarkets and smaller cities are following suit.
Hiring a former director of the Russian chain X5 suggests that Wal-Mart is preparing to return to Russia. The question is when.
Hiring a former director of the Russian chain X5 suggests that Wal-Mart is preparing to return to Russia. The question is when.
source : chicago tribune com, reuters
