Magnit sells local produce, has a CEO who meets with investors, and targets ordinary Russians. Fund investor concerns about Russia have led to some selling of Magnit lately, and fund managers warn that small investors might find the risks of investing in Magnit too big.» Read More
PARIS, July 31- Carrefour, the world's second-largest retailer, reported a 13.8 percent rise in first-half recurring operating profit to 833 million euros, driven by higher profitability in its core French business and in Brazil and Argentina, while China stayed under pressure.
*IPO restart depends on Ukraine, rouble- sources. DUESSELDORF, June 26- Metro Cash& Carry Russia German retailer Metro could resume seeking a share listing for its Russian cash-and-carry wholesale operation in September, having delayed the process in March due to the Ukraine crisis, sources close to the matter said.
*Uncertainty over India stance on foreign retailers. DUESSELDORF, May 5- German retailer Metro AG wants to step up expansion in India and is planning to have 50 wholesale stores in the country by 2020, up from 16 now, as part of a broader strategy for growth in emerging markets.
*Owned by Germany's third-richest man, Dieter Schwarz. Klaus Gehrig, chief executive of the Schwarz Group which owns Lidl, told German local newspaper Heilbronner Stimme that preparations to enter the United States were proceeding apace but the first stores were only planned for 2018. His comments were confirmed by a Lidl spokeswoman on Monday.
Brazil accelerates, Spain grows for 2nd consecutive quarter. PARIS, April 10- Carrefour, the world's second biggest retailer, said underlying sales growth quickened in the first quarter, driven by Brazil, its second largest market after France, while sales in austerity-hit Spain rose for the second consecutive quarter.
India has approved a $110 million investment plan by Tesco, paving the way for the British retailer to venture into Asia's third-largest economy.
Tesco will slash its China exposure by taking just 20 percent of a venture with a state-run company, a deal that underlines the travails foreign retailers have had in the Chinese market.
Wal-Mart entered India's supermarket sector in 2010 with a $100 million bet on a consultancy with no employees, no profits, and a scant $14,000 in revenue.