CARREFOUR to open own stores in Russia

According to unconfirmed reports in the Russian press this morning, Carrefour will open stores under its own banner in the country, rather than entering through acquisition as has been predicted. Reportedly Carrefour has already bought a plot of land and has made arrangements to rent retail space in Rostov-on-Don and Krasnodar in southern Russia, and plans to open its first hypermarket at the end of this year. A Carrefour spokeswoman confirmed the company's intentions to be present in Russia, but said that "the details are yet to be disclosed."