Carrefour has vowed to expand into Russia – less than a year after axeing its stores in the key developing market.
The French supermarket made its Russian debut in June 2009 but just four months later shelved its growth plans, saying it would focus only on markets where it could become a clear leader.
However, chief executive Lars Olofsson is now planning a return to the market. The retailer will also step up growth plans in emerging markets such as Brazil, China and Indonesia through a new Carrefour Planet format.
Carrefour, the world’s second-largest retailer, this week announced profits of €82m (£68.2m) for the six months to June 3.
The result marks a return to profitability for the group, which suffered a loss of €58m for the equivalent period last year.