Carrefour slows development in Colombia as demand falls

03/25/2009 | Wall Street Journal, The

Almacenes Exito, the largest retailer in Colombia, drastically reduced its investment plans for this year about a month ago, and its largest rival, the Colombian division of France's Carrefour, has decided to follow suit. Frank Pierre, head of Carrefour's Colombian unit, said the company will open eight new locations rather than the 10 previously planned.

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