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French Retailer Auchan Sticks to Russia Despite Demand Slowdown

  • Auchan expects Russian unit to be unprofitable in 2022
  • Retailers such as LVMH’s Sephora have left Russia entirely

Auchan Retail plans to keep its Russian operations going even though the division is likely to be unprofitable and the country’s invasion of Ukraine continues amid global condemnation. 

The French grocer is experiencing a “marked slowdown in activity” in Russia that began in the second quarter, Auchan Retail Chief Financial Officer Ludovic Delcloy told analysts and journalists during a call Tuesday.