All Russia articles – Page 5
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AnalysisInternational analysis: Russia’s Magnit on course to overtake grocery rival
Russian grocery retailer Magnit has doubled its profit to $807m (£513.2m) in comparison with 2011. The food retailer reported an impressive net profit margin of 5.57%.
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News
X5 Retail reports net retail sales growth
Grocery group X5 Retail has reported preliminary consolidated net retail sales growth of 8.3% to RUB490.09bn (£10.34bn) for its full year 2012.The group’s like-for-like sales decreased by 1.4%. Pyaterochka stores, X5’s core format, delivered only 0.5% like-for-like sales growth.Karusel hypermarkets also suffered - like-for-like sales fell 9.9% and revenues slid ...
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Leroy Merlin DIY group to invest in new stores
Adeo’s Leroy Merlin DIY group is to invest RUB15bn (£312.2m) to open 15 stores in the central regions of Russia.A pilot store will open in Tver by the end of January. The retailer will then plan the pace of openings in other cities.General manager Vincent Gentil told Russian newspaper Izvestia: ...
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Magnit reports unaudited financial results
Magnit has reported unaudited financial results. Consolidated net retail revenue increased to RUB448.49bn (£9.23bn) for the financial year 2012, up 33.6% on the previous year.Like-for-like sales grew by 8.5%, driven by 7.8% growth in basket size and a 0.6% increase in footfall.In contrast with 2011, hypermarkets outperformed supermarkets and convenience ...
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Metro Properties plans Russian store openings
German Metro Group-owned Metro Properties plans to invest about e150m (£121m) to open six or seven stores in Russia in 2013, said head of asset and expansion management Arthur Taubert. The 2013 investment for store openings in Russia has been cut due to the depressed macroeconomic situation worldwide, he said.Instead, ...
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Kesko opens first hypermarket
Finland-based retailer Kesko has entered the Russian grocery sector with its first hypermarket in St Petersburg under the K-Ruoka banner.Kesko aims to open four hypermarkets in the city by the end of 2013 and then expand to the Moscow region.Kesko also operates K-Rauta DIY and Intersport sports stores in Russia.
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AnalysisInternational analysis: Auchan agrees Real deal for central Europe growth
Last week, Metro Group revealed it had sold its Real hypermarket business in Poland, Romania, Russia and Ukraine – including real estate assets – to French grocer Auchan for e1.1bn (£893.4m).
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Auchan plans to invest in Russian market
French retailer Auchan plans to invest RUB1bn (£20.1m) next year to open five price-oriented compact hypermarkets in Russia under the Radouga banner.The stores will reportedly have a sales area of 53,820 sq ft and will feature 11,000 SKUs. After next year, Auchan intends to open five to 10 Radouga stores ...
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Grocer X5 takes steps to improve performance of Pyaterochka stores
Grocer X5 is to implement three measures to improve the poor performance of its Pyaterochka supermarkets.The retailer plans to unify its product assortment by offering 500 best-selling items in all stores.Pyaterochka will expand its fruit and vegetable range and improve its store layout and shopping experience. X5 also intends to ...
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Inditex plans 50 to 60 Russian store openings
Spanish clothing retailer Inditex aims to open 50 to 60 stores a year in Russia.The shops will open in major cities, with the first scheduled for 2013 in Vladivostok, in the Russian Far East.Inditex operates 274 stores in Russia at present – 58 under the Zara banner and the remainder ...
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Vester sells hypermarkets to Lenta and Magnit
Kaliningrad grocer Vester has sold its hypermarkets in European Russia to Lenta and Magnit, having been unable to find a single buyer.Lenta bought four stores in Yaroslav, Voronezh and Orenburg, while Magnit acquired three stores in Voronezh and Belgorod.Vester, which is owned by its creditor Sberbank Capital, will keep its ...
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X5 Retail Group reports net retail sales increase
X5 Retail Group reported a consolidated net retail sales increase of 10.4% to RUB115.88bn (£2.33bn) in its third quarter.The increase was driven by sales growth at Pyaterochka and to a lesser extent by store growth at its supermarkets and promotions.X5’s like-for-like sales in quarter three declined by 0.7%, driven by ...
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Auchan to open electronics and home appliances store
Auchan has revealed plans to open its first electronics and home appliances store in Russia later this month under the Elektrodiscont banner.The first shop will be in Altufevo, north of Moscow, and further stores will follow if it is a success. The shop will have a multichannel focus.Auchan also plans ...
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Media-Saturn acquires electronics etailer 003.ru
Germany-based Media-Saturn, part of the Metro Group, has acquired Russian electronics etailer 003.ru from founder Vladislav Oulendeev, subject to approval by anti-trust authorities.Media-Saturn chief executive Horst Norberg said: “Our objective is to position our new subsidiary in Russia as an inexpensive online retailer, similar to Redcoon in Western Europe.”
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X5 Retail Group chief executive resigns
Leading grocery retailer X5 Retail Group has disclosed that Andrei Gusev has resigned as chief executive. However, he will continue to work with the company in an advisory capacity.Board member Stephan DuCharme will assume Gusev’s role on a temporary basis. The change came at the same time as the retailer ...
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Metro Cash & Carry to launch online store
Metro Group-owned Metro Cash & Carry plans to launch an online store in the fourth quarter of this year.The service will be aimed at small offices with a product range consisting of office and cleaning supplies and tea and coffee.In August, Metro will begin testing the IT for the ecommerce ...
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X5 Retail Group appointed new format director
Grocer X5 Retail Group has appointed Frank Michael Mros as format director of discounter Pyaterochka. Mros has over 18 years of retail experience in Europe, previously serving as managing director of Schwarz Group-owned Lidl in Germany. He also led Lidl’s entry into Eastern Europe and was managing director of Lidl ...
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AnalysisRussia: Retail opportunities and challenges
Mamas & Papas has become the latest UK retailer to unveil expansion plans for Russia, attracted by the scale of opportunity. But building a business in the country is not always straightforward.
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Dixy plans store growth in 2012
Dixy Group chief executive Ilya Yakubson has revealed plans for a secondary public offering of $300m (£185m) in the second half of 2013. He added that Dixy plans to open 250 to 300 new stores this year.Dixy Group’s revenue in the first quarter grew by 93.1% to RUB34.7bn (£727m) thanks ...
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NewsAurora: Focusing on growth
The fashion group is driving success by focusing on multichannel and overseas growth.