All Russia articles – Page 7
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News
Euroset acquires 446 stores
Mobile phone retailer Euroset has acquired 446 stores from rival Svyaznoy. The company will immediately proceed with rebranding the stores, which include 70 in Moscow, to Euroset and Beeline.Euroset president and chief executive officer Alexander Malis said: “Our goal was to acquire the most attractive Svyaznoy stores that generate most ...
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News
Net retail sales increase at X5
Grocery giant X5 said consolidated net retail sales increased by 41% to RUB112.2bn (£2.44bn) in the second quarter of the financial year.The impressive performance was attributable to X5’s supermarket chains, Perekrestok and Pyaterochka which saw sales up 18% on a like-for-like basis. During the quarter, X5 added 138 net new ...
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News
Dixy Group revenue increases 19.4% to £1.4bn
Dixy Group posted a 19.4% increase in its 2010 revenues to RUB64.7bn (£1.4bn).Like-for-like sales grew by 2.8%, boosted by strong like-for-like growth in the Urals, which were up 5.5%.The grocer closed the year with 646 stores, including 623 Dixy supermarkets, 15 Megamart hypermarkets and eight Minimart stores, located in three ...
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News
Walmart is to close office in Moscow
Walmart is to close its office in Moscow. International chief executive Doug McMillon said: “The Russian market is a compelling retail opportunity and we believe that Russian consumers could benefit from Walmart’s value proposition.“Since we have decided to enter the market through acquisition, not greenfield development, and since there is ...
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News
X5 Retail Group to acquire Kopeika
X5 Retail Group has announced that it has signed an agreement to acquire Kopeika in a transaction with a total enterprise value of RUR51.5bn (£1.05bn) including assumption of debt.X5 Retail Group has acquired a strong network of Kopeika price-oriented supermarkets which will be rebranded to the Pyaterochka banner. The transaction ...
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NewsWalmart closes Moscow office
Walmart is to close its office in Moscow, but said that it remains interested in entering the Russian market through “an attractive acquisition”.
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News
X5 Retail Group to acquire Kopeika
X5 Retail Group has signed an agreement to acquire Kopeika in a transaction with a total enterprisevalue of RUR51.5bn (£106bn) including assumption of debt.As a result of the transaction, X5 will reinforce its number one position in the Russian retail market, mainly in Moscow and the Moscow region where Kopeika ...
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News
X5 Retail Group launches provincial format under Pyaterochka-Maxi
X5 Retail Group has launched a new small town/provincial format operating under the Pyaterochka-Maxi banner in its domestic market. The first store opened at the Avtobus shopping centre in Syzran, in the Samara region.Pyaterochka-Maxi is a superstore-sized warehouse club with a sales area of 38,000 sq ft. It offers 7,000 ...
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AnalysisA world of international retail opportunities
Emerging markets globally have retail potential, but could any be the new China? By Tim Danaher
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News
X5 Retail Group acquisition of Kopeika may not go ahead
Despite having received approval from the Russian Anti Trust Office to acquire Moscow-based retail chain Kopeika, X5 Retail Group has said that the acquisition may not go ahead. Initially Kopeika aimed to sell its stake to X5 Retail Group at the beginning of October for an estimated $1.5bn (£1bn) including ...
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News
Saturn opens its first store in Russia
Metro Group-owned consumer electronics retailer Saturn has opened its first store in the country. The 5,060 sq ft store is located in Moscow’s Vegas Mall, the country’s largest shopping centre. A second Saturn store is scheduled for Voronezh in late 2010 and several other stores are being planned. Metro Group’s ...
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News
M.Video H1 sales up 7%
Consumer electronics chain M.Video’s retail sales increased almost 7% to RUB41bn (£866m) for the first half of 2010.M.Video’s net profit more than doubled to RUB518m (£10.9m).The increase in net profit is due to lower financing costs during 2010. President and chief executive Alexander Tynkovan said: “Customers are feeling more positive ...
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News
Magnit revenue up 31.84%
Food retailer Magnit has reported revenue grew 31.84% year-on-year to RUB103.66bn (£2.2bn). The growth was underlined by new store openings as well as like-for-like sales growth of 4.93%. Magnit’s hypermarkets outperformed supermarkets and neighbourhood stores, showing like-for-like sales growth of 14.16%.
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News
X5 seeks approval to acquire Kopeika
X5 Retail Group has applied to the Federal Anti-Monopoly Service to acquire Moscow-based retailer Kopeika and its subsidiaries, the authority has said. X5 Retail Group chief executive Lev Khasis said the application was “a technicality”, necessary for future merger negotiations. Kopeika, which is owned by Uralsib bank head Nikolai Tsvetkov, ...