Russia news

11 February 2016
Metro Group sales in Q1 2015/2016 declined by 1.3% to €17.1 bn due to the exchange rate developments – particularly relating to the Russian rouble. At local currency the sales grew by 0.1%. Metro Group achieved a slight increase in like-for-like sales of 0.1%. Like-for-like sales was up 0.2% at Metro Cash & Carry, making this 10th consecutive quarter with a positive sales trend. Like-for-...
03 February 2016
Finnish grocery retailer Kesko has released its financial statements for 2015, revealing that total net sales declined by 4.3% to €8,679m. Performance in Kesko’s grocery business declined by 1.7% to €4,673m. This was partly attributed to a drop in prices, with the retailer estimating that grocery prices in Finland have declined by 1%. Profitability drop in grocery trade At a total busi...
27 January 2016
Magnit’s revenue in 2015 grew by 24.5% to RUB951 bn (USD16 bn). The like-for-like sales grew by 6.2% in comparison to 14.5% in 2014. The net profit grew by 23.4% to RUB58.8 m (USD1 m) and profit margin was 6.2%. Magnit's capital expenditures were RUB65 bn (USD1 bn). The retailer opened a record number of 2,378 new stores (1,250 convenience stores, 29 hypermarkets, 58 Magnit Family supermarke...
26 January 2016
X5’s unaudited 2015 revenues grew by 27.3% to RUB804.1 bn (USD14.5 bn), while its like for like sales grew by 13.7%, partly driven by double digit food inflation. X5 almost doubled the number of store openings from 939 in 2014 to 1,537 stores and closed the year with 7,020 stores. As part of the ongoing rationalisation programme, X5 closed 62 Pyaterochka stores, 15 Perekrestok stores, one Kar...
06 January 2016
Coop Schweiz has reported group turnover of CHF25.9bn (EUR23.9bn) for 2015, down 4.6% in nominal terms, but up 1.4% after adjustments.  Hit by currency changes and price cuts The Swiss National Bank abandoned its currency peg to the euro in 2015, which had a significant effect on the market and its operators. Price reductions of some CHF200m (EUR184m) during the year also impacted on resul...
14 December 2015
With Ireland’s Topaz becoming its latest acquisition, we review how Canada’s Couche-Tard has evolved into a leading global convenience operator. Emerging from the shadows with a global convenience brand Outside of Canada, Couche-Tard as a brand name will be relatively unfamiliar. However, the mention of Circle K, its leading banner in the US, creates a much higher level of awareness, and w...
18 November 2015
Kesko, Finland’s second largest grocery retailer, is set to acquire competitor Suomen Lähikauppa, which operates 643 stores in Finland and had sales in 2014 of €999.2m. The acquisition is still subject to approval from the Finnish Competition and Consumer Authority. The transaction is structured as a share purchase for approximately €60m and is expected to be completed in the first half of 2...
04 November 2015
Auchan has been told to stop selling products in bulk and unpackaged food in Russia. Ban on bulk selling Consumer watchdog Rospotrebnadzor has imposed the ruling on Auchan, which covers products from tea to confectionery and dried foods. Auchan has long had self-discount or bulk buying aisles in stores, particularly in its French hypermarkets. They are popular as they allow customers t...
23 October 2015
Following reports that Auchan is developing a convenience banner in Russia, and last month's announcement of new stores in Vietnam, we look at its expansion plans elsewhere in Europe and in Africa. Testing convenience in Russia According to the Moscow Times the chief executive of Auchan Russia, Wilhelm Hubner, said the retailer has already opened four convenience stores in the Russian ...
08 September 2015
X5 Retail group has nominated a new CEO ’s Igor Shekhterman, while Stephan DuCharme will return to the Company’s Supervisory Board as its Chairman. Under Stephan Ducharme's management, X5 has successfully introduced a new Pyaterochka store concept and expanded this core store format in regions. New CEO - Igor Shekhterman X5 Retail Group today announced that Stephan DuCharme has decided t...