Russia news

26 July 2019
Magnit launched a 12-month transformation programme in September 2018. A key aim of the strategy is to return its like-for-like (LFL) performance to growth, following two years of decline. It is looking to do this by developing a new customer value proposition (CVP), which puts a strong focus on the shopper, and a refined pricing and promotional structure. It reached that aim when it reported L...
25 July 2019
Germany-based Metro reported like-for-like sales increased by 3.4%, while total sales rose by 2.8% to €7.6bn (US$8.47bn) in its third quarter. The company said the growth was driven by all regions, excluding Russia. EBITDA, excluding earnings contributions from real estate transactions, totalled €316m (US$351.2m) in the same period, a rise of €11m on the previous year. Delivery sales account f...
10 June 2019
Joint ventures and partnerships by some of Russia’s leading ecommerce retailers is evolving the channel’s service levels. Alibaba and Yandex are forming partnerships with various companies to develop their online shopping offer and improve their services. Such a move is encouraging competing ecommerce retailers in Russia, such as Ozone, to enhance theirs too. Alibaba signs strategic partners...
22 May 2019
Netherlands-based SPAR International reported sales rose 5.4% globally to €35.8bn. The organisation said entry into four new markets, the addition of 335 new stores and the continued focus on its ‘Better Together’ strategy had underpinned the pace of its growth. 2018 ‘an exceptionally strong year for SPAR’ Discussing the results, SPAR International’s managing director, Tobias Wasmuht, descr...
09 May 2019
Germany-based Metro said like-for-like sales rose by 1.2% in its second quarter, with total sales rising by 0.2% in the same period, at constant exchange rates, to €6.75bn. The company said the results were driven by a positive performance in Eastern Europe, excluding Russia, and Asia. Metro noted the impact of ‘ the shift of the Easter business to April and thus to Q3 ’. Delivery business inc...
07 May 2019
The three leading Russian retailers X5, Magnit and Lenta reported above market sales growth for the first quarter of 2019. Russia’s Ministry of Economic Development lowered its forecast growth of total national retail sales for 2019 from 1.7% to 1.6%. This is significant drop from the 2.8% growth rate reported in 2018. The three retailers continue to consolidate the market as they grow sales at...
30 April 2019
Both companies reported a decrease in group net sales during the first quarter. From a retail point of view, Kesko said it performed much better and gained market share, thanks to growing in-store traffic and strong online sales. Kesko’s retail sales grow by 1.5% Kesko released its first quarter sales, reporting net sales of €.,4bn, with like-for-like sales decreasing by 0.6%, partly due to...
11 March 2019
France-based Auchan said in its Retail division, revenue had fallen by 3.3% at current exchange rates (0.5% at constant exchange rates) to €50.3bn. It said on a like-for-like basis revenue fell by 2.4%. Revenue dropped in every region in which Auchan operates. France: revenue fell 1.3% Auchan said in FY2018, revenue fell 1.3% in its home market. It said it was affected strongly by the ‘yell...
13 February 2019
Germany-based Metro has reported its first quarter results saying total sales fell by 0.6% to €8.0bn. Metro said in local currency terms sales had risen by 2.1%, with the fall in sales ‘ due to the negative development of the Russian and Turkish currency ’. However, the company was able to report that like-for-like sales had risen by 2.3% during the period, with it noting this was ‘ mainly driven...
13 February 2019
Russia’s retail market in 2018 faced stagnant household incomes and food price inflation. This led shoppers to become more economical with their spending. As a result, retailers had to compete more for their share of spend in groceries, which has led to a slowing in real sales growth rates. We look at the 2018 full year results and highlight how the leading Russian retailers managed in the fac...