Russia news

04 February 2014
Kesko, Finland’s second largest grocery retailer, has released its 2013 annual results with net sales down 3.8% to €9.3bn, although net sales grew by 1.9% in the food trade to €4.4bn. Food trade growing behind the market Despite growth of 1.8% in the food trade, Kesko acknowledged that food sales are growing behind the market. Other areas of the business struggling Elsewhere in the organ...
31 January 2014
Finland's S Group has released its 2013 results, with total sales of €11.4bn, +1.2% versus last year . Supermarket sales grew by 3.5% while performance was weaker elsewhere Supermarket sales grew by 3.5%, which includes sales in Latvia, Lithuania, Estonia and Russia, as well as S Group’s home market of Finland. S Group CEO, Taavi Heikkila commented the organisation’s sales were strongest ...
30 January 2014
Russian retailer O’Key has announced a top-level management reshuffle. After seven years, Patrick Longuet has left his position as CEO, although he will remain involved with the company as an advisor to the Board. His replacement is Tony Maher, who has been Chairman of the Board at O’Key since October 2013. Brings international grocery experience Irish-born Mr Maher has around 30 years'  e...
30 January 2014
Two of Russia’s leading grocery retailers, Magnit and O’Key, have released preliminary financial results for Q4 2013 and for the full year, with both businesses reporting rapid expansion of both store portfolios and sales. Growth despite economic slowdown The Russian economy slowed down sharply in 2013 and consumer demand slowed down too; Magnit and O’Key have reported good growth in an...
23 January 2014
Russia-based retailers O’Key and X5 have announced full year results for 2013, with both reporting positive results. X5 sees strong performance in Q4 Over 2013 X5 enjoyed sales growth of 8.7%, although like-for-like sales rose by only 0.7%. The retailer’s performance in its fourth quarter was stronger than the whole year, with sales up 11.9% and like-for-like sales up 3.9%. X5 said that durin...
20 December 2013
Finland’s largest grocery retailer has appointed Taavi Heikkila as its new CEO. This follows the resignation of former CEO, Kuisma Niemela in September. Since this time, Antti Sippola, Business Director has been acting CEO for the retailer. Heikkila held a variety of senior roles within S Group previously Prior to his latest appointment, Heikkila was CEO of Cooperative Hämeenmaa, one of the co...
12 December 2013
Metro Group says its transformation is showing effect, and has reported a sales increase of 0.9% for its 2013 short financial year, running from 1 January to 30 September 2013. Faced economic challenges this year Despite continued challenging conditions internationally, EBIT before special items was up 3.1% for the short year, comparing it with the first nine months of 2012. Olaf Koch, Ch...
05 December 2013
Auchan does not plan any new mergers and acquisitions in Russia in 2014, according to its country director Jean-Pierre Germain, quoted in local press. Maintaining expansion via organic growth According to the report, Mr Germain said acquiring and transforming stores would not be difficult, however making them into a true Auchan concept is the real challenge. In addition, no store networks ...
29 November 2013
Kesko, Finland’s second largest grocery retailer has launced an online shopping service in Helsinki and Vantaa. Launch follows successful trials K-Market Ruoholahti in Helsinki has trialled online grocery retailing, while other Kesko stores have offered collection and delivery services. In April 2013, Kespro launched a home delivery service in Helsinki, operating 250 deliveries daily. Cus...
29 November 2013
Russian pharmacy chain 36.6 has announced that it will merge with rival chain A.V.E Consolidation in a fragmented sector The major shareholders in 36.6 Artyom Bektemirov and Sergei Krivosheev have agreed with the owners of A.V.E to merge their businesses. The deal will be funded by the issue of new shares. The combined business will create Russia's largest pharmacy chain with over 900 ou...