Russia news

25 April 2013
K-Group sales fell by 6.9% in the first quarter, as the business continues to implement its turnaround strategy. Growth in grocery While total group sales were down, Kesko's grocery division performed much better, delivering growth of 3.5% at €1,045m. Kesko estimates this is roughly in line with market growth for Q1. During the period January-March it added three new stores and renovated an...
16 April 2013
Magnit has reported Q1 sales of RUB131.2bn. Encouraging start to the year In its unaudited results, the retailer has reported Q1 sales of RUB131.2bn which represents a 30.4% increase year-on-year. Like-for-like sales increased 4.8%. This strong performance marks the first time that Magnit has outperformed Russian rival, X5 . Aggressive expansion credited Magnit’s dominant Q1 resu...
12 April 2013
X5 has announced Q1 sales of RUR 126,296m representing an 8.1% year-on-year increase. Net sales up 8.1% X5 posted an 8.1% increase in Q1 net sales to RUR 126,296m. The 12.4% increase in selling space and 23.2% increase in the number of stores is being credited for this robust sales figure. However, like-for-like sales performance for the quarter is just 0.5%. Average basket spend increa...
11 April 2013
Russian retailer O’Key has announced a 5.3% sales growth in Q1 2013. Modest Q1 growth Net sales increased year-on-year by 17% in Q1 2013 to RUB30.8bn. Like-for-like revenue growth grew 5.3% during the quarter. Patrick Longuet, O’Key CEO, has stated that the retailer remains on track to meet its full year target. LFL revenue growth was driven by an increase in average basket spend of 5.0%....
11 April 2013
Russian retailer Lenta, which is St Petersburg-based, has outlined its plans for expansion into the Moscow province. Moscow a priority Lenta had already expressed an interest in extending its portfolio to Moscow; plans have now been confirmed. CEO Jan Dunning has stated that Lenta will open up to ten stores in Moscow over the next three to four years, with one or two expected this year an...
08 April 2013
Magnit is planning an aggressive expansion plan, opening almost 10,000 stores within the next five years. Convenience stores a focus The retailer is aiming to double the number of convenience stores that it operates to 12,000, and to boost the number of drugstores to 4,000. It also plans to increase the number of hypermarkets to 500 - almost quadruple its current total. Investment i...
25 March 2013
Speaking to the locally-based newspaper Vedomosti, a member of Rewe’s International Board, Janusz Kulik, said that the retailer was aiming to open 15 new stores in Russia in 2013. Russia is a priority market for Rewe Kulik went on to say that the retailer would continue to invest in Russia as it ‘is one of the priority markets for the group and provides good growth’. In 2012 Rewe spent €1...
20 March 2013
Metro Group's full year results conference today confirmed previously released figures for 2012, and gave a cautious but optimistic outlook for the year ahead. Modest growth in 2012 Metro confirmed that total group revenues rose a modest 1.2%, reaching €66.7bn for the full year 2012. Operating profit fell by 16.7% to €1.98bn, in line with its revised guidance. Performance was mixed between m...
14 March 2013
X5 Retail Group intends to increase sales by 11% in 2013. 11% is realistic, says Ducharme The group CEO, Stephan DuCharme, announced today that the Russian retailer is expecting an increase of 11% in sales this year and believes that, following on from 8% growth in 2012, this expectation is realistic. Organic growth Although sales growth has struggled somewhat following a strategy...
14 March 2013
Rewe Group has reported revenue growth of 2.7% in 2012, to €49.7bn, and revealed plans to invest €1.5bn in 2013. Modernisation will provide additional impetus this year Alain Caparros, group CEO, said Rewe again plans to invest more than €1.5bn to modernise up to 400 stores in Germany and abroad in 2013. This will include speeding up the conversion of Penny discount stores.  The 2013 ...