Markets/Russia/News

Russia news

01 April 2021
Magnit is in the middle of a business transformation programme. It is implementing six strategies to turn around its business and as it looks to support its dynamic growth strategy, and compete with other leading retailers in Russia. Since 2018 the retailer has reported an improving sales performance with a sales CAGR of 11.4% between 2018 and 2020, when compared to a 6.7% rate for the p...
25 March 2021
As part of its Capital Markets Day event in March 2021, Lenta announced it is to expand its small format network and online presence as it aims to double its revenue, to more than RUB1 tr (US$13.2 bn) by 2025. The aim is to capture a higher share of consumer spend through new channels that target a wider range of shopper missions, while still enabling it to focus on its core hypermarket business...
16 March 2021
A.S. Watson Group, the world’s biggest international health and beauty retailer, has recently announced its refreshed social purpose and 2030 vision for sustainability. Commitment to ‘put a smile on our customers’ faces’ Since the A.S. Watson Group is operating on a massive scale globally, it is determined to take stronger responsibility towards the customers they serve, as well as the envi...
08 March 2021
Auchan said in its 2020 financial year confirmed its ‘ successful turnaround ’ and the ‘ success of the Renaissance operational excellence programme as it reported its EBITDA rose 27% to €1.63 bn. However, the improvement in its profitability came despite Auchan Retail’s revenue falling 5.2% to €31.626 bn, although it remained stable, contracting by only 0.2%, in like-for-like terms. Flat rev...
11 February 2021
Germany-based wholesaler Metro reported sales were down 11.2% in local currency terms, to €6.3 bn. The company said, despite its performance being affected strongly by COVID-19 restrictions in many of its markets, it had outperformed its peers in its core markets of Germany, France, and Italy. Western Europe sees strongest effect from pandemic Metro said its operations had performed better ...
11 February 2021
Russia’s second largest grocery retailer, Magnit, has been investing strongly in the development of its physical formats as it looks to attract more shoppers. It is now investing online, a channel it has been reluctant to enter, with it only launching online in 2020. However, as it looks to drive growth Magnit is investing in several formats and online services to help it meet a wider range of sh...
28 January 2021
As Auchan sets out its plans for 2021 in Russia and embeds its multichannel strategy in Poland and Romania, we round up five developments from the retailer across central and Eastern Europe. Auchan to focus on modernisation in Russia According to reports in Finmarket, Auchan is not planning to open any stores in Russia in 2021. Instead, the retailer will focus on its current projects of mod...
27 January 2021
X5 has reported an improved performance in 2020, versus 2019, with it generating revenue of RUB1,975 bn (US$26.31 bn). The retailer saw total sales grew 14.3% year-on-year, while like-for-likes rose by 5.5%. Both rates improved on the previous year when the stood at 13.3% and 4% respectively. Although more than 81% of the growth was derived from the Pyaterochka banner, X5’ new businesses contr...
21 January 2021
Amongst all modern retail channels, the impact of COVID-19 from a global perspective, has varied the most in convenience. The channel, however, continues to offer a massive opportunity for retailers and suppliers globally, benefiting from longer term consumption trends such as smaller households and more consumers shopping locally. With this in mind, we have identified five themes that we expect ...
12 January 2021
France trade publication LSA has reported that Auchan Group has changed its management team to bring in new governance of the group with the appointment for each country of a president and vice-president. Management changes aimed at accelerating decentralisation process LSA, quoting a document, said the appointments are ‘ …a question of accelerating the move towards decentralisation by allo...