Russia news

14 January 2013
X5 Retail Group has announced its preliminary sales results for 2012, amidst further management changes. Three key management changes At last week’s Board Meeting, the acting CEO Stephan DuCharme was made statutory CEO, subject to approval at the AGM in April. Kieran Balfe, X5’s CFO handed his resignation in, effective as of March 2013 and Sergey Piven will become the new CFO, having pr...
10 January 2013
Russian retailer, Magnit, has announced double digit sales growth in its preliminary unaudited results for 2012 An encouraging year for Magnit The sales, of RUB 448,486m, reflect an increase of 33.6% compared to 2011. The retailer has consistently reported strong results throughout the year - +33% in H1, +36% in Q3 . New stores helping drive growth An impressive store opening rate ...
03 January 2013
X5 Retail Group has opened a Perekrestok supermarket, in Moscow, with products marked with RFID tags. Extensive use of RFID technology According to press reports, the 'Perekrestok. Magazin Buduschego' (Perekrestok. Store of the Future) outlet opened at the end of December and is a joint venture between X5 , Sintronics, and the Russian nanotechnology company Rosnano.  The 234 sq m store ...