Magnit - food industry company news 
RUSSIA: Magnit "confident" on FY profits growth
31 January 2012
Russian retailer Magnit said it is "gaining confidence in the market" after booking an increase in full-year profits.
RUSSIA: Retailer Magnit sees Q4 sales slow
12 January 2012
Russian retailer Magnit has posted an 11% rise in underlying annual revenues, although its sales slowed in the fourth quarter of the year.
RUSSIA: Retailer Magnit reports mixed results
28 October 2011
Store opening costs have hit the bottom line at Russian retailer Magnit in the first nine months of the year, although it saw its EBIT rise.
RUSSIA: Magnit H1 profits up after Q2 recovery
24 August 2011
Russian grocery retailer Magnit has seen its profits increase in the first half of 2011 after a recovery in the second quarter.
RUSSIA: Former Tesco executive Martins to join X5
5 August 2011
Former Tesco and Casino executive Paul Martins is set to X5 Retail Group, Russia's largest retailer, as commercial director.
RUSSIA: Magnit director Ermolenko joins X5
2 August 2011
X5 Retail Group, Russia's largest retailer, has appointed Alexander Ermolenko from rival Magnit to oversee its supply chain.a
RUSSIA: Magnit H1 sales up 51%
11 July 2011
Russian grocery retailer Magnit today (11 July) reported a leap in first-half sales, driven by store openings.
RUSSIA: Magnit profit hit by higher costs
11 May 2011
Russian grocery retailer Magnit said today (11 May) that net income fell during the first quarter as margins were hit by higher fuel costs and consumer taxes.
RUSSIA: Magnit Q1 sales up
11 April 2011
Russian grocer Magnit saw sales rise during its first quarter, with its hypermarket format reporting the strongest gains.
RUSSIA: Magnit coy on talk of share offering
4 April 2011
Russian grocery retailer Magnit has remained coy on speculation that it may hold a share offering in the autumn to raise at least US$500m to finance investment.
RUSSIA: Magnit records FY sales increase
11 January 2011
Russian grocery retailer Magnit today (11 January) booked an increase in full-year sales.
RUSSIA: Magnit profits grow
22 October 2010
Russian grocery retailer Magnit's profits grew 22.3% in the first nine months of the year on the back of rising sales.
Comment: Is Russia resurgent?
18 October 2010
Russia, the world's 12th largest economy was hit hard by the global downturn. The drop in global manufacturing demand hit resource-rich Russia hard, which saw its GDP slump by 7.9% during 2009 in what was the country's worst recession in a decade.
RUSSIA: Magnit posts faster like-for-like sales growth
11 October 2010
Russian retailer Magnit has seen its like-for-like sales growth accelerate during the third quarter of 2010.
RUSSIA: Magnit revenues boosted by new stores
24 August 2010
Magnit has said that its first half revenues have jumped 31.84% year-on-year, as the company benefited from increased selling space, despite a fall in margins.
RUSSIA: Magnit LFL sales growth accelerates
12 July 2010
Russian retailer Magnit said today (12 July) that its like-for-like sales growth had accelerated during the second quarter of the year.
RUSSIA: Russian grocer Kopeika "in sale talks"
30 June 2010
Russian retailer Kopeika is in talks with two potential buyers while also eyeing a possible IPO, according to reports.
RUSSIA: Magnit lines up loans for expansion
30 June 2010
Magnit, Russia’s largest grocery chain in term of store numbers, plans to attract additional bank loans in the amount of RUB54.5bn (US$1.5bn) for its expansion plans.
RUSSIA: Magnit included on MSCI Index
27 May 2010
Russian grocer Magnit has been included in the MSCI Index.
RUSSIA: Store expansion boosts Magnit
17 May 2010
Russian grocer Magnit today (17 March) booked strong first-quarter sales gains, boosted by revenues from newly-opened stores and increased customer footfall.
RUSSIA: Magnit revenue up for Q1
12 April 2010
Russian grocery chain Magnit booked an increase in revenue for the first quarter, despite the number of store openings dropping from last year.
RUSSIA: Magnit “satisfied” with FY results
29 March 2010
Russian grocery chain Magnit said it is “satisfied” with its 2009 results as it booked an increase in full-year net income.
RUSSIA: Store expansion boosts Magnit sales
12 January 2010
Russian grocery chain Magnit saw revenues increase by nearly a third in 2009 boosted by the opening of 646 stores during the year.
RUSSIA: Store openings boost Magnit
9 December 2009
Magnit has reported that net profit almost doubled in the first nine-month of the year, boosted by growing demand at its new discount outlets.
RUSSIA: Magnit to use share offer for store roll-out
21 October 2009
Russian grocery chain Magnit has announced its intention to offer newly issued ordinary shares in the form of global depositary receipts.
RUSSIA: X5 hails success of multi-format approach
20 October 2009
X5 Retail, Russia's largest retailer by sales, today (20 October) suggested that its multi-format strategy had allowed it to circumvent some of the harsher effects that the economic downturn has had on consumer spending in the country.
High-risk Russian retail remains promising prize
19 October 2009
The surprise announcement that French retail giant Carrefour will exit Russia throws into sharp relief the number of challenges facing retailers in the market. While growing disposable local income had fostered the development of modern retailing, the dramatic impact of the economic downturn has put the spending power of Russian consumers under pressure. Retailers operating in the market have come in for a bumpy landing. Nevertheless, Russia still offers the greatest long-term growth prospects in Europe. Katy Humphries reports.
RUSSIA: Magnit posts 31% rise in sales
12 October 2009
Russian hypermarket operator Magnit posted a 31% increase in profit for the first nine months of the year.
RUSSIA: Magnit to list more shares overseas
8 October 2009
Russian hypermarket operator Magnit has received official permission to list a greater proportion of its shares on international exchanges.
RUSSIA: Magnit approves share issue
3 September 2009
Russian retailer Magnit announced today (3 September) that its board has approved the issue of 11.2m new shares through an open subscription.
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