Magnit - food industry company news MagnitCompany news RSS feed

Customer numbers visiting X5RUSSIA: Retailer X5 sees LFL sales accelerate

11 April 2014

Russian retailer X5 Retail Group has reported a 6% rise in like-for-like sales for the first quarter of 2014, a faster rate of growth than seen in 2013.

RUSSIA: Retailer Magnit books 7% in Q1 LFLs

10 April 2014

Russian retailer Magnit saw like-for-like sales rise over 7% in the first quarter of 2014, it said today (10 April).

RUSSIA: Magnit full-year earnings rise on sales, margins

27 January 2014

Russian retailer Magnit reported an increase in operating profit for fiscal 2013, boosted by higher sales and stronger margins.

RUSSIA: X5 drives 2014 turnaround despite "ebbing" confidence

23 January 2014

Russian retailer X5 Retail Group has said that it will push ahead with plans to improve its performance in 2014 in the face of what it described as "ebbing" consumer confidence in the country.

RUSSIA: Magnit FY sales up but December slowdown hits shares

10 January 2014

Magnit, Russia's largest food retailer by revenue, has booked higher sales for 2013, although a slowdown in the fourth quarter caused its shares to fall today.

UPDATE: RUSSIA: Magnit DC to support space expansion

3 December 2013

Russian retailer Magnit has said its new distribution centre in Yaroslavl will support the expansion of its store network in the region.

RUSSIA: Magnit opens new distribution centre

3 December 2013

Magnit, Russia's largest retailer by sales, has said it will open a new distribution centre in Yaroslavl.

RUSSIA: Auchan outlines expansion plans for 2014

19 November 2013

Auchan has outlined plans to open ten to 14 stores in Russia in 2014 across its three different formats.

RUSSIA: Magnit posts "record" profit, lowers sales guidance

28 October 2013

Magnit, Russia's largest retailer by sales, said it achieved "record" profitability in the first nine months of the year but lowered its sales target for the full year.

FMCG in Russia: Domestic, international grocers battle it out in Russia

30 September 2013

Russia has been described as one of the most dynamically developing retail markets in the world. The advent of the recession, however, resulted in a slowdown in growth that Russia has not yet fully recovered from. While it is debatable whether Russia will fully re-establish the pace of growth it enjoyed before the credit crisis, the market is seen as an attractive one for FMCG companies.

RUSSIA: Retailer Magnit ups 2013 margin forecast

26 September 2013

Magnit, Russia's largest retailer by sales, has lifted a margin forecast for this year.

RUSSIA: Retailer X5 tight-lipped over link to rival Seventh Continent

23 September 2013

Russian retail giant X5 Retail Group has declined to comment on reports it may acquire Moscow-based competitor Seventh Continent.

RUSSIA: H1 profits up at retailer Magnit

23 July 2013

Half-year profits at Russian retailer Magnit jumped almost 40%, pushing its shares higher today (23 July).

RUSSIA: H1 sales up at retailer Magnit

10 July 2013

Half-year sales at Russian retailer Magnit jumped 30%, thanks to the contribution of new stores and signs underlying sales were also up.

Comment: Mixed news for Dixy in FY, Q1 updates

26 April 2013

Russian retailer Dixy has reported both its full-year financial results today and a sales update for the first quarter of 2013 - and the picture was mixed. Full-year margins came in well below market expectations, and the company's bottom line took a notable hit. However, the company seems to be off to a better start this year.

RUSSIA: Magnit records Q1 profit increase

23 April 2013

Russian retail giant Magnit has booked an increase in profits in the first quarter of the year.

The week ahead: ABF H1s; Unilever, Hershey, Premier Q1s

22 April 2013

A raft of companies report to the market next week, including UK-based food group Associated British Foods, which is set to unveil its half-year results. Data for the first quarter of 2013 will continue to come in, with Unilever, Hershey and Premier Foods plc among those set to publish numbers.

Quote, unquote: just-food's week in words

22 April 2013

The industry's first-quarter results continued to pour in last week and two of France's leading retailers, Carrefour and Casino revealed sales figures that got analysts talking. Carrefour appeared pleased with its domestic performance, while Casino was encouraged by the results of recent pricing initiatives. Elsewhere, Tesco finally confirmed its plans to exit the US and revealed it had received and was pursuing interest in the business.

Editor's choice: the highlights on just-food last week

22 April 2013

Major food manufacturers began to report their first-quarter results last week. Nestle came under scrutiny for its performance in emerging markets. A cautious Danone saw signs of improvement from its European dairy operations, while its infant formula business was buoyant. Elsewhere, we shone the spotlight on the recent rationing of formula in Western markets amid high demand in China, looked at Marks and Spencer's latest European venture and analysed Magnit's move to Russian retail's top spot.

BRICs and beyond: Russian retailer Magnit looks to retain top spot

17 April 2013

Russian retail colossus Magnit has overtaken X5 Retail Group to become the country's largest by sales. While anticipated, speculation is now likely to turn to whether Magnit can extend its lead, or if X5 has what it takes to up its game and claw back the number one position.

Quote, unquote: just-food's week in words

15 April 2013

UK-based R&R Ice Cream last week snapped up local rival Fredericks Dairies, a deal its CEO told us will help it compete better with Unilever. We spoke to M&A analysts about the potential sale of Burton's Biscuit Co. and to the chairman of Canada's Dare Foods about his expansion plans. In Europe, the sector was rocked by fresh horsemeat revelations, including news an Asda product contained the veterinary drug phenylbutazone.

RUSSIA: X5 sales up on store openings, LFLs muted

12 April 2013

X5 Retail Group has booked an 8.1% increase in first-quarter net sales, driven by store openings - although like-for-like sales were less buoyant.

RUSSIA: Q1 sales up at retailer Magnit

10 April 2013

Russian retailer Magnit has recorded an increase in sales in the first quarter of 2013.

BRICs and beyond: Dixy takes prudent approach to ambitious expansion

18 March 2013

Dixy significantly beefed up its presence in Russia's food retail sector when it acquired local peer Victoria Group two years ago. While the company still has its foot on the throttle, with some ambitious plans to expand over the next three years, Dixy's attention has now turned to a lower-capital intensive organic growth phase. Katy Askew spoke to Dixy's head of investor relations Natalya Belyavskaya to find out more.

Editor's choice: the highlights on just-food this week

28 January 2013

This week saw the debate around the food industry's role in the obesity epidemic come to the fore once again, as the UK Government warned that the industry must do more or face the possibility of legislation. The inauguration of Barack Obama for his second term in office gave us a timely opportunity to look at what has been achieved under his administration - and what could be in store for US food makers. Meanwhile, news that Christine Tacon has been named UK Groceries Code Adjudicator put supply chain relationships firmly in the spotlight. We were able to delve a little deeper into Tacon's take on the subject when we interviewed her shortly after her appointment.

Quote, unquote: just-food's week in words

25 January 2013

just-food managed to secure a number of key interviews with leading industry figures this week, including that of the new Groceries Code Adjudicator, Christine Tacon, who outlined her new role and the challenges she might face. Other interviews included Warburton's free-from director Chris Hook Plum Organics CEO Neil Grimmer who told just-food about the firm's recent acquisition of Plum UK. Elsewhere, Unilever CEO Paul Polman told of his disappointment at the performance of its food division last year and the horsemeat scandal rumbled on.

UPDATE: RUSSIA: Magnit seen overtaking X5 as largest Russian grocer

23 January 2013

The release of X5 Retail Group's sales figures has prompted pundits to suggest that Magnit could overtake X5 as Russia's largest retailer this year.

On the money: Magnit profit rises on margin gains

22 January 2013

Russian retailer Magnit has seen profits benefit from improved purchasing terms and cost controls as it expanded its store footprint over the past 12 months.

RUSSIA: Magnit sees FY profit jump on margin, sales gains

22 January 2013

Russian retailer Magnit booked a 71.62% increase in full-year EBITDA today(22 January), driven by improved margins and higher sales.

RUSSIA: Magnit FY sales jump on store openings

10 January 2013

Russian retailer Magnit has reported full-year sales up by more than a third, after opening nearly 1,600 stores during the period.

Welcome to the home of food information, insight & intelligence

Not a member? Join here