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.
23 April 2013
Russian retail giant Magnit has booked an increase in profits in the first quarter of the year.
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.
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.
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.
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.
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.
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.
10 April 2013
Russian retailer Magnit has recorded an increase in sales in the first quarter of 2013.
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.
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.
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.
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.
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.
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.
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.
18 December 2012
just-food's interviews with senior executives in the international food sector provide exclusive insight into how the leading lights in the industry deal with the challenges and embrace the opportunities in front of them. This year, the most-read interviews on just-food included one-on-ones with companies from General Mills and Heinz to Russian retail giant Magnit to the UK government minister responsible for food policy.
9 November 2012
Multinational dairy company Moloko Holdings is to start production and distribution of Russia's first organic milk in the Ulyanovsk province.
25 October 2012
Russian retailer Magnit has booked an increase in profit in the first nine months of the year, boosted by a high pace of new store openings and a focus on low prices.
11 October 2012
Russian retailer Magnit saw its underlying sales accelerate in the third quarter of the year.
17 September 2012
Russian grocery retailer Magnit has upped its full-year sales guidance but said growth is expected to slow in 2013.
3 September 2012
The future direction of Carrefour was in the spotlight this week as the market waited to hear what CEO Georges Plassat had in mind for the retailer. Plassat outlined his plans but there was frustration he did provide more financial details. The retail sector dominated our coverage this week, with news Tesco plans to close stores in China, an interview with Russian retail giant Magnit and speculation Marks and Spencer could be on the radar of private-equity firms.
3 September 2012
This week saw the much-anticipated presentation from Carrefour's new CEO Georges Plassat as he outlined to investors and analysts his plans for the French retailer. Elsewhere, Marks and Spencer's chairman flatly declined to comment on reports it had been approached by a private-equity firm on a possible takeover bid, while just-food spoke with Magnit deputy CEO Oleg Goncharov about the Russian retailer's growth plans.
31 August 2012
Russian retail colossus Magnit can lay claim to having had a rather buoyant year. As one of the country's largest food retailers, it has grown in tandem with the country's middle-class and seen its profits more than double in the first half of 2012. Michelle Russell talks to Oleg Goncharov, Magnit's deputy CEO and investor relations director, about the retailer's confidence in the market, opportunities for growth and the year ahead.
23 August 2012
Russian grocery retailer Magnit has booked an increase in first-half profits on the back of sales growth.
22 August 2012
X5 Retail Group has had a turbulent year. Management changes and a significant strategic shift that has sidelined the importance of M&A to the group's expansion plans have combined with an intensely competitive market to leave Russia's largest retailer losing share to its peers. Katy Askew suggests the next 12 months will be telling for the company.
30 July 2012
Major food multinationals last week reported their first-half results. Unilever saw food volumes fall, PepsiCo insisted it had "momentum" in Europe, Hershey believed US candy had reached a new growth phase and Danone faced criticism from analysts. Elsewhere, the UK milk farmers' protests appeared to pay off, with processors shelving plans for price cuts.
25 July 2012
Russian retailer Dixy is focusing its growth strategy on expanding its convenience store network in the country.
24 July 2012
Russian grocery retailer Magnit has booked a 142% jump in first-half profits, driven partly by higher sales.
17 July 2012
Last week's shock announcement that X5 Retail Group CEO Andrey Gusev resigned caused the Russian retailer's share price to tumble. X5 also booked a mixed set of second-quarter results that showed the retailer was only able to slow - but not reverse - declining like-for-like and customer traffic trends. Analysts in Moscow are split over its performance in the market and the outlook for the country's largest retailer, but there is agreement the departure of Gusev will come as a blow.