RUSSIA: X5 confirms sale of Ukraine stores
X5 described Ukraine stores as "non-core"
Russia's X5 Retail Group has finalised a deal to sell its stores in Ukraine, marking its exit from the country.
The London-listed retailer said today (25 March) it had offloaded its Perekrestok supermarkets for an undisclosed sum.
X5 did not reveal the buyer of the stores but speculation last week had suggested local operator Varus would acquire the outlets.
At the end of 2013, X5 had 12 Perekrestok stores in Ukraine. X5 said the unit accounted for 0.3% of its sales.
Speaking to just-food, X5 said the sale was unrelated to the political crisis in Ukraine. The retailer insisted the stores were "non-core" and said the deal would allow its management to focus on continuing to improve the performance of its business in Russia.
X5 returned to profit in 2013, with sales up over 6%. Like-for-like sales grew 4%.
Canadean's "X5 Retail Group N.V. : Retailing - Company Profile, SWOT & Financial Report" contains in depth information and data about the company and its operations. The profile contains a company ove...
X5 Retail Group became more active in 2011-2012, and opened four new stores. X5 Retail Group plans to continue its expansion, and open new stores itself, as well as through franchising schemes. One of...
Agricultural Products in Russia industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2009-13, and forecast to 2018). The profile...
Introduction Food Retail in Russia industry profile provides top-line qualitative and quantitative summary information including: market size (value 2009-13, and forecast to 2018). The prof......
Grocery retailers began to develop in Russia much earlier than other retailing channels. Grocery retailers in Russia has historically been a highly fragmented channel in which a high number of small i...
The impact of the economic crisis and reforms in the taxation system were the main factors influencing grocery retailing in Ukraine in recent years. The outlook at the beginning of 2012 was rather opt...
The economy gradually began to recover from the global economic recession in 2011-2012; however, the majority of consumers were not too optimistic about the modest signs of recovery, due to the threat...
This report provides the results for the Confectionery market in Russia from Canadean’s unique, highly detailed study of consumers’ Consumer Packaged Goods (CPG) consumption habits, and forms part of ...
- General Mills US "priority" categories gain share
- Interview part 2: BRF CFO Augusto Ribeiro
- The just-food interview: Doux CEO Arnaud Marion
- 2015 preview: A better deal for M&A sellers
- Focus: Danone CEO Faber puts stamp on business
- General Mills outlines "aggressive" NPD drive
- Kraft to reappraise business, says new CEO Cahill
- General Mills earnings drop one-third
- PepsiCo opens snacks plant in Saudi Arabia
- Bimbo to buy Saputo's bakery arm