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

22 Jan 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 Jan 2013

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

The ten most-read interviews on just-food in 2012

18 Dec 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.

RUSSIA: Moloko to begin Russia's first organic milk production

9 Nov 2012

Multinational dairy company Moloko Holdings is to start production and distribution of Russia's first organic milk in the Ulyanovsk province.

RUSSIA: Magnit profits climb on store openings, LFL sales

25 Oct 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.

RUSSIA: Q3 LFL sales accelerate at retailer Magnit

11 Oct 2012

Russian retailer Magnit saw its underlying sales accelerate in the third quarter of the year.

RUSSIA: Magnit ups FY guidance, 2013 growth to slow

17 Sep 2012

Russian grocery retailer Magnit has upped its full-year sales guidance but said growth is expected to slow in 2013.

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

3 Sep 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.

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

3 Sep 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.

The just-food interview - Magnit deputy CEO Oleg Goncharov

31 Aug 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.

RUSSIA: Magnit records H1 profit increase

23 Aug 2012

Russian grocery retailer Magnit has booked an increase in first-half profits on the back of sales growth.

BRICs and beyond: Russia's X5 struggles to deliver on strategic objectives

22 Aug 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.

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

30 Jul 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.

UPDATE: RUSSIA: Retailer Dixy focuses growth on c-stores

25 Jul 2012

Russian retailer Dixy is focusing its growth strategy on expanding its convenience store network in the country.

RUSSIA: Magnit H1 profits double

24 Jul 2012

Russian grocery retailer Magnit has booked a 142% jump in first-half profits, driven partly by higher sales.

What the analysts say: The surprise exit of X5 CEO Gusev

17 Jul 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.

On the move: X5 CEO Gusev's departure offers cause for concern

16 Jul 2012

News that Andrei Gusev will stand down as X5 Retail Group chief executive caused shares in the Russian retailer to sink to a 52-week low on Saturday (14 July). The market responded negatively to fears that an unstable management team will be unable to drive growth as X5 struggles to improve organic sales trends. The sudden nature of the announcement and lack of clarity over the reasons for Gusev's departure augmented these concerns. Katy Askew reports.

RUSSIA: Magnit sees sales rise

10 Jul 2012

Store openings have driven first-half revenue growth at Russian retailer Magnit.

RUSSIA: Magnit opens distribution centre

28 May 2012

Russian retailer Magnit has opened a new distribution centre to serve the Volga region.

RUSSIA: Magnit launches Magnit Family retail banner

15 May 2012

Russian retailer Magnit has launched a store format under the banner Magnit Family.

RUSSIA: Magnit Q1 profits soar on expansion

24 Apr 2012

Russian retailer Magnit saw its profit more than double in the first quarter, boosted by rapid expansion and stores openings.

RUSSIA: Hypermarkets boost Magnit Q1 sales

10 Apr 2012

Russian retailer Magnit has reported a 4% increase in like-for-like sales for the first three months of 2012 thanks to robust growth from its hypermarket network.

RUSSIA: Magnit "confident" on FY profits growth

31 Jan 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 Jan 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 Oct 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 Aug 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 Aug 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 Aug 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 Jul 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.

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