Food industry company news

Subscribe via RSSWhat is RSS?

Latest Articles

RUSSIA: Magnit Q1 sales up

11 Apr 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 Apr 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 Jan 2011

Russian grocery retailer Magnit today (11 January) booked an increase in full-year sales.

RUSSIA: Magnit profits grow

22 Oct 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 Oct 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 Oct 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 Aug 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 Jul 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 Jun 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 Jun 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 Apr 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 Mar 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 Jan 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 Dec 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 Oct 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 Oct 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 Oct 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 Oct 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 Oct 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 Sep 2009

Russian retailer Magnit announced today (3 September) that its board has approved the issue of 11.2m new shares through an open subscription.

COMMENT: Russia's food retailers playing for high stakes

14 Jul 2009

Russia's food retail landscape is in a state of a flux - and the country's leading grocers are jostling for position. In recent days, there have been a raft of buoyant sales figures despite the impact the downturn has had on consumer spending. However, weak financial markets have hurt a number of smaller players and promises to herald a period of consolidation in Russia - involving both domestic and foreign heavyweights. Dean Best reports.

RUSSIA: Magnit posts increase in net sales

14 Jul 2009

Magnit, the Russian supermarket chain, posted a 33.4% increase in first-half net retail sales today (14 July).

RUSSIA: Magnit “eyes London listing” – report

7 Jul 2009

Magnit, the Russian supermarket chain, is planning a secondary share offering in London and Moscow this autumn, reports in the Russian press claim.

RUSSIA: Magnit Q1 profit up 36%

14 Apr 2009

Russian grocery retailer Magnit today (14 April) posted a 36% increase in first-quarter sales.

RUSSIA: Magnit doubles profit

1 Apr 2009

Magnit today (1 April) posted a 93% jump in annual profits for 2008 and the Russian grocery retailer predicted its profits would improve in the coming year despite the downturn.

Russia's grocers can withstand economic slump

9 Mar 2009

Russia's economy, buoyed in recent years by the country's vast natural resources, kicked off 2009 with something of a whimper. Nevertheless, there is the feeling that Russia's food retail sector could provide a beacon of hope in a tough wider global food market in 2009.

RUSSIA: Magnit revenue up 42%

12 Jan 2009

Russian retailer Magnit saw its full-year revenue jump 41.9% in 2008, the company said in a trading statement today (12 January).

RUSSIA: Kopeika secures bank loan - report

10 Dec 2008

Russian discount retailer Kopeika has secured a RUB4bn (US$142.9m) loan from state-controlled bank Sberbank, according to reports.



Forgot your password?