Add to favorite
 
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

X5 Retail Group Losing Edge to Magnit
18.01.2013 08:20
X5 Retail Group Losing Edge to Magnit
Photo Credit: http://maria-speaks-russian.blogspot.ru

X5 Retail Group is losing its edge on the Russian FMCG market as its full-year earnings were lower than the target figures.


      
According to preliminary 2012 data, its earnings will total 490 billlion roubles while Magnit, its main competitor, posted a 34 percent growth and a total of 448.5 billion roubles in revenue.

      
Analysts have linked the decline in earnings with a wave of staff reshuffles that have plagued the company over past several years.

      
As a result of both factors, the flagship retailer’s shares plunged from record $48 to $17.7. 

      
Magnit is set to take over as early as in first quarter of 2013, says Natalya Zagvozdina, equity research analyst at Renaissance Capital. 

Sources: http://www.x5.ru http://www.forbes.ru 

Author: Mikhail Vesely

Tags: X5 Retail Group Magnit Russian FMCG market Russian business  

Next Previous


You might also find interesting:

Morocco Increases Exports To Russia
07.07.2017
The Bank Of Russia May Start Interventions
31.01.2017
A Mobile Application For Mortgages Is Launched
30.05.2017
Sberbank Got an AAA Credit Rating by ACRA
25.03.2017
Russian Grains Meet the Indonesian Standards
29.08.2016



comments powered by Disqus




Comment on our site


RSS   twitter   facebook   submit

Bookmark and Share

Russian Parliament in Action

search on the map
TAGS:
Russian opera singers  Exhibitions in Moscow  Painting  Russia-UK  Brass Music  Perm  Cars  Chechen republic  Russian Literature  Russian universities  Paleontology  World Cup  Khokhloma Painting  Russian history  odd news  Thermal Springs  Parliament in Action  Olympic champions  the Bolshoi Theatre  Russian church  Human Right Activists  Skolkovo  Soviet Writers  Sarai-Batu  Irkutsk Region  Mills  Vologda  Ecotourism Forum  Murmansk  ROSCOSMOS  Archeology  Russian business  Art  Albina Matveyeva  Mercedes-Benz Fashion Week Russia  Russian tourism  fashion designer  Rosatom  All-Russian Museum of Arts and Crafts and Folk Art  Moscow  invest  stowaways  investment  corruption in Russia  Russian roads  Russian Cinema  Gaming  waste management  Krylatskoe   Hermitage Capital 


Travel Blogs
Top Traveling Sites