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:

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. 

Author: Mikhail Vesely

Tags: X5 Retail Group Magnit Russian FMCG market Russian business  

Next Previous

You might also find interesting:

CEO of Lamoda Invested in Russian Cosmetics Company Blom
Gazprom and Roskosmos to Expand Cooperation on Satellite Systems
The Function of Ordering Food from an Instagram Account has Become Available in Russia
The Digital Ruble may Come into Circulation in Russia in Three - Seven Years
Acceptance of Applications for Moscow Business Subsidies Resumed

comments powered by Disqus

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

Festivals  Moscow Museums  aircraft  Pavel Nakhimov  Robots  Yury Kuklachev  Siberia  Jazz  recession  travel to Russia  Tweed Run  Pskov Region  Theatre Festival "History of the Russian State. Homeland and Destinies"  Emelyanovo Airport  Domodedovo  Znamenka  Murmansk Region  Russian culture  Russian business  Nature Reserves  Exhibitions in Moscow  St. Petersburg  Russian Cinema  Russian roads  Tolbachek Volcano  Fashion Futurum  Vadim Derbenyov  Ministry of Economic Development  Victory Day Parade  Russian visa  Mexico  Russian regions  Moscow  photodynamic therapy  Krasnodar Trolleybus  Painting  Polyany  Festivals in Moscow  Far Eastern Federal University  Vologda  Chukotka  car market  Olympics 2012  Russian tourism  Spartak  Football  Mercedes-Benz Fashion Week Russia  Miniatures  Hermitage  Leonid Desyatnikov 

Travel Blogs
Top Traveling Sites