X5 Retail Group has lost leadership in the Russian retail race, giving way to its key rival, Magnit.

      X5 Retail Group posted 126 billion roubles in 1Q 2013 revenues while Magnit earned 131.2 billion roubles in the same period.

      It's the first time that the regional chain overtook the captain of the industry in terms of turnover.

      Russia-IC previously reported on the challenges that X5 Retail Group is facing - a management reshuffle, negative 2012 financials among others.