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LENTA opens sixteenth supermarket in Moscow

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LENTA, one of the largest retail chains in Russia, announces the opening of the sixteenth supermarket in the Moscow region. New supermarket opened in Moscow at the address: 2A Guryanova Street.
Total area of the store is 1857 sq.m, 50% of which occupied by retail space. Supermarket is open 7 days a week from 8am to 11pm. The stock of goods available at the shop exceeds 6500 items. Along with the wide production range of federal brands, products from local manufacturers are offered to the customers.
For visitors’ convenience, there is a parking area for 70 cars, and the trading ground is equipped with 10 cashier desks.

With the opening of this new hypermarket, the network LENTA includes 87 hypermarkets in 50 cities of Russia and 16 supermarkets in the Moscow region.

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Russia’s X5 Retail Group posts 71 pct rise in Q2 net income

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Russian supermarket operator X5 Retail Group NV said on Thursday its second-quarter net profit rose 71 percent, year-on-year, to around 4 billion roubles ($111 million).

Earnings before interest, taxation, depreciation and amortisation (EBITDA) increased 24 percent to 11.4 billion roubles with an EBITDA margin at 7.3 percent compared with 6.9 percent a year ago, the company said in a statement.

(1 US dollar = 36.0290 Russian rouble)

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Metro could restart Russia IPO preparations in September

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German retailer Metro could restart preparations in September for the stock market listing of a quarter of its Russian cash-and-carry wholesale operation that it postponed due to the Ukraine crisis, sources close to the matter said.

Company and financial sources said relaunching the initial public offering – which had been expected to fetch at least 1 billion euros – would depend on developments in Ukraine and the level of the Russian rouble.

Metro, which wants to use the proceeds to invest in the fast-growing Russian business and other emerging markets and pay down debt, decided in March to delay the stock market listing due to market turmoil over Ukraine.

Metro declined to comment but Chief Executive Olaf Koch has said in the past the planned IPO had been well received by investors and should still proceed if the turmoil on Russian markets abated.

Metro is Russia’s fourth-biggest retailer behind X5, Magnit and French chain Auchan. Its Russian unit made a quarter of Metro’s group operating profit in 2013 with sales of about $5 billion, some 9 percent of Metro’s total.

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Perekrestok To Drastically Change Appearance

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The network of chain stores Perekrestok is getting a new look, as reported by Vedomosti, quoting Janusz Lella, the general director of the company.

Lella said, according to the publication, that the need to change the way the company appeals to consumers came about because of its low financial performance.

In the future, Perekrestok is looking at changing the use of its staff, changing its logo and revising its pricing policy.

“The supermarkets are changing their logo and color scheme, reorganizing their assortment, it will be newly organized as well as the retail space in the stores, in addition to a revised personnel policy,” he said.

During the first quarter of this year, the network reached a revenue of 28.7 billion rubles ( about $833 million ), and the group of companies reached 144 billion rubles ( about $4,18 billion ). Perekrestok’s growth performance was at 4.4 percent.

“We deliver suppliers more. The growth of the purchase amount is due to buying more goods, therefore sometimes even lowering prices gives rise to an average bill,” he said.

From January to March of this year, the average customer check at Perekrestok amounted to 433.8 rubles ( about $13 ).

www.fruitnews.info