7 December 2009
Leading Russian retailers and foreign players operating in the local market are planning to increase its revenues by at least 30% prior to Christmas and New Year celebrations.According to local analysts, in the fourth quarter of the current year most of the retail chains will be able to increase their earnings to a maximum of 30%, compared to the same period of last year. In the case of X5 Retail Group (the Russia’ largest retailer) the company may increase its sales by 26-27%, to $2.57 billion dollars, while "Magnit" by 30%, to $1.29 billion dollars, and "Dixy" - by14-15%, up to $529 millions.
Lev Khasis, CEO of X5 believes that his company will be able to increase significantly its sales this month. According to his predictions the company's revenue in December may rise in the range of 20%-100% compared to the previous month.
"The current situation in the market is still not clear, but we also have some hopes for the last quarter of the year”, said "Magnit" Director of Investor Relations Oleg Goncharov.
Practically the same opinion has one of the top managers of another Russian retail chain Kopeyka who believes that in December the company’s sales may increase up to 20-25%.
"Last year, the demand has increased by 30%, but this year we have lower expectations. We make effort in order to maintain our profits. Much will depend on the competitors’ policy ", said an undisclosed source in Kopeyka.
foodbizdaily.com