Did you know ...? Russian food retailer X5 has noted that declining profit in its fourth quarter was partly owed to an aggressive expansion of its network of discount stores, as Russian consumers feel the pinch, reports Reuters. Shoppers have faced surging prices and falling incomes in the year since the Kremlin ordered tens of thousands of troops into Ukraine, hitting spending power and boosting demand for cut-price goods. The active expansion of X5’s Chizhik hard-discounter format is in response to customers increasingly seeking the best-value offer for their money, CEO Igor Shekhterman said, pointing to sharply higher revenue for the format.
Did you know ...? Nestlé Cereals has announced the launch of Kit Kat Cereal, a new breakfast option that brings the taste of the popular chocolate bar straight to consumers’ cereal bowls. Created in partnership with the chocolate development team, the cereal maintains the essence of the much-loved original chocolate bar. According to the confectionery giant, the crispy cereal resembles Kit Kat squares, providing the taste of chocolate and wafer. The newest addition to the Nestlé Cereals’ portfolio is made with a milk chocolate-flavoured coating, and it is a source of five vitamins, calcium and iron.
Did you know ...? Maxima Latvija has opened its 100th store featuring the ‘My Shop’ concept, as part of the retailer’s transformation project, aimed at improving convenience for customers and employees, reports ESMmagazine.com. Located in Riga, the renovated store features a layout of goods adapted for the convenience of visitors, and improvements to help employees perform their daily tasks. The retailer has invested close to €70, 000 in renovating the store.
Read More: Did You Know ...? 14 March 2023
© 2023 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. For more A-brand news, click here. Click subscribe to sign up for the Checkout print edition.
