Magnit, one of Russia’s major food merchants, announced on Friday that it has introduced a line of ready-to-eat items at select stores and that it plans to expand the idea by building “kitchen factories.”
Magnit, which reported a 6% decline in quarterly net profit on Thursday, is attempting to strike a balance with leading brand X5 and completed its $1.2 billion buyout of rival Dixy earlier this month, Reuters reports.
The company said it will decide on growth plans after the trial was completed. The ready-to-eat concept has begun in two Russian cities, with about 40 products available in over 50 supermarkets and …
