Russian electronics retailer M.Video reports 13% rise in first-half volumes


FILE PHOTO: A woman walks in front of a store of Russia's biggest electrical and white goods retailer M.video in Moscow, Russia April 15, 2016. REUTERS/Maxim Zmeyev/File Photo

MOSCOW (Reuters) - Russian consumer electronics retailer M.Video-Eldorado said on Monday that its gross merchandise value (GMV), a measure of transaction volumes, rose 13% in the first half of 2024 from a year earlier to 247 billion roubles ($2.7 billion).

First-half revenue also increased by 13% to 202 billion roubles compared with the year-ago period and gross profit increased by 6% to 41.6 billion roubles, the company said.

Core earnings dropped slightly to 6.5 billion roubles, the company said, in what CEO Sergei Li described as a challenging macroeconomic environment with demand in the consumer electronics market cooling.

($1 = 91.4000 roubles)

(Reporting by Reuters; Writing by Alexander Marrow; Editing by Susan Fenton)

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Tech News

Jeff Bezos says most people should take more risks. Here’s the science that proves he’s right
Musk, president? Trump says 'not happening'
Bluesky finds with growth comes growing pains – and bots
How tech created a ‘recipe for loneliness’
How data shared in the cloud is aiding snow removal
Trump appoints Bo Hines to presidential council on digital assets
Do you have a friend in AI?
Japan's antitrust watchdog to find Google violated law in search case, Nikkei reports
Is tech industry already on cusp of artificial intelligence slowdown?
What does watching all those videos do to kids' brains?

Others Also Read