“Magnet” has warned of turbulence in prices in the shops after the New year

Photo: Yevgeny Astashenkov/inter/TASS

In early 2017, the shelves will start the turbulence in prices, warned Finance Director of “Magnet” Khachatur Pombukhchan. According to him, this can result in amendments to the law on trade

Adoption of amendments to the law on trade can lead to the fact that in early 2017, retailers will be faced with the turbulence of the prices in the shops, said Monday Khachatur Pombukhchan, CFO of the largest Russian retailer “Magnit”, the correspondent of RBC.

“We assume that during the first months of next year due to the fact that all the retailers would come up with different speed go to the requirements of the law might be a little turbulence with the prices on the shelf,” said Pombuhchan.

However, he noted that gross margin will not change and everything will remain the same.

Working capital in connection with changes in the timing of payments will change, according to Pombuhchan, but, in his opinion, they should not affect profit. “We will reduce the payment delay, but this should be reflected in the purchase price,” — said the Treasurer “Magnet”.

“Negotiations started, she is now in full swing, and we will finish it only at the end of this year, all new contracts are concluded in accordance with the new law. We hope that our procurement conditions in connection with the law on trade will not change,” he said.

In June, after the amendments to the law on trade have been agreed by the state Duma, retailers warned of possible food shortages. In particular, it was said to RBC the President of the Association of retail companies Ilya Lomakin-Rumyantsev, this may be due to the fact that the stores will not have time to prepare for innovation. They retailers said they would be willing to go to the new rules by July 2017.

Amendments to the law on trade, one of the co-authors of which were made by the Deputy of the state Duma Irina Yarovaya, was almost unanimously passed by the lower house of Parliament in late June. They suggest, in particular, limiting additional payments to networks of providers, reducing the delay in payment of the delivered goods, the increase in penalties for violation of the Russian legislation. As noted by the authors of the bill, similar measures are aimed at improving the position of producers.

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