OREANDA-NEWS. January 26, 2010. Russian consumer electronics retailer M.Video expects zero sales growth in 2010 and is eager to open 20 new stores. Russia’s No. 1 consumer electronics retail chain M.Video expects zero sales growth in its like-for-like stores in 2010 and flat market performance on the whole, the company’s chief executive Alexander Tynkovan told analysts during a conference call.

In 2009 the Russian consumer electronics market shrank, based on M.Video estimates, by at least 20% in ruble terms. During the year, M.Video’s like-for-like sales decreased nearly 12%, but following the opening of new hypermarkets the retailer managed to report a 3.6% increase in sales to RUB 83.3 bn. In 2010 the company expects a slow recovery in demand. This year M.Video plans to launch at least 20 new hypermarkets and boost its market share.