Russia's largest electronics retailer may close up to 30% of its stores
The "M-Video" retail chain—Russia's largest retailer of electronics and home appliances—is preparing for a significant reduction in the number of its stores amid falling sales, losses, and intensifying competition from online marketplaces.
This is reported by Russian media.
In 2026, the company may close between 20% and 30% of its stores. According to market estimates, the chain currently has about 880 locations, so this could mean the closure of up to 264 stores. Earlier, in early 2025, the retailer had 1,245 retail locations, so the reduction could be nearly twofold.
The main reasons cited are a drop in consumer demand, high borrowing costs, and shoppers shifting to online retail, where prices are often lower.
In addition, there has recently been a decline in sales of smartphones, laptops, and televisions, and the company has faced a significant deterioration in its financial performance, including a drop in revenue and a large net loss.
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