The CEO of Lenta warned about the ruin of retail due to government price regulation
Attempts by the state to regulate food prices can lead to losses and, as a result, to the ruin of the largest Russian retailers, , said in an interview with RBC. Vladimir Sorokin, general director of Lenta The profit of retailers is small and so - 1.6–3.6% of revenue, Sorokin noted: “If we are forced to sell at a price lower than that at which we should trade from the point of view of the economy, then we incur losses.