"Coherent" bring into a form. The retailer optimizes a network of the salons

"Coherent" bring into a form. The retailer optimizes a network of the salons
One of the largest Russian cellular retailers "Coherent" for the first time in recent years reduces number of the salons


One of the largest Russian cellular retailers "Coherent" for the first time in recent years reduces number of the salons. According to "Kommersant", it is about 140 shops that makes 4% of their total number. In the company explain it with a rate for sales on the Internet, but participants of the market consider that thus "Coherent" is compelled to increase efficiency of business to service debts.

Since the beginning of year "Coherent" closes salons of sales, "the account goes on tens", told "Kommersant" at once some participants of the market of a cellular retail. In the first quarter the network "Coherent" decreased by 4%, to 3,2 thousand salons, confirmed in the company. The representative "Coherent" Maria Zaikina does not exclude that all following the results of a year the number of shops can decrease within 5% in comparison with 2013.

It turns out, it is about closing of 140 salons, besides that in recent years the network "Coherent" only grew. For example, in the last two years "Coherent" grew on 519 salons. At the end of last year all network grew to a historical maximum – 3,34 thousand salons. At the same time the number of the shops serving Internet sales grew three times, to 33 salons. Now "Coherent" started increasing efficiency of the operating salons, Maria Zaikina speaks. Thus besides four percent reduction of a network the retailer in the first quarter opened 50 zones under a brand of Windows and eight – Apple. The average check in these zones increases to 20%, she adds. Besides, "Coherent" decided to refuse sales of laptops in salons, now they will be on sale in online store. For the last six years of online sale in commodity turnover "Coherent" grew from 1% to 17%. "We do not need to develop physical presence in the new cities or points as we interact with the current infrastructure from 80% of active buyers in the country", – the general director "Coherent" Michael Tach speaks. In 2013 the revenue grew by 17%, to 108 billion rubles, EBITDA remained "at the level of 2012 (4,6 billion rubles – to "Kommersant")", reported in "Coherent".

In "Euroset" note that in recent years did not change number of salons and the current level – about 5 thousand – consider optimum. At MTS number of salons also stablely (about 4 thousand taking into account franchasing); the operator does not plan to reduce or increase a network soon. And here the network "Vympelcom" last year trebled (to 1,2 thousand points). Besides, "Vympelcom" has the right in three years to buy 150 more salons belonging now to group of companies "The digital center "Ion".

The representative of one of competitors "Coherent" says that reduction of a network for 5% – "is a big indicator", however he considers that the network "Coherent" can decrease at all by 10%. "At "Coherent" a big debt, the company does not suffice current assets for maintenance of such network", – it lists the reason. By data "Coherent", its pure debt for the end of 2013 made about 9 billion rubles. However the cumulative debt of structures of the main shareholder "Coherent" Maxim Nogotkov to all creditors can exceed 40 billion rubles Michael Tach does not agree with opinion that reduction of number of salons is connected with the retailer's debt. "Reduction of a network for 5% does not solve anything from the point of view of cash flow", – he assures. In the press service "Coherent" added that the ratio of a debt of the retailer to EBITDA was at the level of 2 whereas for the industry value to 3 "is considered an indicator of stability of business".

Reduction of a network "Coherent" can be also connected with the general falling of a consumer demand after toughening of requirements of delivery of the consumer credits, the operator's top manager of "the big three" considers. "That now occurs in the market, does not lighten mood of buyers and does not improve consumer ability. However the first quarter showed that sales of smartphones and tablets, the main segments which form revenue "Coherent", continue to grow", – Michael Tach argues. In the current year "Coherent" it intends to increase revenue and to keep profitability at the level of 2013, he adds.

The largest cellular retailers of the Russian Federation
The company Number of own salons for the end of 2012 Number of own salons for the end of 2013 Changes (%) Net proceeds from sale of mobile devices and so forth technicians in 2012 (billion rubles without the VAT) Net proceeds from sale of mobile devices and so forth technicians in 2013 (billion rubles without the VAT) Changes (%)
Euroset, Group 5200 5050 -2,9 95,00 114,0 20
Svyaznoy, Group 3322 3341 0,5 92,20 108,0 17,1
MTS, JOINT STOCK COMPANY 2889 2800 -3,1 28,70 26,3 -8,4
"MegaFon", joint stock company 1785 1898 6,3 13,32 18,1 35,8
"Vympelcom" 420 1240 195,2 4,5 8,7 93,3
"Tele 2 Russia" 450 562 24,8 3,6 4,7 30,5


Source: "Infoline-Analitika", data of the companies



Anna Balashova, Vladislav Novy
Businessman
 No. 85 of 21.05.14