Новый кризис потребления? Разбираем X5, Магнит и Ленту

Moderator: Anatoly Poluboyarinov - Analyst, Mozgovik Research Speakers: Kirill Zubkov - Lenta Ekaterina Usanova - SberCIB Evgeny Kipnis - Alfa-Bank Russians are changing their habits: buying less, choosing cheaper goods, and increasingly saving money instead of shopping. How is this affecting the largest grocery chains? This presentation examines the real reasons for X5's slowdown in growth, the prospects for Magnit and Lenta, the impact of a high key rate, changing consumer behavior, automation, artificial intelligence, and why the retail sector may remain one of the most interesting for investors. In the video, you will learn: • Why Russians have started saving on groceries. • What is happening with the revenues of X5, Magnit, and Lenta. • When will retailer profitability begin to grow again? • Which companies look the most attractive for investment. • Why the market may undervalue Russia's largest retailers. Speaker presentations, free lectures on investing, and other bonuses here: https://t.me/mozgovikbot 00:00 Introduction 00:25 Why X5 has sharply slowed its growth 01:52 Inflation, high rates, and a new consumption model 03:55 What will happen to demand in 2026 05:24 Russians are starting to save on groceries 07:47 How shoppers are cutting their expenses 09:25 Will retailers' margins fall? 12:37 Automation, AI, and cost reduction 14:33 Why unprofitable stores are closing 15:10 Smart-Lab: presentations and free materials 16:07 How Lenta completely restructured its business 17:05 Plan to reach 8% profitability 18:37 How realistic are the company's ambitions? 19:34 What is retail investing in today? 22:12 Organic growth, new stores, and M&A 11:33 PM Why retail stocks look undervalued 27:27 The main mistake investors make when evaluating X5 and Lenta #smartlab #smartlab #magnet #X5 #lenta