Russia's leading grocery chain by sales, Magnit, is growing rapidly in one of the world's largest emerging markets.
The retail chain was founded 1994 by Russian billionaire Sergey Galitsky, who has been compared to Wal-Mart (Fortune 500) founder Sam Walton. ,
Magnit operates more than 5,700 convenience stores and hypermarkets in over 1,500 locations in Russia. Profits surged 140% in the first half of 2012 to $339.9 million on sales of $6.7 billion.
The company has plans to spend up to $1.4 billion this year to open another 850 outlets.
If investors had followed the advice made by top hedge fund managers at last year's Value Investing Congress, they would have would have seen big returns. This year's conference will be held Oct. 1-2.
|4 federal agencies to shut Friday|
|Wall Street braces for China and Fed fallout|
|Jobless claims fall, pointing to better May|
|Japan plunge spooks global markets|
|Shazam overhauls iPad app as music market heats up|