Sergei Goncharov left the company "Magnet"

Sergey Goncharov, who was responsible for them and cosmetics stores, left the company.
Sergei Goncharov, who was responsible for the development of pharmacies and Magnit Cosmetics, left Magnit. This was told by his acquaintance and confirmed by Goncharov and a representative of Magnit. "He left because he had ceased to see the future for himself in the company. I have more ambitious plans and tasks that I set myself, "Goncharov said, adding that he is currently negotiating with several companies.

In 2013-2016 years. Goncharov was the director of the format "Magnet Cosmetics". At the beginning of his work in this network of shops of cosmetics and household chemicals was about 700 points, it was unprofitable, recalls Goncharov. For four years, sales have grown 13 times, EBITDA - 22 times, the network has become "very profitable". As of the end of September, 2017, Magnit had 3522 Magnit Cosmetics, their revenue for the nine months was 57 billion rubles. (total of "Magnit" - 851 billion).

For nine months of last year, cosmetics stores were the only format where comparable sales did not fall. The main business of "Magnit" - stores near the house, their comparable revenue for this time decreased by 0.59%. In October, "Magnit" reported a sharp reduction in net profit in the III quarter (-53.3%) and the continued slowdown in sales growth. Capitalization of Magnit on the London Stock Exchange fell to the 2012 minimums.

When asked whether the decision to leave Magnit with changes in personal priorities or a difficult situation in the main business of Magnit was related, Goncharov replied that the combination of both factors influenced.

From January 2017 to January 2018, Goncharov was responsible for the development of a new format for Magnit, a pharmacy. The first opened in the middle of the year, by the end of December, 51 pharmacies had operated at Magnit. Now, according to Goncharov, "a small pause is taken to assess the effectiveness of open pharmacies - this is likely to take the I quarter of 2018".

When Goncharova was transferred to the development of pharmacies, the market feared that, in fact, the slide could demotivate the top manager, says an employee of the investment bank. But then it was not perceived so negatively, he recalls: it was believed that Goncharov "will disperse the new direction and after the merger of formats can lead them."

The plan does not change. In time, pharmacies will be integrated into Magnit Cosmetics, says the financial director of Magnit, Khachatur Pambukhchan: "In foreign markets, shops in the droger format (where prescription drugs, cosmetics and other products are sold simultaneously), we are looking this way." While managing the pharmacies will be the director of the format "Magnet Cosmetics" Maxim Onishchenko.

Now, due to operational problems, Magnit is paying less attention to related areas, such as pharmacies, says Mikhail Burmistrov, general director of Infoline Analytics. Goncharov actively developed Magnit Cosmetics, when in the main business - food trade - there were no problems, he reminds: "Now the situation is different, there are no grounds for at least stores near the house or hypermarkets to be on the path of sustainable recovery."
Goncharov was behind the restoration of the business of cosmetics stores, his departure for the market is an additional argument for pessimism, analyst Mikhail Serghey Krasnoperov, analyst of Sberbank CIB. Contribution to the proceeds of "Magnet Cosmetics" is relatively small, he notes, but this is the most profitable segment.

The results of IV quarter "Magnet" will open on January 26. The growth in revenue may not hold out until management's expectations, analysts of Credit Suisse fear: their forecast is 11% for the quarter, and management expectations should be no less than 12%. "We are waiting for a slight acceleration in revenue and a slight increase in margins compared to the third quarter, but it is likely not to be associated with fundamental business improvements, but rather with seasonal factors," adds Krasnoperov.

Obviously, the main shareholder is not satisfied with the results of the business, this translates into nervousness at the management level, Burmistrov says: "In such a situation, top managers in start-ups (and pharmacies are, in fact, a start-up) work uncomfortably." On the other hand, he continues, Magnit always has the opportunity to return Goncharov after some time, as it was with some other key leaders.