Moscow, July 7 - Russian stores have run out of imported spirits due to late deliveries of new excise stamps, denting grocery chains' sales and leaving the nation with a narrow Soviet-era choice of local vodka and beer.
The government has ordered that starting July 1 all imported alcohol must bear the new stamps. But delays in distribution have left Russians unable to buy their favourite French cognac and Californian wines.
"This really makes our life hard. Shelves are empty, and as customers won't spend money on alcohol, revenues are down," said Roman Uvarov, marketing director at discount retailer Dixi.
"Suppliers give us contradictory information, and we don't know when (foreign) alcohol will stage a comeback."
London-listed Pyaterochka has warned that the hold-up will hurt its sales and it doesn't expect a full return of imported spirits to its stores another 60-90 days.
Seventh Continent said it might lose 3-7 percent of revenue in the third quarter, adding it hoped to make up for some losses in the full year.
According to brokerage Deutsche UFG, alcohol accounts for 15 percent of Perekryostok and Seventh Continent's revenue, 11 percent at Pyaterochka and 10 percent at Magnit. Imports make up 50 percent of sales in terms of value.
Whitehall, one of Russia's leading alcohol importers, had to close its Kauffman chain of stores from July 1. A Kauffman store manager said he would reopen on Friday but only had tax stickers to sell pricey Veuve Clicquot champagne and Hennessy cognac.
Deutsche UFG estimated losses at Russia's largest grocery chains at over $100 million -- enough to lop 1.3-1.9 percent off annual sales.
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"Clearly, consumers will be forced to substitute imported wine and spirits by domestic premium vodka and beer, although we nevertheless believe that the shops will see some loss in sales," said Deutsche UFG.
Russia endured vast shortages of its national tipple, vodka, as recently as February after an earlier tax sticker mixup.
Since then, wines from Georgia and Moldova have been banned in Russia on quality grounds, prompting the two ex-Soviet states to call the ban a punishment for their pro-Western policies.
Natalya Milchakova, head of research at Otrkytiye brokerage house, said that discount stores such as Pyaterochka, Magnit and Dixi and Kopeika -- with the latter two planning to float on the stock market -- would suffer less than up-market chains.
Low-price stores, she said, focused on sales of beer, most of which is brewed in Russia, and cheap local wines.
"This may force grocery chains to diversify their assortment of produce and cut spirits while increasing the share of soft drinks and food," Milchakova said.
Aton brokerage said, however, that major food retailers could still see growth of 40 percent or more in their total sales which would allow them to shrug off losses from unsold spirits.