Russian Food-Store Tsar Rings Up Billions as Wal-Mart Wavers

One by one, from the southeastern corner of the continent, Sergey Galitskiy is beating the biggest supermarket chains in Europe.

In February, the Russian retailer he founded near the Black Sea, OAO Magnit, surged past Metro AG of Germany in market value, then overtook Royal Ahold NV of Holland and Carrefour SA of France two months later to become the region’s No. 2 after England’s Tesco Plc.