Belarus' Eurotorg Posts Q2 Sales Growth, Launches New Discount Banner
Eurotorg, Belarus' biggest retailer, has posted a 14.9% increase in net retail sales in the second quarter of its financial year, to BYN 1,153 billion (€503 million).
Like-for-like sales were down 4.7% in the quarter, the retailer said, with negative like-for-like traffic of 6.5% partly compensated by 1.9% growth in average basket size.
The group said that its like-for-like performance was somewhat affected by cannibalisation due to the 'accelerated expansion' of the group. Q2 LFLs were an improvement on those of Q1, which saw a 8.5% decrease, it added.
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