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Retail

Dixy Group Release First Quarter Results

By square1
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Dixy Group Release First Quarter Results

Russian Dixy Group has recorded a 21.9% (21.3% in US$) year-on-year increase in consolidated revenue to RUR 42.3 billion (US$1.4 billion) and an 8.6% year-on-year rise (US$ 8.1%) in consolidated net profit to RUR386.0 million (US$12.7 million) for the first quarter of 2013. The retailer operated two days less in the first quarter of 2013, with stores closed on 1 January 2013 (open on 1 January 2012) and one day less in February 2013 than in February 2012, due to the leap year of 2012.

The Russian retailer opened 45 stores in the first quarter of 2013, increasing selling space by 27% year-on-year. According to Dixy, 'The Company continued to work on the neighborhood chain effectiveness, streamlining the business processes on store level, along with the assortment optimization, pricing strategies implementation, in-store promotions and investments in the brand equity'. 

The company also made significant progress in the development of its private label programme, which was launched in September 2012. In the first quarter of 2013, over 25 new SKUs were introduced, including frozen vegetables and berries. As of 6 June 2013, Dixy's private label range contains 70 SKUs. Dixy began in-store communications about the range in March of 2013.

Dixy, Russia's third largest national retailer by revenue, selling area and number of stores, opened its first store in Moscow in 1999 and in June 2011, the Group acquired the Victoria Group. As of April 2013, Dixy Group had 1568 stores, including 1,458 Dixy neighborhood stores, 79 Victoria stores, 1 CASH store and 30 compact hypermarkets, MegaMart and MiniMart. The company operates in Central, Northwest and Urals federal districts of Russia and in the Kaliningrad region with 537,649 square metres, employing 36,000 people. 

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