O'Key Group's Underlying Net Retail Revenue Grows 0.7% In Q1 2019

By Dayeeta Das
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O'Key Group's Underlying Net Retail Revenue Grows 0.7% In Q1 2019

Russian retailer O’Key Group has posted 0.7% year-on-year growth in underlying group net retail revenue in the first quarter of its financial year, to RUB 39,421 million (€545.25 million).

The result excludes the effect of the sale of its supermarket business to X5 Retail Group.

Like-for-like net retail revenue saw a year-on-year decline of 1.3% during the quarter.

The performance was driven by a 3.4% year-on-year decrease in like-for-like traffic and a 2.2% year-on-year increase in the like-for-like average ticket.

Divisional Results

Net retail revenue generated by its discounter chain, DA!, grew by 36.0% year on year, to RUB 3,985 million (€55.1 million) during the quarter, the group reported.


This was driven by 25.9% year-on-year growth in traffic and an 8.6% year-on-year increase in the average ticket size.

Like-for-like net retail revenue generated by the discounter increased by 21.4% in the first quarter of 2019, when compared with the same period in 2018.

Hypermarket chain O’Key posted a 2.2% year-on-year decrease in underlying net retail revenue during the period, to RUB 35,437 million (€493.42 million), due to weaker-than-expected sales in January.

Like-for-like net retail revenue across O’Key hypermarkets dropped by 3.7% year on year.



The retail group is anticipating top-line growth in O’Key hypermarkets to be around zero for the full year.

Discount banner DA! is expected to deliver double-digit like-for-like growth in 2019, with 30 new outlets scheduled to open by the end of the year.

© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.

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