Russian retail group O’Key has opened two new discounter stores under its DA! brand, in Tver and Ramenskoye.
The two new outlets, which opened in the last week of November, are the fourth and fifth new stores to be launched by the retail group over the past two months.
The expansion of DA! is one of the main priorities of the O'Key Group, and it plans to open around 170 DA! outlets by the end of 2020.
In the first nine months of 2018, the net retail revenue generated by DA! grew by 33.2% year-on-year to RUB 9,605 million (€127.1 million).
Like-for-like net retail revenue generated by DA! increased by 13.3% year-on-year, driven by steady growth in LFL traffic and LFL average ticket.
Chief executive officer of O'Key Group, Armin Burger, said that the new store launches are in line with the company’s growth strategy.
“In the third quarter, we continued to enhance our assortment matrix by introducing 50 new private label SKUs,” Burger added. "As of the end of the last quarter, the share of private label products in the total SKUs stood at 42%.”
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.