Russian retailer O'Key continues to be weighed down by its 'big box' retail estate, however its hard discounter business is showing strong potential, a leading retail analyst has said.
Artur Galimov of Sova Capital was commenting as O'Key reported its first-half results, in which it saw group revenue rise 4.2% year-on-year to RUB 88.67 billion (€1.03 billion).
Its O'Key hypermarket business saw sales rise 0.8% year-on-year, while its Da! hard discounter arm posted a 23.9% increase.
