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Russia's O’Key Weighed Down By 'Big Box' Estate, Says Analyst

By Steve Wynne-Jones
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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.


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