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Retail

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

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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