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Retail

Russia’s X5 Posts 17.6% Revenue Growth In Third Quarter

Russia’s X5 Retail Group has reported revenue growth of 17.6% year-on-year in the third quarter of its financial year.

Growth was driven by a 0.5% increase in like-for-like sales, and strong selling space expansion.

Tough External Environment

The retailer’s gross profit margin rose to 24.6% in the third quarter 2018, despite a tough external environment, the retailer said.

This performance has been attributed to a number of factors, including higher sales at its Perekrestok banner, and measures taken by the management to control shrinkage levels.

EBITDA amounted to RUB 27,689 million (€4 million) for the quarter, while the EBITDA margin grew by 36 basis points to 7.4% year-on-year.

© 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.

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