Russia's X5 Retail Group Sees LFL Sales Up 5.6% In First Nine Months
Russian retailer X5 Retail Group has posted a 5.6% increase in like-for-like retail sales in the first nine months of its financial year, driven by a 11.8% increase in basket size.
Traffic was down 5.5% in the nine month period, however, largely due to safety concerns linked to the COVID-19 crisis, as well as the slow recovery of the HoReCa segment.
The group, which operates the Pyaterochka, Perekrestok and Karusel retail chains, saw reported revenue up 14.6% in the nine month period, to RUB 1.45 trillion (€16 billion), while gross profit was up 15.1%.
In terms of the performance of its main banners, Pyaterochka posted a 6.9% increase in like-for-like sales in the nine month period, with a 11.5% increase in basket size offset by a 4.2% decrease in traffic.
Perekrestok, meanwhile, posted a 1.7% increase in like-for-like sales, with basket size up 18.7% and traffic down 14.3%. Karusel saw a 6.9% decrease in like-for-like sales, largely due to the ongoing transformation process of its stores, X5 said.
As of 30 September, X5 Retail Group increased its selling space by 9.6% compared to the same point last year, with Pyaterochka increasing its space by 10.8%, Perekrestok increasing its selling space by 21.8%, and Karusel seeing its selling space decrease by 38.5%.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.