Get the app today! Download iPhone App Download Android App

Russia's O'Key Group Puts Focus On 'Profitable' Discount Channel: Analysis

Published on Apr 4 2018 11:59 AM in Retail tagged: Trending Posts / Russia / X5 Retail Group / O'KEY / Paywall

Russia's O'Key Group Puts Focus On 'Profitable' Discount Channel: Analysis

Having offloaded its supermarket business to X5 Retail Group, Russia's O'Key Group is now focused on growing its presence in the discount channel, according to its annual report.

Announcing an increase in total group revenue of 1.1% last year, to RUB 177.4 billion (€2.5 billion), O'Key chief executive Miodrag Borojevic said that the competitive retail environment in Russia has led to it focusing primarily on its 'compact hypermarket' and discount channels.

While 2017 was a year that saw economic recovery in the Russian market, "aggressive selling space growth ahead of food retail sales continued to put pressure on the performance of more mature stores", he said.

please subscribe or sign in to continue reading

image description

Try European Supermarket Magazine PREMIUM – 30 Day FREE Trial.

A trial subscription gives unrestricted access to all premium site content, app content, weekly email content and European Supermarket Magazine digital edition for a full 30 days. Try it now!

Share on Facebook Share on Twitter Share on Google+ Share on LinkedIn Share on Tumblr Share via Email