Russia's X5 Reports Sales Growth, Driven By Store Expansion
Russia’s largest retailer, X5 Retail Group, has reported retail sales growth of 20.2% in the first quarter of its financial year, driven by growth in its selling space.
The retailer recorded a 19.7% sales growth contribution from a 26.0% rise in selling space during the period.
The first quarter saw X5 adding a net total of 580 new stores and 253,323 square metres of selling space, down 8% from its 630 store openings for the same period last year.
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