Russia's X5 Retail Group Sees Net Sales Rise 27.7% In Q2
Russia's X5 Retail Group has posted a 27.7% increase in net sales in the second quarter of its financial year, comprised of a 6.6% increase in like-for-like sales, and a 21.1% contribution from increased store count.
The company said that it has increased its selling space by 28.7% over the past year.
It said that traffic growth 'remained steady' for the quarter, at 2.0%. Its Pyaterochka chain was the main growth driver, posting a 6.0% increase in like-for-like sales, and a 25.9% increase from net new space.
Elsewhere, Perekrestok’s net retail sales growth accelerated to 20.4% year-on-year in Q2 2017 from 19.8% year-on-year in Q1 2017.
The company also recently opened two new distribution centres, in Yekaterinburg and Perm, to serve the Pyaterochka format.
In addition, some '72 Pyaterochka stores 'were refurbished in Q2 2017 as part of X5’s investment programme to upgrade existing stores,' the company said.
'In conjunction with new openings, the share of stores operating under the new concept exceeded 97% as of 30 June 2017.'
© 2017 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.