X5 Retail Group Sees Sales Rise 24.9% In Q3
Russia's X5 Retail Group has posted a 24.9% increase in sales for the third quarter of the year, with sales tolling RUB 317,131 million.
The group experienced a 4.6% increase in like-for-like sales, while 20.3% sales growth contribution came from an increase in selling space compared to the same period last year.
In Q3, X5's like-for-like traffic growth increased to 2.5% year-on-year, from 2% year-on-year in the second quarter.
X5's Pyaterochka supermarket chain was the main driver of growth in the third quarter, with sales rising by 28.8% year on year to RUB 251,653 million.
Meanwhile, Perekrestok's retail sales growth also remained strong, increasing by 18.1% year on year to RUB 42,417 million. It was also the format with the highest growth in like-for-like traffic.
The Karusel hypermarket brand experienced a 3.8% increase in sales, however, X5's Express convenience stores saw sales decline by 13.7%.
The retailer opened 820 new stores during the third quarter, and last month it announced the opening of its 11,000th store.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.