Russian retailer sees consolidated net sales climb, although like-for-like sales fall 0.7 per cent
In Russia, X5 Retail Group has announced that its consolidated net sales jumped 10.4 per cent through the third quarter of 2012, climbing to RUB116bn (€2.8bn), driven by sales growth at Pyaterochkas, organic store growth at supermarkets and ongoing promotional activities.
However, the company’s like-for-like sales for the quarter dropped 0.7 per cent, as customer traffic fell 2.5 per cent, although there was an increase in like-for-like sales at convenience stores of 11.6 per cent.
Indeed, small-store formats such as Perekrestok Express and Pyaterochka outperformed the larger outlets such as Perekrestok supermarkets and Karusel hypermarkets, the group noted.
Source: www.fruitnet.com