X5 Retail Group N.V., Russia’s largest retailer in terms of revenue, announced its retail sales and operational performance for the first quater of 2011. Consolidated net retail sales increased 48% y-o-n in RUB terms to 111.989m and in USD terms 51% to 3.826m. 76 stores added on net basis in Q1 2011, including 80 soft discounters, 2 supermarkets, 2 convenience stores and closures of 8 Kopeyka stores. Net addition of selling space totaled 16,000 sq.m.
Andrei Gusev, X5 Retail Group CEO, commented: “Sales grew 48% in RUB terms in the first quarter or 29% excluding Kopeyka, led by a strong recovery in supermarket LFL sales growth and sustained performance of discounters”.
Source: www.retailer.ru, www.investegate.co.uk