X5 Retail Group, Russia’s largest supermarket chain by revenue, reported sales growth of 41% in Q2 on consumer demand and after acquiring the Kopeika food store chain.
Net retail sales climbed to 112 billion rubles ($4 billion) from 79.8 billion rubles a year earlier, X5 said Friday in a statement.
Growth rates slowed in Q2 from the first three months of the year as real incomes declined, which is expected to continue in Q3, chief executive Andrei Gusev said in the statement. Demand will probably rebound in the last three months, he said.
Source: www.freshplaza.com