Russian retail group X5 has reported consolidated net retail sales growth of 10.4 per cent,
and a decline of 0.7 per cent in like-for-like sales for the three months to the end of September.
The group’s third quarter hypermarket sales decreased by 9.9 per cent year-on-year, which it attributed to the cancellation of the chain’s loyalty program in February and the negative impact of the format’s like-for-like sales, which dropped 12 per cent.
The convenience format performed well with sales up 74.3 per cent, and 11.6 per cent on a like-for-like basis. Supermarket sales were down 5.9 per cent, as its like-for-like sales declined by 2.7 per cent. X5’s soft discounter operations reported a 15.9 per cent sales increase, 2.6 per cent on a like-for-like basis.
The group increased its net sales space by 8 per cent in the first nine months of the year and added 174 stores in the third quarter, 157 soft discounters, nine supermarkets and 14 convenience stores, bringing its total to 3,472.
Source: www.esmmagazine.com