RUSSIA: Like-for-like sales rise 10% at Pyaterochka
Russian retailer Pyaterochka today (10 July) presented a trading update outlining store openings and reporting a like-for-like second quarter sales increase of 10%.
The company said that the merger between Pyaterochka and Perekrestok, completed in May, has progressed as planned and integration and realisation of synergies is proceeding well.
Pyaterochka Holding said that it continued its aggressive store-opening program in Q2, opening 20 new soft-discount Pyaterochka branded stores and seven new Perekrestok supermarkets during the quarter.
During the quarter, the company experienced like-for-like sales growth of 10% across both chains. Pyaterochka like-for-like sales increased by 7% for both Q2 and H1 while Perekrestok like-for-like sales rose by 14% during the second quarter and 15% for the first six months of 2006.
Pyaterochka will release its first half results in September.
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