RUSSIA: Mixed Q3 results at X5 Retail Group
- Q3 net profit vs year-ago net loss
- Operating profit fell
- Lower hypermarket sales hit turnover
Russian retailer X5 Retail Group's bottom line improved in the third quarter year-on-year - but its sales slid and operating profit fell.
X5 booked a net profit of US$12.1m for the three months to the end of September, compared to a forex-affected loss of $2.1m a year earlier.
However, the retailer's net sales fell 0.2% to $3.62bn as sales from its hypermarkets tumbled by more than 18%. X5's operating profit came under pressure, slipping 15.4% to $98.2m.
The third-quarter results contributed to a 12% fall in net profit in the first nine months of the year to $147.3m.
Click here for our BRICs and beyond column, published in August after X5's half-year results, on why the next 12 months will be a telling year in the retailer's future.
Click here for the full release Q3 release from X5.
X5 Retail Group became more active in 2011-2012, and opened four new stores. X5 Retail Group plans to continue its expansion, and open new stores itself, as well as through franchising schemes. One of...
- M&A Watch: Raisio should sell to private equity
- Infographic: Snapshot of Japan's food sector
- On the money: Solid Lindt outpaces chocolate peers
- Spotlight: What could be impact of Russia's ban?
- Briefing: Expansion agenda of Japan's food majors
- Russian government eases ban on food imports
- Pork Farms buys Kerry Group's pastry plants
- Kerry cools claim spreads move could hit jobs
- Profits up at chocolate group Lindt
- Japan's Sanyo takes stake in Olam's food biz
- New Strategies for offering Convenience in Food - targeting new occasions, best practice and new solutions
- David Chapman's Ice Cream Ltd in Packaged Food (Canada)
- Global Bakery & Cereals Market: Merger and Acquisitions May 2014
- Food Retail: Top 5 Emerging Markets Industry Guide
- Other Dairy in Russia