RUSSIA: Retailer Dixy posts 4% rise in LFL sales
Dixy has posted sales growth for the first quarter of 2013
Russian food retailer Dixy has announced a 4% increase in like-for-like sales for the first quarter of 2014.
For the first three months of the year, the retailer saw like-for-likes rise 4.1%. It posted revenue growth of 17.8% to RUB49.8bn (US$1.43bn).
Sales were bolstered by the "strong performance" of Dixy's supermarket division which experienced 16.4% sales growth. However, sales from neighbourhood stores fell 4.7%.
Total selling space for the firm increased by 19% versus the same period last year. Dixy took its number of stores from 1,544 to 1,825.
Earlier this month, larger rivals X5 Retail Group and Magnit reported 6% and 7% increases in like-for-like sales for the first quarter.
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