RUSSIA: Retailer X5 sees LFL sales accelerate
Customer numbers visiting X5's Perekrestok stores worsened through quarter
Russian retailer X5 Retail Group has reported a 6% rise in like-for-like sales for the first quarter of 2014, a faster rate of growth than seen in 2013.
However, the number of customers visiting X5's Perekrestok supermarkets fell, meaning like-for-like sales from those stores rose only slowly.
The company said today (11 April) like-for-like sales were up 6.3% in the first three months of the year.
In 2013, like-for-likes inched up 0.7%, although there were signs of better growth later in the year, with sales up 3.9% in fourth quarter.
X5 saw like-for-like sales rise across all its formats in the first quarter of 2014. Growth was strongest at its Pyaterochka "economy-class stores" and Karusel hypermarkets.
However, sales from the retailer's Perekrestok supermarkets only rose 0.4% and customer traffic to the stores were down 0.6%. Traffic to the Perekrestok stores worsened through the quarter.
On a reported basis, X5's total net sales climbed 13.9% during the quarter to RUB143.9bn (US$4.04bn).
At the end of March, X5 had 4,618 company-operated stores, including 3,966 Pyaterochkas, 384 Perekrestok outlets, 81 Karusel hypermarkets and 187 Express convenience stores.
Yesterday, rival Russian retailer Magnit posted a 7.5% rise in first-quarter like-for-like sales. The retailer's net sales were up 25% at RUB163.95bn.
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...
The company is planning further expansion of its outlet network. In 2014, Magnit plans to open 1,100 convenience stores, 350 cosmetic stores and 80 hypermarkets. The company aims to create a leading h...
The company is planning further expansion of convenience stores locations and hypermarket. In 2013 Magnit plans to open 1,100 convenience stores, 250 cosmetic stores and 60 hypermarkets. The company a...
Agricultural Products in Russia industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2009-13, and forecast to 2018). The profile...
Grocery retailers began to develop in Russia much earlier than other retailing channels. Grocery retailers in Russia has historically been a highly fragmented channel in which a high number of small i...
Introduction Food Retail in Russia industry profile provides top-line qualitative and quantitative summary information including: market size (value 2009-13, and forecast to 2018). The prof......
The impact of the economic crisis and reforms in the taxation system were the main factors influencing grocery retailing in Ukraine in recent years. The outlook at the beginning of 2012 was rather opt...
The economy gradually began to recover from the global economic recession in 2011-2012; however, the majority of consumers were not too optimistic about the modest signs of recovery, due to the threat...
- M&A Watch: Raisio should sell to private equity
- Infographic: Snapshot of Japan's food sector
- Analysis: Market bets on higher Chiquita offer
- Briefing: Expansion agenda of Japan's food majors
- On the money: Solid Lindt outpaces chocolate peers
- Kerry cools claim spreads move could hit jobs
- Pork Farms buys Kerry Group's pastry plants
- Profits up at chocolate group Lindt
- Japan's Sanyo takes stake in Olam's food biz
- Arla confirms extent of job cuts after Russia ban