RUSSIA: X5 sales driven by discount format
X5 Retail Group, Russia's largest retailer by sales, reported an 8.3% rise in net sales for fiscal 2012, driven by higher revenues at the group's discount formats.
The company said net sales for the year grew to RUB490.09bn (US$16.2bn) in the 12 month period. Fourth-quarter sales growth accelerated slightly, up 8.6% on the year.
The rise in sales was primarily driven by sales growth at discounters, convenience and supermarket growth lagged slightly. The company said growth reflected store openings, an improved performance from maturing stores and promotional activity. However, hypermarket sales continued to decline, the group added.
- How brands are eyeing their own retail presence
- Why Lactalis could move for Dairy Crest
- Who could swoop for Diamond Foods?
- The consistent inconsistency of European promos
- Indonesia – How ice cream makers can drive volumes
- Nestle, R&R Ice Cream in joint venture talks
- How the food industry is reacting to TPP
- Mondelez 'preparing to sell European cheese unit'
- China implements new safety regulations
- Unilever acquires Italian gelato group Grom
- Management briefing: just-food’s industry outlook for 2015
- Global Savory Snacks Market: Merger and Acquisitions August 2015
- Danone SA : Consumer Packaged Goods - Company Profile, SWOT & Financial Analysis
- E-Grocery Market in India - Market Research 2015-2019
- Food and Beverage Coding and Marking Equipment: Market Outlook 2015-2019