Russian retailer Dixy has insisted it is out-performing its rivals despite the company’s like-for-like sales growth slowing in the third quarter of 2011.
Dixy saw its like-for-like sales increase by 6.7% during the three months to the end of September. Over the first nine months of the year, however, its like-for-likes increased 9%.
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In the third quarter, Dixy said like-for-like traffic to its stores had fallen 2.9% during the quarter. In the nine months to the end of September, like-for-like traffic was down 2.2%.
However, there was an acceleration in the amount Russian consumers were spending in Dixy’s stores. The retailer’s average ticket increased 9.9% in the third quarter; over the first nine months, the increase was 9.5%.
A spokesperson for Dixy said the fall in like-for-like traffic was common to all retailers in Russia but insisted the company’s sales compared well to its competitors.
“It is the latest trend of all major retailers in Russia. At the same time our total LFL is higher than the competitors’ and the average transaction grew,” he said. “This may be due to the fact that customers tend to save time and come to the stores more seldom, buying more during one visit.”
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By GlobalDataOver the first nine months of the year, Dixy’s total consolidated revenue increased 48.2% to RUB68.3bn (US$2.29bn) thanks in part to this year’s acquisition of fellow retailer Victoria Group.
On a pro-forma basis, which compares sales if Victoria’s stores were included in last year’s nine-month results, Dixy said its revenue was up 20.9% at RUB87.9bn.
