Russian retailer Dixy has recorded an increase in revenues in the first four months of the year.

In the first four months of 2013, Dixy booked a 22.7% increase in revenue to RUB56.5bn (US$1.8bn).

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The retailer’s stores were closed on 1 January 2013, but open in the same period last year, and operated one day less in February compared to last year also. This two-day difference affected the company’s retail revenue growth for the first four months by 1.7% year-on-year.

As a result, adjusted sales growth was 24.4% year-on-year.

In the four-month period, Dixy opened 87 stores and closed 18 stores. As of 30 April, the company operated 1,568 stores.

Click here to view the full earnings release.

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