In the four month period, Dixy opened 87 stores

In the four month period, Dixy opened 87 stores

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).

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.