Dixy Group, the Russian retailer, said today (2 April) that it plans to further expand its store footprint in the wake of strong sales growth last year.
The company said it would open 100 more stores in 2008, expansion that will help it boost its total selling space by 30% to 200,000 sq metres.
Dixy operates 393 stores in Russia across four formats. The company’s core business is discount retailing with some 372 namesake outlets in its roster.
The company saw like-for-like sales rise 28% in 2007. Net sales – including the impact of new stores – jumped 43.7% to US$1.4bn. Net income rose 86.2% to $16.7m.
“The company’s 2007 results are quite impressive,” said president Vitaly Klyuchnikov. “Our efforts, aimed at the expansion of our customer base and the development of retail formats, enabled us to increase the effectiveness of operations and profitability of our business.”