X5 Retail Group, Russia’s largest retailer, said today (20 January) that full-year net sales grew 53% in 2008 due to the opening of new stores and the acquisition of the Karusel chain.
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On a consolidated basis, including acquired Karusel stores, X5’s net retail sales for the full year reached US$8.30bn, up 57% in US dollar terms or 53% in rouble terms.
For a second consecutive year, the group said its like-for-like sales growth exceeded 20%, reaching 22% in 2008, with the balance of full-year retail sales growth coming from expansion in selling space.
Pro-forma net retail sales grew 41% year-on-year in rouble terms and 45% in US dollar terms to US$8.8bn.
“In 2008 X5 further strengthened its leadership in Russian retail, and we delivered on all our plans for the year,” said X5 CEO Lev Khasis. “2008 was a break-through year for our hypermarket format as we acquired Karusel, successfully integrated the acquired stores and tripled our hypermarket store count from 15 to 46.”
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By GlobalDataFor the full year, gross sales at the acquired Karusel hypermarkets increased by 30% in rouble terms. Like-for-like sales were up 20%.
Like-for-like sales from X5’s supermarkets increased by 23% in rouble terms for the full year.
