Russian retailer O’Key has booked an increase in third-quarter sales amid a “stable” trading environment and an increase in selling space.
In the three month period, like-for-like sales increased 4.5%, the retailer reported today (12 October).
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Net sales climbed 26.1% year-on-year to RUR27.5bn (US$886.5m). O’Key said it opened two stores, one hypermarket and one supermarket during the quarter.
In the first nine months of the year, like-for-like sales were up 6.7%, while net sales increased 26.3% to RUR81m.
“The trading environment during the third quarter of 2012 was stable, and the general rate of inflation accelerated compared to Q2, particularly in the food segment, which was reflected in prices,” said CEO Patrick Longuet. “I am pleased to note that growing inflation has not led to a decrease in traffic in our stores and revenue growth accelerated quarter-on-quarter.”
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