Russian retailer O’Key has seen its like-for-like sales rise during the fourth quarter, which contributed to a 24.5% increase in total revenue.
During the period total revenues rose to RUB116bn (US$3.8bn). Gains were primarily driven by the contribution of newly opened stores. During the period, the group added more than 428,00 sq m of selling space.
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The company highlighted that like-for-like revenues rose 7.5% at stores open more than one year. While gains were driven by inflation, the group emphasised that like-for-like store traffic was up 2%.
“2012 was a successful year for O’Key in many respects. We opened the largest number of hypermarkets for a single year, we delivered on the sales and LFL revenue targets that were set at the beginning of 2012 and we continued to grow our customer base,” said CEO Patrick Longuet.
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