Russia’s largest food retailer X5 has posted an 18% rise in like-for-like sales for the second quarter of the year.
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The London-listed company said today (10 July) that like-for-like sales were up 18% in rouble terms, an increase that rose to 24% in dollar terms. The company did not disclose actual numbers for the period.
COO Antonio Melo said the company had seen “strong results” across its formats, pointing to particular to Moscow.
X5 had also seen “a significant improvement” in sales in Russia’s regions, Melo said. “In particular, we are pleased with the performance of our stores in the Urals region, which strongly benefited from the integration into our chain.”
X5 runs 709 Pyaterochka and Perekrestok stores in Russia and Ukraine. The company has a further 601 franchised stores in Russia and Kazakhstan.
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By GlobalDataThe company was formed after the merger of Pyaterochka and Perekrestok last year. On a pro-forma basis, the company generated sales US$3.6bn last year.
