X5 Retail Group reported a 33% jump in full-year revenue, boosted by new stores openings and lower prices.
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Russia’s largest retailer in terms of revenue, today (19 January) reported that 2009 sales reached RUR275.18bn (US$9.3bn).
X5’s like-for-like sales grew 10% in rouble terms year-on-year on the back of 5% traffic growth. Sales increased 4% in US dollar terms.
On a pro-forma basis, sales grew 25% in rouble terms, at the upper end of its own forecast of a 24-25% rise.
The firm opened 271 stores in the 2009 financial year, increasing warehouse space by 118 thousand sq m on a net basis.
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By GlobalDataLev Khasis, X5 CEO, said: “X5 met its 25% revenue growth target for 2009 and delivered the highest like-for-like sales increases of any Russian retailer. With many retailers weakened by the economic downturn, X5 responded aggressively to win customers with superior offerings and strengthen its leadership in all regions of operations.”
