X5 Retail Group, Russia’s largest grocer by sales, today (10 July) posted a 27% jump in half-year like-for-like sales after seeing growth across all formats.
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The company said net retail sales, which do not include contributions from franchisees, were up 61% during the first six months of the year to US$3.7bn.
The result also excluded figures from hypermarket chain Karusel, which X5 bought earlier this year.
X5, however, outlined Karusel’s performance during the first half of 2008, stating that the chain saw sales rise 35% on a like-for-like basis.
CEO Lev Khasis said the company would continue with its “aggressive expansion plans” and look to integrate the Karusel chain into the rest of the business.
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By GlobalDataCOO Antonio Melo said a decision on which, if any, Karusel stores would be rebranded would be announced when X5 publishes its full first-half financial results on 28 August.
