Russian retailer X5 has booked a 32% drop in net profit for the first quarter as depressed consumer sentiment left sales flat.

In an announcement today (17 May), X5 said that net profit fell to US$66.3m, down from $96.9m in the comparable period of last year. The company’s net profit margin stood at 1.7%, down from 2.5% last year.

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

EBITDA amounted to $274m in the period, or 7.1% of total net sales, down from $281.1m, or 7.3% of sales last year.

Sales were 0.7% up to $3.87bn, the group added, with the biggest losses seen at X5’s hypermarket business, where total sales were down 10.3%, and online, where sales plummeted 86.8%. However, the company revealed that its convenience business had seen sales growth of 31.7% in the three months.

In April, X5 revealed that it had missed sales forecasts with like-for-like sales down 3.9%, year-on-year. The retailer blamed an under-investment in advertising for the drop.

Click here for the full release. 

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now