X5 Retail Group has booked an 8.1% increase in first-quarter net sales, driven by store openings – although like-for-like sales were less buoyant.

During the first three months of the year, net selling space rose by 12.4%. The company’s store opening programme was largely focused on its soft discount format, where net sales were up 9.1%.

However, the company’s like-for-like performance was less robust. Total LFL sales increased by just 0.5%. Sales at the group’s soft discount banner, stripping out store openings, were actually down by 0.2%.

Significantly, X5’s growth trajectory remains in line with the firm’s full-year performance for 2012, when total sales were up 8.4%. However, its growth is dwarfed in comparison to rival Magnit, which today (12 April) claimed it had overtaken X5 to become Russia’s larget grocer by sales.

Magnit’s sales expanded by 34% during 2012 and the company is scheduled to announce its results for the first quarter on 23 April. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.