X5 reports 25.9% revenue growth in Q2 2016

Источник: The DairyNews
X5 revenue growth in Q2 2016 remained strong: revenue increased by 25.9% year-on-year on the back of solid like-for-like (LFL) sales and strong selling space expansion. Pyaterochka was the main driver of growth: net retail sales rose by 30.6% y-o-y.
X5 added a total of 539 new stores in Q2 2016 vs. 332 new stores during the same period last year, delivering selling space growth of 233.2 th. sq. m, reports The DairyNews with reference to the company’s statement.

X5’s Chief Executive Officer Igor Shekhterman said: “X5 has now maintained its position as Russia’s fastest-growing public retailer by revenue for three quarters in a row. We are especially pleased to have delivered strong revenue growth, LFL performance and margin expansion despite continued challenges in the market environment. “Moreover, we have achieved these market-leading growths while remaining focused on efficiency and operational excellence. We have a number of projects underway that will help improve in-store excellence, and are already seeing some benefits in our margins whilst also being able to make targeted price investments to support our consumer base when needed. Our Geographic Information System, that we have rolled out to make choosing new store locations significantly more efficient, is a great example of a project that is helping us to grow revenue efficiently and profitably. “Looking ahead, we believe that X5 Retail Group remains well positioned to continue on its trajectory of high-quality growth, deliver on our business plan and strategic targets and generate further increases in shareholder value.”

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