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Russian Grocer Lenta Reports Q3 Sales Up 32.9%

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Russian Grocer Lenta Reports Q3 Sales Up 32.9%

Russian retail operator Lenta has announced its its third-quarter sales soared by 32.9 per cent to 48.5bn roubles.

The retailer posted like-for-like growth of 8.9 per cent.

The robust performance was helped by its store expansion and increased customer traffic to outlets, it said.

Lenta is continuing with its full-year forecast of revenue rising by 34 per cent - 38 per cent.

"We must be very careful about the market because buyers have already started to change their behaviour, adapting to the country's economic conditions," said the retail giant.

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Earlier this month, Lenta announced it will open a new hypermarket in Almetyevsk, Tatarstan in the fourth quarter of 2014.

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