Russia's X5 Retail Group has seen its total net retail sales growth increase by 25.7% in the second quarter of the year, driven by a 6.3% increase in like-for-like sales, and a 19.4% sales-growth contribution from new stores.
The retailer said that there has been a 31.8% increase in selling space since the same quarter last year.
Its Pyaterochka brand 'continued to benefit from a value proposition that is one of the best adapted for Russian consumers’ needs and from its strong opening programme, making it the key driver for X5’s Q2 2016 growth'.
Net sales at Pyaterochka rose 30.6%, which included an 8.1% rise in like-for-like sales and a 22.5% impact from new stores.
X5 added 539 new stores in Q2 2016, compared to 332 in Q2 2015.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
