Russian retailer X5 Retail Group has announced its preliminary consolidated net sales and operational results for the third quarter of 2016.
Net sales growth for the company has accelerated to 30.2% year-on-year in Q3 compared to 25.7% in Q2 2016. The hike has been driven by an increase of 9.1% in like-for-like sales and 21.1% sales growth, from a 30.7% rise in selling space.
Traffic growth has seen an increase to 3.2%, up from 3.0% y-o-y in Q2 2016. Pyaterochka net sales accelerated to 36.1% year-on-year, up from 30.6% in Q2 2016, attributed to a strong opening programme and continued attraction of value-seeking consumers.
Perekrestok delivered positive like-for-like traffic in Q3 for the third quarter in a row.
X5 added 638 new stores to its portfolio in Q3 2016 compared to 541 in Q3 2015.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Aoife Lawless. To subscribe to ESM: The European Supermarket Magazine, click here.
