X5 registers 27.5% net retail sales growth in 2016
Jan 25, 2017 2:16 pm
X5 Retail Group overtakes Magnit in food retail sales growth in 2016
Russia’s food retailer X5 Retail Group is near to overtake its rival Magnit, Russia’s top retailer by sales. And it literally just did it. Excluding segment of cosmetics and drogerie, Magnit’s food retail sales growth in 2016 totaled RUB 1.004 bln, vs. X5’s RUB 1.026 bln.
In fact, X5 reports 27.5% net retail sales growth in 2016 and the highest net retail sales growth ever of RUB 1.026 bln.
According to the company’s statement, full-year net retail sales growth was driven by a 7.7% year on year increase in like-for-like sales, with traffic rising 2.5% and basket up 5.0%.
The company opened 2.167 stores in 2016 (1.537 stores in 2015), of which 613 in Q4 alone. It also increased selling space by 27.3% to 968.6 thousand sq. m. and saw like-for-like traffic growth up 2.5%.
Pyaterochka was a driving force of 2016 growth, with net retail sales increase of 32.5% year on year, encouraged by growth in like-for-like sales and a 37.4% increase in selling space.
X5 is not only working hard and successful towards its goal to become Russia’s top retailer, but, according to it’s chief Igor Shekhterman, to hold 15% share of the Russian market by 2020.
Source URL: http://eurasiatx.com/x5-registers-27-5-net-retail-sales-growth-in-2016/
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