RUSSIA: X5 retail reports strong FY growth | Progresiv
The X5 Retail Group has reported its strongest set of results in four years, helped by a rapid acceleration of its store chain. In 2015, group sales were up 27.3% to a record 172.2bn roubles, with like-for-like sales growing by 13.7%. The results were boosted by the opening of 1,537 outlets during the year, up considerably from the 939 openings in 2014. 
CEO Stephan DuCharme noted: “Despite a challenging economic environment in Russia, we delivered a strong set of numbers in 2015 and grew faster than the Russian food retail market average. Growth in selling space, combined with continued adjustments to our value proposition for customers, particularly in the current environment, helped to make 2015 our best year since 2011 in terms of retail sales growth, and our best ever year for organic growth.”
At the end of the year, X5 Retail operated 7,020 stores under the Pyaterochka and Perekrestok banners. (www.kamcity.com)
