X5 Retail Group plans move into hard discount space | Progresiv
X5 Retail Group Chief Executive Officer Igor Shekhterman has announced that the Russian retail giant will test a new hard discounter format. A final decision on whether to go ahead with a full-scale roll-out will likely be made in December 2020. Few other details were revealed besides the announcement, made during an analyst call to discuss the company's final 2019 results 
Chief Financial Officer Svetlana Demyashkevich was positive regarding predicted revenue growth in 2020, though in 2019, the retailer’s capex amounted to 81 billion rubles, a decrease of 3% in comparison to 2018. Demyashkevich also added that there might be less store openings than expected in 2020 considering the current market economic condition and that X5 would exercise caution over its investment comittments for 2020, meaning the store remodelling programme may decelerate as a result. (www.kantarretailiq.com)
