RUSSIA: X5 Retail Reports Strong Q2 Growth

The X5 Retail Group has reported a strong set of results for its fiscal second quarter, outpacing main rival Magnit.

For the three months to end-June, sales were up 25.7% to 249.7bn roubles, on like-for-like growth of 6.3%.  The group was helped by a 3% increase in customer traffic, and a 0.6% increase in the average ticket spend.

At the Pyaterochka banner, sales were up 30.6%, while LFL sales grew by 8.1%; the Perekrestok banner reported a 19.2% increase in sales, with a 4.8% LFL increase; Karusel saw sales rise by 3.6%, although LFL sales fell by 3%; and the Express banner saw sales decline by 0.4%, while LFL sales were down 7.8%.

X5 Retail added 539 net new stores in quarter, taking its total to just over 7,900 outlets.