Support The Moscow Times!

Sales at Russia's X5 Retailer Up Almost One-Quarter in Q3

X5 Retail Group reported a 23.1-percent year-on-year rise in sales in the third quarter.

Russia's second-biggest food retailer X5 Retail Group reported a 23.1 percent year-on-year rise in sales in the third quarter.

The company, just under 50 percent owned by Russian billionaire Mikhail Fridman's Alfa-Group, said its sales in the July-September period rose to 152 billion rubles ($3.8 billion).

The number of customers at its Pyatyorochka discount stores rose 17.6 percent from a year earlier, it said Friday.

The average spend per customer rose across the group's stores, with the biggest gain seen at Pyatyorochka.

Customers on average spent about 334 rubles ($8.30) each per visit in X5 retail stores, up 7.8 percent.

Like-for-like sales were up 13.3 percent, but monthly results showed a declining trend between July and September.

X5, Russia's second-biggest retailer after Magnit, has been struggling to turn around its business after a strategy shift several years ago and a series of management changes.

Read more

The need for honest and objective information on Russia is more relevant now than ever before!

To keep our newsroom in Moscow running, we need your support.