X5 Retail Group N.V., Russia«s largest retailer in terms of revenue (LSE ticker: “FIVE»), announced today its retail sales and operational performance for the first quarter of 2011.
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· Consolidated net retail sales increased 48% year-on-year in RUR terms to RUR 111,989 mln and 51% in USD terms to USD 3,826 mln; · Organic sales increase was 29% in RUR terms while Kopeyka’s Q1 2011 sales contributed approx. 19% to X5’s consolidated Q1 2011 RUR net retail sales growth(2); · X5’s like-for-like (LFL) sales grew 12% in RUR terms year-on-year; · Supermarkets performed strongly on trading up trends with Q1 2011 LFL sales growth of 19% on a 9% increase in customer traffic and 10% basket growth; · 76 stores added on net basis in Q1 2011, including 80 soft discounters, two supermarkets, two convenience stores and closures of eight Kopeyka stores; · Net addition of selling space totaled 16 thousand square meters.
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X5’s LFL sales in the first quarter 2011 increased by 12% in RUR terms, driven by a 4% increase in customer traffic and 8% increase in average basket.
Andrei Gusev, X5 Retail Group CEO, commented: «Sales grew 48% in RUR terms in the first quarter or 29% excluding Kopeyka, led by a strong recovery in supermarket like-for-like sales growth and sustained performance of discounters».
«I am pleased to announce that following a thorough analysis, X5 made the decision to execute Kopeyka integration plan by the end of 2011. The rebranding of an initial 45 Kopeyka stores in the first quarter delivered instant improvements in LFL sales performance, giving us confidence in the value of accelerating the integration timetable», added Mr. Gusev.
In the first quarter 2011, X5 added net 76 stores, including 80 soft discounters, two supermarkets, two convenience stores and closures of eight stores, including eight Kopeyka stores. As a result, total net selling space increased by net 15,944 sq.m.
As at 31 March 2011, X5 Retail Group was present in 52 cities of European Russia, the Urals and Ukraine, operating 2,545 stores in total (1,571 thousand sq.m. in selling space). This includes 1,472 Pyaterochka soft discounters (excluding 45 Kopeyka stores rebranded as Pyaterochka), 303 Perekrestok supermarkets, 71 hypermarket stores (including two Pyaterochka-Maxi stores), 47 convenience stores and 652 Kopeyka stores (including 45 stores rebranded as Pyaterochka).
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