Russian electronics retailer M.video has posted an unaudited net sales increase of 30.6% for the first quarter ended 31 March 2012. Like-for-like sales rose 18.8% over the same period last year. During the quarter, the company opened seven stores with one closure in St Petersburg. The total number of outlets rose to 267 with an overall selling space of 492,000 square metres. The retailer is to launch 25-35 new units in 2012.
Alexander Tynkovan, President and CEO of M.video, said: “We again achieved impressive sales results due to improved consumer confidence as demonstrated by the increased number of transactions. We also benefited from our proactive approach in internet sales and introduction of the Omni-Channel strategy in the Russian consumer electronics retail.”
