X5 begins rebranding Perekrestok supermarkets

Russia based X5 Retail Group has begun to rebrand some of its Perekrestok supermarkets to the price oriented Pyaterochka format. Based on Q1 2009 financial results, regional stores’ performance (stores located outside Moscow and St Petersburg) varied significantly across regions of operation, with a like-for-like sales decline by 6% overall. By contrast, Pyaterochka like-for-like sales increased in the region of 23% for the same period.