X5 reports sales growth of 57% in 2008
Russian retail group X5 reported that consolidated net retail sales grew by 53% year-on-year in RUB terms and 57% in USD terms to USD8.3 billion. For a second consecutive year, the Group’s LFL sales growth exceeded 20%, reaching 22% in 2008. In 2008 the group added 233 stores, 24 of which were acquired Karusel hypermarkets, 7 hypermarkets which opened organically, 28 supermarkets and 174 soft discounters. The total net selling area increased over the year by 264,800 square metres. As a result, at 31 December 2008, X5 Retail Group, operated 1,101, consisting of 848 Pyaterochka stores, 207 Perekrestok supermarkets, and 46 hypermarket stores, with the total net selling space of 874,000 square metres.
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