X5 Retail Group abandons its loyalty scheme

X5 Retail Group Head of Investor Relations Anna Kareva reported that customer loyalty card in Pyaterochka supermarkets stopped running on 1 January 2009. However, its loyalty scheme continues to run in Karusel hypermarkets and Perekrestok stores. Abolishing its loyalty scheme, reducing the number of product lines from 5,000 to 3,500 in December, and focus on the store efficiency suggests that X5 is converting Pyaterochka stores to a discount format of Western European standards.

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