X5 Retail Group N.V., Russia's largest retailer in terms of revenue, announced today preliminary consolidated net retail sales and operational performance for the third quarter (Q3) and nine months (9M) of 2012. For the third quarter 2012 consolidated net retail sales of X5 increased 10.4% year-on-year in Rouble terms to RUR 115,882 million. Sales for Q3 increased y-o-y by 11.1% due to organic expansion, which was offset by a 0.7% decrease in LFL sales.
In the third quarter 174 stores were added on a net basis, including the opening of 157 soft discounters, nine supermarkets, 14 convenience stores and six store closures.
For nine months of 2012 consolidated net retail sales in X5 Retail Group increased by 8.2% y-o-y to RUR 356,207 mln.
X5 selling space as at 30 September increased by a net 223,814 sq. m., or 13.6% y-o-y, and was primarily driven by soft discounters, which increased by 18.5% y-o-y.
As at 30 September 2012, X5 operated 3,472 stores (1,865 thousand sq. m. of selling space) and was present in 662 locations of European Russia, the Urals and Ukraine.
