X5 reported revenue growth of all formats since the beginning of the year
Revenues of all formats of X5 retail chains continue to grow, despite the slowdown in the market, the company’s CEO Igor Shekhterman said at the annual conference for suppliers of X5 Dialog. For eight months of this year, stores near the house "Pyaterochka" added 9.3% year-on-year, supermarkets "Perekrestok" - 7%, discounters "Chizhik" - 31.1%.
Revenues of all formats of X5 retail chains continue to grow, despite the slowdown in the market, the company’s CEO Igor Shekhterman said at the annual conference for suppliers of X5 Dialog. For eight months of this year, stores near the house "Pyaterochka" added 9.3% year-on-year, supermarkets "Perekrestok" - 7%, discounters "Chizhik" - 31.1%. The online direction increased revenue by 28% for the same period last year.
The most notable growth was shown by the Okolo franchise, whose revenue increased by 61.2% year-on-year, Mr. Shechterman said. This year, the chain exceeded the mark of 8.5 thousand new stores - an increase of twice in a year. X5 already holds about 18% of the food retail market.
Structural changes are taking place in food retail, Igor Shekhterman said. This is influenced by the trend on savings, a decrease in food inflation, an increase in costs and risks, a deficit in the labor market and an increase in the cost of logistics. “Despite all the challenges, the company continues to strengthen its position as the leader of Russian retail and pays great attention to finding joint solutions for the efficiency and development of suppliers,” he said.
Read more about the development of the market of grocery retail – in the material “Kommersant” “Shops slowed down the opening”.
Alina Migacheva
