OREANDA-NEWS. April 12, 2011. X5 Retail Group N.V., Russia's largest retailer in terms of revenue (LSE ticker: “FIVE”), announced today its retail sales and operational performance for the first quarter of 2011.

Q1 2011 Highlights

•           Consolidated net retail sales increased 48% year-on-year in RUR terms to RUR 111,989 mln and 51% in USD terms to USD 3,826 mln;

•           Organic sales increase was 29% in RUR terms while Kopeyka's Q1 2011 sales contributed approx. 19% to X5's consolidated Q1 2011 RUR net retail sales growth;

•           X5's like-for-like (LFL) sales grew 12% in RUR terms year-on-year;

•           Supermarkets performed strongly on trading up trends with Q1 2011 LFL sales growth of 19% on a 9% increase in customer traffic and 10% basket growth;

•           76 stores added on net basis in Q1 2011, including 80 soft discounters, two supermarkets, two convenience stores and closures of eight Kopeyka stores;

•           Net addition of selling space totaled 16 thousand square meters.

Andrei Gusev, X5 Retail Group CEO, commented: "Sales grew 48% in RUR terms in the first quarter or 29% excluding Kopeyka, led by a strong recovery in supermarket like-for-like sales growth and sustained performance of discounters".

"I am pleased to announce that following a thorough analysis, X5 made the decision to execute Kopeyka integration plan by the end of 2011. The rebranding of an initial 45 Kopeyka stores in the first quarter delivered instant improvements in LFL sales performance, giving us confidence in the value of accelerating the integration timetable".

Net Retail Sales Performance Net Retail Sales Dynamics by Format

 

 

 

% change

USD mln

Q1 2011

Q1 2010

y-o-y

Hypermarkets

558.7

471.1

19%

Supermarkets

859.4

646.1

33%

Soft Discounters

1,888.4

1,413.1

34%

Convenience stores

22.8

-

n/a

Online

6.6

4.0

64%

Kopeyka stores

490.3

-

n/a

Total X5 Net Retail Sales

3,826.1

2,534.4

51%

 

 

 

 

% change

RUR mln

Q1 2011

Q1 2010

y-o-y

Hypermarkets

16,351.7

14,080.1

16%

Supermarkets

25,153.4

19,313.1

30%

Soft Discounters

55,272.1

42,239.0

31%

Convenience stores

666.1

-

n/a

Online

193.3

120.3

61%

Kopeyka stores

14,352.0

-

n/a

Total X5 Net Retail Sales

111,988.6

75,752.5

48%

On a consolidated basis X5 net retail sales for the first quarter of 2011 reached RUR 111,989 mln, a year-on-year increase of 48% in RUR terms; or USD 3,826 mln, a year-on-year increase of 51% in USD terms. Acquired Kopeyka stores (including 45 stores rebranded as Pyaterochka since December 2010) contributed RUR 14,352 mln or USD 490 mln to X5's consolidated net retail sales, which added approximated 19% to X5's Q1 2011 consolidated RUR net sales growth.