X5 Retail sales up 24.9%

Russian food retailer X5 Retail Group's net retail sales rose by 24.9% in the third quarter to RUB317,131m.

Like-for-like sales were up 4.6% and 20.3% sales growth came from a 27.8% rise in selling space.

X5's LFL traffic growth increased to 2.5% y-o-y from 2.0% y-o-y in Q2.

Pyaterochka was the main driver of growth in Q3; net retail sales rose by 28.8% y-o-y, on the back of a 4.0% rise in LFL sales and a 24.8% increase from net new space, resulting from a 34.1% rise in selling space.