X5 Retail sales up

Russian food retailer X5 Retail Group's total net retail sales growth accelerated to 30.2% y-o-y in the third quarter from 25.7% in the previous three months.

The group says this was driven by a 9.1% increase in like-for-like (LFL) sales and 21.1% sales growth contribution from a 30.7% rise in selling space.

In Q3 2016, X5's LFL traffic growth increased to 3.2% y-o-y from 3.0% y-o-y in Q2 2016.

Pyaterochka, which continues to attract value-seeking customers and benefit from a strong opening programme, was the key driver for X5's Q3 2016 growth.

Net retail sales accelerated to 36.1% y-o-y from 30.6% in Q2 2016 on the back of and 11.2% rise in LFL sales and a 24.9% increase from net new space, resulting from a 39.2% rise in selling space.

In Q3 2016, Pyaterochka broke yet another company record, adding 265.7 th. sq. m. of selling space, most of which was organic.

Perekrestok's net retail sales growth accelerated to 19.5% y-o-y in Q3 2016 from 19.2% y-o-y in Q2 2016.