Russian food retailer X5 has reported its first-quarter (Q1) fiscal 2022 net sales grew 19.0% to RUR96.4bn ($1.2bn) compared to the corresponding period the prior year.
Operating retail chains such as Pyaterochka, Perekrestok and Chizhik, the company reported its total net sales for Q1 rose by 11.7% year-on-year (YOY) in like-for-like (LFL) sales.
Total sales contributed 7.3% to sales growth from a 7.4% increase in selling space.
Driven by accelerated demand in March, net offline retail sales for Pyaterochka rose 19.8% YOY, and LFL sales increased by 12.6%.
Net offline sales for Perekrestok grew 10.2% YOY, with LFL sales growth at 8.0% in Q1 2022.
Chizhik also saw its net sales increase 35 times YOY in Q1 2022 compared to the same period last year.
Net sales for the group’s online business in the first quarter reached RUR18.8bn ($235.9m).
During the quarter, the group opened 384 gross new-concept stores and 14 dark stores. It also refurbished 147 Pyaterochka stores.
The business operates a total of 5,028 stores under the new concept, as of 31 March 2022.
The company also opened five Perekrestok supermarkets following refurbishment in Q1, taking its stores portfolio to 236 supermarkets.
Chizhik also opened 17 new stores during the quarter, taking its total portfolio to 89 stores as of 31 March 2022.
With 19,479 company-operated stores, X5 has a strong presence in the European part of Russia. It has more than 328,000 employees.