X5 reports like-for-like sales growth
Moscow, Russia: Food retailer X5 Retail Group has reported Q1 like-for-like sales growth of 13% for the three months to 31 March. The group, which was created by the merger of the Pyaterochka and Perekrestok chains a year ago, said it had opened 62 new stores during the quarter, giving it an additional 348,000 sq ft of retail space. "We are very pleased that all our brands have shown strong operational performance on the back of successful integration," said group CFO Vitali Podolski. "Both chains somewhat exceeded our expectations on like-for-like sales performance while staying firmly on track with new store openings."