Source - SMW
Russia food retailer X5 Retail saw total net retail sales growth of 27.3% in 2015, the company's fastest pace of growth since 2011.

Net retail sales growth of RUB 172.2 bln was the highest in X5's history.

Net retail sales growth was driven by a 13.7% increase in like-for-like sales and a 13.6% sales growth contribution from a 29.6% rise in selling space.

 LFL sales growth  improved across all three of the company's major formats.

Chairman Stephan DuCharme said: "Despite a challenging economic environment in Russia, we delivered a strong set of numbers in 2015 and grew faster than the Russian food retail market average. We are especially proud of our 29.6% year-on-year rise in selling space: the Company added 760.9 th. sq. m. during 2015, 80% of which was attributable to organic growth. This is a truly impressive feat not only in terms of year-on-year expansion, but also measured by the absolute volume of space added.

"Growth in selling space, combined with continued adjustments to our value proposition for customers, particularly in the current environment, helped to make 2015 our best year since 2011 in terms of retail sales growth, and our best ever year for organic growth: 2015 net retail sales increased by 27.3% year-on-year, with like-for-like sales up to 13.7%."

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