Dixy's revenue growth quickens to 29.5% in Oct
MOSCOW. Nov 13 (Interfax) - OJSC Dixy Group's revenue grew by 29.5% year-on-year in October 2014 to 19.4 billion rubles, the company said in a statement.
In comparison with September's revenue growth (28.3%), revenue growth in October quickened.
For January-October, Dixy's revenue grew by 25.8% to 182.9 billion rubles.
"Retail revenue of DIXY neighborhood stores increased to 15.5 billion rubles by ($381.0 million) by 33.7% in rubles (5.2% in dollars) in October 2014 compared to October 2013. For the 10M, it increased by 30.1% to 145.3 billion rubles" the statement said.
The revenue of Victoria supermarkets increased by 20.1% in October to 2.05 billion rubles and for the 10M - by 18.4% to 19.4 billion rubles. The retail revenue of neighborhood stores belonging to the Victoria Division increased by 6.7% in October and by 1.5% in the 10M to 3.9 billion rubles.
"Retail revenue of Megamart Division increased to 1.4 billion rubles ($34.4 million) by 10.4% in rubles (decreased by 13.2% in dollars) year-on-year in October 2014," the company said. In the 10M, revenue increased by 6.4% to 13.6 billion rubles.
"As of October 31, 2014, the Group increased its selling space by 22% year-on-year to 714,026 square meters," the company said. This included the selling space of Dixy's chain of Dixy-brand neighborhood stores which rose by 25% to 571,900 square meters.
In October the retailer opened 26 stores, including 24 Dixy neighborhood stores. One neighborhood store was closed. In comparison with October of last year, when the company opened 25 new stores, the rate of organic growth slowed.
For the 10M, the company opened 320 new stores, including 311 Dixy neighborhood stores and 20 stores were closed.
Dixy manages Dixy convenience stores and the Minimart and Megamart compact hypermarkets. In June 2011, Dixy purchased the Victoria Group, which includes the Victoria supermarkets, the Kvartal, Deshevo and Semeynaya Kopilka discount stores, and the Cash cash & carry store.
At the end of October, the company had 2,093 stores, including 1,966 Dixy neighborhood stores and 46 Victoria supermarkets.
Dixy is expecting revenue growth of 20%-25% in 2014.
