Retailer O'Key boosts sales revenue by 11.6% to 20.3 bln rubles in Q1
MOSCOW. April 8 (Interfax) - Retailer O'Key increased sales revenue by 11.6% year-on-year to 20.3 billion rubles in the first quarter of 2011, the company said in statement.
Like-for-like sales for the quarter went up by 2.3%. The company's hypermarket in St. Petersburg, the roof of which collapsed in January was excluded from these results. The store was closed for repairs and did no operate in February and March.
In addition, following the incident, the retailer decided to close all stores in St. Petersburg for several days. However, after reopening, the stores showed a drop in traffic, the company's chief, Patrick Longe, was quoted as saying in the statement. The shutdown of the hypermarket on the Vyborg Highway had a substantial influence on O'Key's LFL sales, Longe said.
Total purchases in the company's stores went down by 2.8% in the quarter. However, the average purchase increased by 5.2%.
The company opened two new stores in the first quarter. Total outlets had increased to 59 by March 31. The company manages 36 hypermarkets and 23 supermarkets. O'Key's total retail floorspace comes to 293,000 square meters.
By year's end, O'Key plans to have expanded its retail floorspace by 30%.