X5 Revenue Growth Accelerates Amid Slowdown in Russian Retail
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X5 Retail Group NV, Russia’s second-largest retailer, posted the strongest quarterly sales growth in two years as it closed the gap on competitors including OAO Magnit and O’Key Group SA.
Fourth-quarter sales rose 12 percent to 150 billion rubles ($4.4 billion), benefiting from an improved product assortment and promotional activity, the Moscow-based grocer said today in a statement. That compares with growth of 6.6 percent in the previous three months.