X5 Retail Group net retail sales up 24% in RUB terms

X5 Retail Group has reported that net retail sales increased 24% year-on-year in the third quarter to RUB65.7 billion (USD2.11 billion). Like-for-like sales grew 8% year-on-year, supported by 7% traffic growth. Its discounter's customer traffic surged 12%, driving Pyaterochka’s like-for-like sales growth of 16% year-on-year. The retailer added 53 stores and 26,900 square metres of sales area on a net basis. The total warehouse space increased by 65,600 square metres as the company opened its first non-food distribution centre and continued to expand its food warehouse capacity. "Trading down persists and we do not yet see signs of recovery in consumer behavior. We expect these external factors to put further pressure on average purchase size and top-line performance in the fourth quarter," Chief Executive Lev Khasis said in a statement.