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X5 Retail Group reports low 2012 revenue growth
Russian grocery operator X5 Retail Group has reported low preliminary revenue growth for Q4 2012 as well as for its full year.
Revenue grew by 8.6% to RUB133.88 billion (USD4.27 billion) in Q4 2012. X5's revenue in 2012 amounted to RUB490.09 billion (USD15.63 billion), an increase of only 8.3% compared to 32% in 2011. The retailer opened 800 stores during the fiscal year.
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