X5 plans to increase its sales by 40% and to open 540 stores

X5 Retail Group, the largest Russian food retailer, plans to increase its sales by 40% and to open additional 540 stores.

The year 2010 has been quite prosperous for X5 Retail Group, which saw sales increase by 20%. The year 2011 will be better, the Russian distributor expects its sales will exceed 500 billion rubles ($ 16.3 billion) representing an increase of 40%.

Its recent acquisition of the Kopeyka chain should represent 20%. The Russian distributor intends to accelerate its growth and plans to open 540 additional stores in 2011.

On September 30th 2010, the group held 1630 X5 stores (1232 soft discount stores, 289 supermarkets, 65 hypermarkets and 44 convenience stores) in the regions of Moscow, St. Petersburg, the Urals and Ukraine. 632 stores are operated under franchise.

Source: Moscow Times, images food