THE RETAIL BULLETIN - The home of retail news
Click here
Home Page
News Categories
Commentary
Department Stores
Electricals and Tech
Entertainment
Fashion
Food and Drink
General Merchandise
Grocery
Health and Beauty
Home and DIY
Interviews
People Matter
Retail Business Strategy
Property
Retail Solutions
Electricals & Technology
Sports and Leisure
Christmas Ads
Shopping Centres, High Streets & Retail Parks
Retail Events
People in Retail Awards 2024
Retail HR Central 2024
The Future of The High Street 2024
Retail HR Summit
THE Retail Conference
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Lenta reports strong fourth quarter sales growth

Russian supermarket giant Lenta has reported that sales climbed by 30.6% to 59.5 billion roubles in its fourth quarter. Meanwhile, like-for-like sales increased by 7.6% year-on-year… View Article

GENERAL MERCHANDISE NEWS

Lenta reports strong fourth quarter sales growth

Russian supermarket giant Lenta has reported that sales climbed by 30.6% to 59.5 billion roubles in its fourth quarter.

Meanwhile, like-for-like sales increased by 7.6% year-on-year boosted by double-digit growth in December.

The company opened 21 hypermarket and eight supermarkets in the period to take its total number of stores to 132 at the end of December.

The results mean that total sales climbed by 34.5% year-on-year in 2014 to 194 billion roubles which was in line with the expectations. Like-for-like sales grew 10.6% in the year.

Lenta chief executive Jan Dunning said: “Lenta further extended its track record of rapid growth during 2014, opening a record 31 hypermarkets and 14 supermarkets and increasing net selling space by 39%.

“It is clear that the economy will face further challenges in 2015. Lenta will continue to focus on improving value for our customers and increasing productivity. Our team has developed a very strong pipeline of projects for the upcoming years, but we will closely monitor market conditions and optimise our store opening programme as appropriate to maintain high returns in combination with a healthy balance sheet.

“Having added around 195,000 sq.m. of selling space in 2014 we remain on track to meet our long-term target of doubling net selling space over the three years to December 2016.”

 

Subscribe For Retail News