Grocery giant X5 said consolidated net retail sales increased by 41% to RUB112.2bn (£2.44bn) in the second quarter of the financial year.

The impressive performance was attributable to X5’s supermarket chains, Perekrestok and Pyaterochka which saw sales up 18% on a like-for-like basis. During the quarter, X5 added 138 net new stores, the majority being soft discounters. The company also rebranded 270 Kopeyka stores to its high performing Pyaterochka and Perekrestok chains.

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