CEO: X5 Retail Group to launch fewer stores in ’20 than in ’19

ST.PETERSBURG, Jun 10 (PRIME) -- X5 Retail Group will launch fewer stores in 2020 than in 2019, CEO Igor Shekhterman told PRIME in an interview released on Monday.

In 2018, the company opened 2,310 stores and in its report for 2018, X5 Retail Group forecasted to launch about 1,800 stores in 2019, including the closed ones.

Shekhterman said, “We gave a guidance for the launches in 2019 at about 2,000 (without closed stores). I cannot give a forecast for the next year but the number of launches will be smaller ... We are moving towards a smaller number of launches but with the choice of higher quality locations, higher efficiency and without damage to the return on investments.”

The official added that the retailer is thinking about development of online and online plus offline stores.

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