CFO: X5 Retail Group may slow down launches of new stores
MOSCOW, Apr 26 (PRIME) -- RussiaТs X5 Retail Group may slow down launches of retail stores in 2019Ц2020, CFO Svetlana Demyashkevich said in a conference call on Thursday.
УWe are now working on a strategy, we will discuss our launch plans (of stores) in 2019Ц2020. I wonТt be surprised if we see a slowdown of launches over the next few years. It would allow us to focus on our efficiency and on improvement of operating activity of our stores among other things,Ф she said.
In 2017, the company launched 2,934 new stores. As of the end of March 2018, the company operated 11,797 Pyaterochka stores, 674 Perekrestok supermarkets, and 92 Karusel hypermarkets. In late March, CEO Igor Shekhterman said that the company planned to launch about 2,500 stores in 2018.