PRESS: X5 Retail starts closing Perekrestok Express stores
MOSCOW, May 21 (PRIME) -- RussiaТs X5 Retail Group has started closing stores of its Perekrestok Express retail chain due to low profitability, Kommersant business daily reported Monday citing a source close to the chain.
The company failed to find buyers for the chain and already transformed 5Ц10 stores into Pyaterochka stores, while the fate of the remaining stores will be defined by the end of the year.
In 2017, Perekrestok ExpressТ revenue fell 11.6% to 9.77 billion rubles. In October 2017, X5 Retail Group announced plans to sell the Perekrestok Express chain, which comprised 170 stores at that time. Now, the chain has 116 stores.
(61.9408 rubles Ц U.S. $1)