Revenue of Russia’s Optoklub Ryady soars to 3.5 bln rbl in Jan–Sep

MOSCOW, Oct 17 (PRIME) -- The revenue of Russian retailer Optoklub Ryady more than doubled on the year to 3.5 billion rubles in January–September from 1.6 billion rubles in the same period of 2016, the company said in a statement on Tuesday.

The number of checks increased by 78% on the year with an average sum in the check rising 22% to 2,576 rubles in the period, the company said.

Currently, the retailer operates three warehouse clubs, and plans to expand to 22 warehouse clubs by 2020. “Now we are full speed ahead in preparations to launch Moscow’s first large-scale low-cost retail store,” the company said quoting co-owner August Meyer as saying.

Optoklub Ryady works in a format that is new for Russia and similar to U.S. companies Costco and Sam’s Clubs. In 2016, the retailer’s revenue stood at 2.5 billion rubles.

(57.0861 rubles – U.S. $1)

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