In 2023, X5 Group will accelerate the opening of Chizhik discount stores, the company said in a statement with financial results for 2022.
“We continue to see outstanding performance of our Chizhik hard discount format since its launch in the fall of 2020. In 2022, Chizhik’s net income grew 12 times compared to the previous year and amounted to around 36 billion rubles, and the number of stores increased seven times, to 517 at the end of December,” said Igor Shekhterman, CEO of the group.
He added that this format is popular among customers looking for the best prices “in the face of growing food inflation.”
Demand for “hard” discount stores influenced the decision to speed up the opening of such stores. In addition, the company allows access to new regions through alliances with local retail chains.
Plans for 2023 include expansion into the Far East region. In the first quarter, the company will conduct an infrastructure needs assessment and outline a course of action.
The report also notes that the group’s digital business net income increased by 46.6% compared to 2021 and amounted to 70.4 billion rubles.
Author:
Natalia Gormaleva
Source: RB
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