X5 bought the Amba retail chain in the Khabarovsk Territory

Russian retailer X5 Group announced the purchase of stores of the Amba retail chain in the Khabarovsk Territory, in place of these points there will be Pyaterochka stores, reported company press service.

“The Pyaterochka retail chain has received long-term lease rights for 71 stores, the total retail area of ​​which is 49,122 sq. m. m,” the message says.

43 Pyaterochka stores will open in Amba premises in Komsomolsk-on-Amur, 14 in Khabarovsk, and another 14 in large regional centers of the region. The reconstruction of all facilities will be completed by the end of next year. X5 also added that the first Pyaterochka stores opened in the region in March, and by the end of the year their number will reach 100.

As previously reported, EBITDA X5 Group in the third quarter of 2023 according to IFRS 16 grew in annual terms by 22.1% to 94 billion rubles. (+22.1%), which is higher than the consensus forecast of experts surveyed by Vedomosti. The retailer’s net profit increased by 85.9% to RUB 25.7 billion. The group’s quarterly revenue increased by 22.9% year-on-year to RUB 796.2 billion. Net retail sales increased by 22.6% on the back of 12.6% growth in retail space and 10.2% growth in LFL sales, while sales from X5’s digital businesses grew by 97.9% YoY.