O'Key reports successful year

Date : 21 January 2013

Russian retailer O'Key has revealed net retail revenue of RUB115,922m for 2012, up 25.7% year-on-year, and revenue of RUB34,851 for Q4, up 24.5%.

Dixy has also reported 2012 figures this week - click here for the details.

Delivered on targets set

Like-for-like sales were a particular highlight. Good progress in LFL sales throughout the year ended with growth of 7.5% in Q4. Average basket size and shopper numbers were also up on 2011. Commenting on the results, CEO Patrick Longuet said: "2012 was a successful year for O'Key in many respects. We opened the largest number of hypermarkets for a single year, we delivered on the sales and LFL revenue targets that were set at the beginning of 2012 and we continued to grow our customer base."

Record year for hypermarket openings

O'key opened six hypermarkets in 2012, half of its total new stores for the year. Contracts were signed in Q4 to develop one hypermarket and four supermarkets. These will be followed by new stores this year; in its results announcement O'key said “a number of new stores are about to be introduced to our development pipeline over the coming weeks.”