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Fix Price Group PLC (FIXP)
Fix Price opened 751 net new stores in 2023
09-Jan-2024 / 15:00 MSK
Fix Price opened 751 NET new stores in 2023
9 January 2024 – Fix Price, one of the leading variety value retailers globally and the largest in Russia, has successfully achieved its 2023 target by opening 751 net new stores. The highest number of net new stores was recorded in the Moscow Region (76 stores), Moscow (45), the Krasnodar Territory (44), the Kemerovo (30) and Chelyabinsk (23) regions. Within the year, March, June, and December emerged as the most active months in terms of store openings.
Fix Price has successfully maintained solid network growth for multiple years by standardising business processes and embracing cutting-edge technologies, supported by the agile and decisive leadership of its top management team amid a rapidly evolving environment.
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“Accomplishing plans is always satisfying, but it is doubly so to see stores packed and customers quickly emptying the shelves in the very first days after opening. This was the case in the Magadan Region, a newly entered domestic destination for our retail chain in 2023, as well as in Armenia and Mongolia, where our brand recently gained a foothold.
Opening 60–70 stores every month is both a challenge and a natural outcome of the concerted teamwork across all Company departments, including logistics, HR, finance, and IT. Our efficiently designed business model consistently proves its strength over time. In 2024, similar to the last year, we aim to open no less than 750 net new stores.”
Vladimir Pogonin, Store Management Director at Fix Price
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As at 31 December 2023, Fix Price operated 5 756 stores in Russia and 658 stores abroad.
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About the Company
Fix Price (LSE and MOEX: FIXP, AIX: FIXP.Y), one of the leading variety value retailers globally and the largest in Russia, has been helping its customers save money every day since 2007. Fix Price offers its customers a unique and constantly updated assortment of non-food goods, including personal care and household products, and food items at low fixed price points.
As of 30 September 2023, Fix Price was operating 6,162 stores in Russia and neighbouring countries, all of them stocking approximately 2,000 SKUs across around 20 product categories. As well as its own private brands, Fix Price sells products from leading global names and smaller local suppliers. As of 30 September 2023, the Company was operating 12 DCs covering 80 regions of Russia and 8 neighbouring countries.
In 2022, the Company recorded revenue of RUB 277.6 billion, EBITDA of RUB 54.2 billion and net profit of RUB 21.4 billion, in accordance with IFRS.
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Contacts
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Fix Price Investor Relations
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Fix Price Media Relations
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Elena Mironova
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Ekaterina Goncharova
ru
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Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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