Lenta Company News - Retail sales growth decelerated to 4.6% yoy
Yesterday, Lenta released its 3Q 20 trading update and held a conference call. We consider the trading update to be slightly negative, as yoy retail sales growth decreased to 4.6% compared to 11.6% yoy in 2Q 20, and decelerated through the quarter as customers behaviour was normalising. On the other hand, so far in October, Lenta sees customer behaviour coming back to that of 2Q 20. Lentas new strategy is still being developed and should be presented early next year.Lenta is a hypermarket group based in Russia. Co. operates 87 hypermarkets in 50 cities across Russia and 16 supermarkets in the Moscow region with a total of approximately 571,328 sq.m. of selling space. Co. also operates four distribution centers for hypermarkets and one for supermarkets. operates three hypermarket formats: Standard, typically with approximately 7,000 sq. m. of selling space (smaller than many Western European hypermarkets) and 24,000 stock keeping unit (SKUs); Compact, typically with approximately 5,000 sq. m. of selling space and 20,300 SKUs; and Supercompact, typically with approximately 3,000 sq. m. of selling space and 15,000 SKUs.
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