X5 Company News - Sales growth was helped by customers stocking up
X5 reported an expectedly strong 1Q 20 trading update with sales growth accelerating to 15.9% yoy, largely driven by consumers stocking up in March. The company sees elevated demand continuing into April. In the current circumstances, proximity stores are performing better than larger formats (supermarkets, hypermarkets) and demand for grocery delivery services is booming. The company is implementing a number of measures to protect its employees and customers as well as to satisfy the demand.X5 Retail Group is a holding company. The main activity of Co. is the development and operation of grocery retail stores. Co. operates a retail chain of soft-discount, supermarket and hypermarket stores under the brand names "Pyaterochka", "Perekrestok" and "Karusel" in major population centres in Russia, including but not limited to Moscow, St. Petersburg, Nizhniy Novgorod, Rostov-on-Don, Kazan, Samara, Lipetsk, Chelyabinsk, Perm, Ekaterinburg and Kiev, Ukraine.
The Institutional Equity Research team of Raiffeisen Bank International AG covers 85 stocks from Austria, Central & Eastern Europe with sell-side research and thus levers our local broker status with excellent company relationships. For corporates in Austria, CEE and Western Europe, we offer co-sponsored research, which includes research coverage and marketing activities to investors. Additionally, through our Spotlight Research product we also shed light on leading European small and micro-caps, seeking greater visibility with investors.
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