X5 Retail Group, running the network of “Pyatyorochka”, “Perekryostok” and “Karusel” stores, plans to open 1,800 – 2,000 stores in Russia, the company's CEO, Igor Shekhtermann, said over the course of a phone conferencing on Wednesday.
However, according to the company's financial director, Elena Milinova, X5 Retail Group could open much more store units. “The question is of whether we will be able to underpin the profitability according to EBITDA at a stable level, if we open, for example, 3,000 stores. That is the question. This will limit our capacity to open stores and our stability”, - said Elena Milinova.
Last year, the retailer opened 1,537 stores, having increased its trade area by 760,931 square meters.
X5 Retail Group is one of Russia's leading grocery retail companies, which is running 7,936 stores.