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Lenta reports rise in sales as online growth jumps in Q3
StockMarketWire.com
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Russia-based retailer Lenta reported a rise in like-for-like in the third quarter of the year as strong online growth eased the impact of a decline in foot traffic amid the ongoing pandemic.
LFL sales grew 3.0% in Q3 2020, with average ticket growth of 9.2% and customer traffic declining 5.7%.
Retail sales were up 4.6% in Q3 year-over-year to RUB 102 billion.
Online Sales grew to RUB 1.3 billion in Q3 2020, an increase of 551% year-over-year, serving customers across 82 cities.
Lenta added 6 stores on a net basis in Q3, bringing the total number of retail stores to 386.
'In the interim, we will remain focused on the key factors that affect the choices our customers make daily, such as an attractive and relevant assortment that emphasizes quality rather than quantity and is a great value for money proposition for a wide range of consumer group,' the company said.
Story provided by StockMarketWire.com
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