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Lenta reports uptick in Q4, annual sales on hypermarket, supermarket, online growth
StockMarketWire.com
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Hypermarket chain Lenta reported a rise in retail sales in the fourth quarter and full year as an increased in average ticket offset a fall in the number of tickets sold.
In Q4, retail sales rose by 5.7% year-over-year to RUB 122 billion in Q4 2020, driven by a 12.4% increase in average ticket and partially offset by a 5.9% decrease in the number of tickets.
Average ticket growth in Q4 was 11.6% and customer traffic declined 5.5%.
In FY 2020, retail sales increased by 7.3% to RUB 438 billion, with online sales and orders up by 566% and 716% respectively, to RUB 6.3 billion and 3.2 million orders.
'This increase was mainly driven by an 11.6% rise in average ticket for both Hypermarkets and Supermarkets and partially offset by a 3.9% decrease in the number of tickets,' the company said.
In 2020, Lenta added 13 stores on a net basis, bringing the total number of retail stores to 393 and selling space to 1.52 million square meters as of 31 December 2020.
'The second wave of the COVID-19 pandemic continued to impact customer behavior during the fourth quarter of 2020, as customers preferred to make less frequent visits to stores,' the company said.
'Hypermarket performance remained resilient in the current environment, thanks to our competitive range of products, attractive pricing, and safer stores; while the further development of Lenta's online sales played an important role in supporting growth,' it added.
Story provided by StockMarketWire.com
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