NEWS & EVENTS: Breaking News
08.02.2010 10:06
Feb 8. Retailer Victoria reported a 5% drop in 2009 sales, shifting focus to supermarkets. Russian food retail chain Victoria posted a 5% decline in 2009 sales to RUB 33 bn from RUB 34.6 bn in 2008, the company’s co-owner Nikolay Vlasenko said in his presentation. Sales dropped as the network shrank in size. According to Vlasenko, in 2009 the retailer closed a number of stores, thereby missing its target of opening 16 new outlets. In 2010 Victoria hopes to ramp up sales, shifting its focus to the rollout of stores for the middle class, Vlasenko pointed out. In its strategy, Victoria intends to zero in on the development of high-yield formats, e.g. next-door stores and supermarkets, Vlasenko added declining to give guidance on opening outlets and boosting sales in 2010.
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