Last checked at 9 Jul 2010 07:00
X5 Retail Group REPORTS Q2 2010 Trading Results(1):
Q2 2010 Net RETAIL SALES GROW 18% in RUR and 26% in USD TERMS;
discounters continue to outperform the competition with 11% lfl growth overall and 16% lfl growth in regions;
full year 2010 sales Outlook reiterated
Amsterdam, 9 July 2010 - X5 Retail Group N.V., Russia's largest retailer in terms of revenue (LSE ticker: "FIVE"), announced today its retail sales and operational performance for the second quarter and first half of 2010.
| Q2 2010 Highlights |
| H1 2010 Highlights |
| ·; Net retail sales increased 18% year-on-year in RUR terms to RUR 79,757 mln or 26% in USD terms to USD 2,638 mln; ·; X5's LFL sales grew 4% in RUR terms year-on-year, supported by 2% traffic growth; ·; Discounters' customer traffic increased 6%, driving Pyaterochka's LFL sales growth of 11% year-on-year; ·; 73 stores added on net basis in Q2 2010, including 72 soft discounters, two hypermarkets and one net store closure for supermarkets; in addition 42 convenience stores added via gaining operational control of Express Retail; ·; Net addition of 29 thousand sq. m. of selling space for discounters, supermarkets and hypermarkets; convenience stores added up another nine thousand sq.m. of selling space;
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| ·; Net retail sales increased 19% year-on-year in RUR terms to RUR 155,510 mln or 31% in USD terms to USD 5,172 mln; ·; X5's LFL sales grew 5% in RUR terms year-on-year on the back of 2% traffic growth; ·; Discounters' customer traffic increased 7%, driving Pyaterochka's LFL sales growth of 14% year-on-year; ·; 100 stores added on net basis in H1 2010, including 96 soft discounters and four hypermarkets; in addition 42 convenience stores added via gaining operational control of Express Retail; ·; Net addition of 51 thousand sq. m. of selling space for discounters, supermarkets and hypermarkets; convenience stores added up another nine thousand sq.m. of selling space;
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·; As at 30 June 2010 X5 operated 1,514 stores (1,123 thousand sq. m.), including 1,135 soft discounters, 275 supermarkets, 62 hypermarkets and 42 convenience stores;
·; 2010 sales growth outlook as provided on 27 May 2010 reiterated. Actual top line performance will be largely dependent on inflationary trends and the timing of a recovery in the consumer spending.
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(1) Numbers provided in this press-release are preliminary and unaudited.
Lev Khasis, X5 Retail Group CEO, commented:
"We are pleased that X5's discounters once again delivered the strongest performance in the format. Double-digit LFL growth of 11% amid drastically lower food inflation exceeded our expectations, especially when compared to the strong second quarter last year driven by the tremendous success of Pyaterochka's new pricing policy. Discounters also delivered commendable LFL sales growth of 16% in the regions in Q2 2010 as Pyaterochka made significant progress in attracting consumers outside of Moscow and St. Petersburg.
During current uneasy economic environment X5 is keeping its focus on constant enhancement through targeted price campaigns, promotions featuring unique offerings, continuous assortment improvement, and upgrades to loyalty card programs. Hypermarkets are already demonstrating positive LFL sales growth and we believe supermarkets upturn is coming, fuelled by our actions and expected economic recovery. Paterson stores have been successfully integrated and re-launched, which led to positive LFL growth closer to the end of the second quarter. All of these factors, coupled with increasing new store openings and solid momentum demonstrated by discounters, make us confident in our outlook for 2010 top line growth."
Net Retail Sales(1) Performance
Net Retail Sales Dynamics by Format(2)
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| % change |
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| % change |
| USD mln | Q2 2010 | Q2 2009 | y-o-y | H1 2010 | H1 2009 | y-o-y |
| Hypermarkets | 487.8 | 394.8 | 24% | 958.9 | 747.9 | 28% |
| Supermarkets | 630.5 | 573.7 | 10% | 1,276.6 | 1,113.7 | 15% |
| Soft Discounters | 1,496.1 | 1,131.1 | 32% | 2,909.2 | 2,097.3 | 39% |
| Convenience stores(3) | 19.2 | - | n/a | 19.2 | - | n/a |
| Online(4) | 4.0 | - | n/a | 8.0 | - | n/a |
| Total Net Retail Sales | 2,637.7 | 2,099.6 | 26% | 5,172.0 | 3,959.0 | 31% |
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| % change |
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| % change |
| RUR mln | Q2 2010 | Q2 2009 | y-o-y | H1 2010 | H1 2009 | y-o-y |
| Hypermarkets | 14,751.2 | 12,751.7 | 16% | 28,831.3 | 24,730.9 | 17% |
| Supermarkets | 19,071.8 | 18,505.1 | 3% | 38,384.9 | 36,828.9 | 4% |
| Soft Discounters | 45,234.7 | 36,568.9 | 24% | 87,473.7 | 69,354.6 | 26% |
| Convenience stores(3) | 578.1 | - | n/a | 578.1 | - | n/a |
| Online(4) | 121.5 | - | n/a | 241.8 | - | n/a |
| Total Net Retail Sales | 79,757.3 | 67,825.7 | 18% | 155,509.8 | 130,914.4 | 19% |
X5 net retail sales for the second quarter of 2010 reached RUR 79,757 mln, a year-on-year increase of 18% in RUR terms, or USD 2,638 mln, a year-on-year increase of 26% in USD terms. First half 2010 net retail sales were RUR 155,510 mln or USD 5,172 mln - an increase of 19% in RUR and 31% in USD terms, respectively.
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(1) Net retail sales represent revenue from operations of X5 managed stores excluding VAT. This number differs from total net sales that also include revenue from franchisees (royalty payments) and other revenue. The total net sales number will be reported along with Q2 2010 financial results.
Net retail sales of Paterson stores are included only for Q2 and H1 2010 and excluded for Q2 and H1 2009 as the acquisition was completed in December 2009.
(2) Please note that in this and other tables of this press release immaterial deviations in calculation of % change, subtotals and totals are explained by rounding.
(3) Included from 1 April 2009.
(4) Included from 1 October 2009.
Gross Retail Sales(1) Analysis
Gross Retail Sales Dynamics
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| Q2 2010 | H1 2010 | ||||||
| Based on RUR-denominated gross retail sales | LFL, % | Organic Expansion, % | Scope change -Paterson, % | Total change % | LFL, % | Organic Expansion, % | Scope change -Paterson, % | Total change, % |
| Hypermarkets | 2 | 12 | - | 14 | 0 | 16 | - | 16 |
| Supermarkets | (8) | 5 | 8 | 5 | (7) | 4 | 8 | 5 |
| Soft Discounters | 11 | 12 | 1 | 24 | 14 | 11 | 1 | 26 |
| Total Gross Retail Sales | 4 | 11 | 3 | 18 | 5 | 11 | 3 | 19 |
| FX Effect |
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| 8 |
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| 12 |
| Total change %, incl. FX |
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| 26 |
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| 31 |
Sales growth for the second quarter 2010 consists of 4% LFL sales growth with the rest coming from organic expansion and convenience stores (+11%) as well as the contribution from Paterson (+3%).
Q2 2010 sales of the acquired Paterson stores were affected by the integration process, which involved temporary store closings for one to four weeks for rebranding, reconstruction and IT upgrades. Integration of Paterson was completed at the end of May 2010. The stores, now operating within X5's assortment and pricing policies and supported by X5 logistics network are demonstrating positive sales growth towards the end of the quarter. LFL for Paterson stores in June 2010 already moved into positive territory.
LFL Sales Performance
The Company's total LFL sales in second quarter 2010 increased 4% in RUR terms, driven by a 2% increase in customer traffic and 2% increase in average basket. LFL growth was achieved against a backdrop of weak consumer spending and drastically lower inflation, with prices on X5's shelves also substantially lagging the national inflation rate.
Like-For-Like(2) Store Performance (see Appendix I for detailed LFL performance)
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| Q2 2010 |
| H1 2010 | ||||
| Based on RUR-denominated gross retail sales | Total LFL, % | Traffic, % | Basket, % | Total LFL, % | Traffic, % | Basket, % | |
| Hypermarkets | 2 | 0 | 2 |
| 0 | (3) | 3 |
| Supermarkets | (8) | (9) | 1 |
| (7) | (9) | 2 |
| Soft Discounters | 11 | 6 | 5 |
| 14 | 7 | 7 |
| X5 Retail Group Total | 4 | 2 | 2 |
| 5 | 2 | 3 |
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(1) In this section all sales dynamics analysis is based on RUR-denominated gross retail sales (including VAT, excluding FX). Net retail sales RUR growth rates may immaterially differ due to effective VAT rate.
(2) Like-for-like (LFL) comparisons of retail sales between two periods are comparisons of retail sales in local currency (including VAT) generated by the relevant stores. The stores that are included in LFL comparisons are those that have operated for at least twelve full months preceding the beginning of the last month of the reporting period. Their sales are included in LFL calculation starting from the first day of the month following the month of the store opening.
Acquired Paterson stores are not included in X5's LFL calculations for Q2 and H1 2010 as X5 did not operate them until the acquisition in December 2009.
Discounters delivered the best performance of any industry competitor, in terms of sales growth, LFL sales and sales per sq. meter. Strong LFL growth of 11% was achieved in Q2 2010 amid the high base of the last year, when discounters demonstrated record 18% LFL from pre-crisis Q2 2008 to crisis Q2 2009. LFL performance in Q2 2010 benefited from a stronger contribution from the regions as discounter stores delivered 16% growth on increased local market share and success at winning customers versus competitors.
Supermarket LFL sales declined 8% on a 9% decline in traffic and 1% basket increase as customers continued to favor discounters due to continued economic uncertainty. Hypermarket LFL growth came into positive territory and reached 2% on 2% increase in basket. Performance in this format was partly affected by intense competition in St. Petersburg.
Performance across formats was affected by lower inflation. Prices on X5's shelves rose on average by 1.5% in June 2010 compared to June 2009. By comparison, Russia's official food inflation rate in June 2010 was 4.5% whereas in June 2009 inflation was running at 12%.
Expansion
| | | As of | | Rebranding | Closings | Net Added | % change | |
| | 31-Dec-09 | 31-Mar-10 | 30-Jun-10 | H1 2010 | H1 2010 | Q2 2010 | H1 2010 | vs 31-Dec-09 |
| Selling Space, sq. m. | | | | | | | | |
| Hypermarkets | 285,581 | 299,268 | 310,859 | - | - | 11,592 | 25,278 | 9% |
| Supermarkets | 284,359 | 287,848 | 286,919 | 751 | (4,614) | (929) | 2,560 | 1% |
| Soft Discounters | 493,016 | 497,670 | 516,445 | (751) | (1,231) | 18,775 | 23,429 | 5% |
| Convenience stores | - | - | 8,610 | - | - | 8,610 | 8,610 | n/a |
| X5 Retail Group Total | 1,062,956 | 1,084,786 | 1,122,833 | - | (5,845) | 38,048 | 59,877 | 6% |
| | | | | | | | | |
| # of Stores | | | | | | | | |
| Hypermarkets | 58 | 60 | 62 | - | - | 2 | 4 | 7% |
| Supermarkets | 275 | 276 | 275 | - | (6) | (1) | - | 0% |
| Soft Discounters | 1,039 | 1,063 | 1,135 | - | (3) | 72 | 96 | 9% |
| Convenience stores | - | - | 42 | - | - | 42 | 42 | n/a |
| X5 Retail Group Total | 1,372 | 1,399 | 1,514 | - | (9) | 115 | 142 | 10% |
·; In second quarter 2010, X5 added a net 73 stores (excluding convenience stores), which includes 72 soft discounters, two hypermarkets and one net store closure for supermarkets expanding total net selling space by 29 thousand sq.m. This takes into account the following:
·; During the second quarter, X5 closed one Pyaterochka discounter in the Moscow region, one Perekrestok supermarket in the Samara region and two ex-Paterson stores in the Arkhangelsk region, in order to maximize the efficiency of its store portfolio.
·; During the second quarter, X5 also converted one Perekrestok supermarket to a Pyaterochka discounter.
·; Paterson integration was completed at the end of May. Since Paterson was acquired in December 2009, 53 stores have been re-launched as supermarkets; 22 stores were re-launched as discounters; two stores are temporarily closed and five stores have been closed down as planned as not meeting X5's business or financial criteria.
·; In April 2010 X5 gained operational control over Express Retail convenience stores. As a result 42 convenience stores were added to the Company's multiformat model, expanding total net selling space by nine thousand sq.m.
Additional information is provided in Attachment IV to this press release.
As at 30 June 2010, X5 Retail Group was present in 45cities of European Russia, the Urals and Ukraine, operating 1,514 stores in total (1,123 thousand sq.m. in selling space). This includes 1,135 soft discounters, 275 supermarkets, 62 hypermarket stores and 42 convenience stores.
Franchisee Relationship Update
As at 30 June 2010 the Company's franchisee store network totalled 610 stores across Russia, including 577 Pyaterochka, 19 Paterson and 14 convenience stores.
Appendices
I. LFL Store Performance by Format and Region
II. Net Retail Sales Performance by Region
III. Average Ticket and Number of Customers
IV. Net Store Addition by Format and Region
V. Paterson Operational Performance
VI. Financial Calendar for 2010
Note to Editors:
X5 Retail Group N.V. is Russia's largest retailer in terms of sales. The Company was created as a result of a merger between Pyaterochka (soft discounter chain) and Perekrestok (supermarket chain) on 18 May 2006. In June 2008, X5 acquired Karusel hypermarket chain and substantially strengthened its position in hypermarket format.
As at 30 June 2010, X5 had 1,514 Company-managed stores located in Moscow, St. Petersburg and other regions of European Russia, Urals and Ukraine, including 1,135 soft discount stores, 275 supermarkets, 62 hypermarkets and 42 convenience stores.
As at 30 June 2010, X5's franchisees operated 610 stores across Russia.
For the full year 2009 X5's net sales totaled USD 8,717 mln, EBITDA reached USD 736 mln, and net profit amounted to USD 165 mln.
For the first half 2010, net retail sales totaled USD 5,172 mln.
X5 Shareholder structure is as follows: Alfa Group - 47.9%, founders of Pyaterochka - 23.1%, X5 Management - 1.9%, treasury shares - 0.1%, free float - 27.0%.
Forward looking statements:
This announcement includes statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the fact that they do not only relate to historical or current events. Forward-looking statements often use words such as" anticipate", "target", "expect", "estimate", "intend", "expected", "plan", "goal" believe", or other words of similar meaning.
By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances, a number of which are beyond X5 Retail Group N.V.'s control. As a result, actual future results may differ materially from the plans, goals and expectations set out in these forward-looking statements.
Any forward-looking statements made by or on behalf of X5 Retail Group N.V. speak only as at the date of this announcement. Save as required by any applicable laws or regulations, X5 Retail Group N.V. undertakes no obligation publicly to release the results of any revisions to any forward-looking statements in this document that may occur due to any change in its expectations or to reflect events or circumstances after the date of this document.
| For further details please contact
| |
| Anastasiya I IR manager Tel.:+7(495) 662-8888, ext. 22 452 e-mail: anastasiya.i@x5.ru
| Maxim Trapeznikov Head of PR Department Tel.: +7 (495) 662-8888, ext. 31 262 e-mail: maxim.trapeznikov@x5.ru
|
Appendix I: LFL Store Performance by Format and Region(1)
| | Q2 2010 | H1 2010 | | ||||||||||||
| | Total LFL, % | Traffic, % | Basket, % | Total LFL, % | Traffic, % | Basket, % | | ||||||||
| Moscow & the Moscow region | | | | | | | | ||||||||
| Hypermarkets | 12 | 9 | 3 | 10 | 5 | 5 | | ||||||||
| Supermarkets | (7) | (9) | 2 | (6) | (9) | 3 | | ||||||||
| Soft Discounters | 14 | 9 | 5 | 17 | 10 | 7 | | ||||||||
| X5 Retail Group Total | 6 | 4 | 2 | 8 | 4 | 4 | | ||||||||
| | | | | | | | | ||||||||
| St. Petersburg & North-West | | | | | | | | ||||||||
| Hypermarkets | (11) | (10) | (1) | (10) | (12) | 2 | | ||||||||
| Supermarkets | (7) | (8) | 1 | (3) | (7) | 4 | | ||||||||
| Soft Discounters | 3 | 1 | 2 | 6 | 2 | 4 | | ||||||||
| X5 Retail Group Total | (1) | (1) | 0 | 1 | (1) | 2 | | ||||||||
| | | | | | | | | ||||||||
| Regions | | | | | | | | ||||||||
| Hypermarkets | 7 | 3 | 4 | 5 | 0 | 5 | | ||||||||
| Supermarkets | (12) | (10) | (2) | (11) | (10) | (1) | | ||||||||
| Soft Discounters | 16 | 8 | 8 | 19 | 11 | 8 | | ||||||||
| X5 Retail Group Total | 5 | 2 | 3 | 5 | 3 | 2 | | ||||||||
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| X5 Retail Group | | | | | | | | ||||||||
| Hypermarkets | 2 | 0 | 2 | 0 | (3) | 3 | | ||||||||
| Supermarkets | (8) | (9) | 1 | (7) | (9) | 2 | | ||||||||
| Soft Discounters | 11 | 6 | 5 | 14 | 7 | 7 | | ||||||||
| X5 Retail Group Total | 4 | 2 | 2 | 5 | 2 | 3 | | ||||||||
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(1) Based on RUR-denominated gross sales (including VAT, excluding FX). Net sales RUR growth rates may immaterially differ due to effective VAT rate.
Like-for-like comparisons of retail sales between two periods are comparisons of retail sales in local currency (including VAT) generated by the relevant stores. The stores that are included in like-for-like comparisons are those that have operated for at least twelve full months preceding the beginning of the last month of the reporting period. Their sales are included in like-for-like calculation starting from the first day of the month following the month of the store opening. The like-for-like comparison for each store takes into account retail sales generated by that store during the same months it was in operation in both the reporting period and the period of comparison. The retail sales of all the relevant stores in the relevant months are then aggregated and compared. Like-for-like sales are calculated on the basis of traffic and basket amounts of relevant stores in the period under review.
Please note that acquired Paterson stores are not included in X5's LFL calculations for Q2 and H1 2010 as X5 did not operate them until the acquisition in December 2009. Information on Paterson's stand-alone operational performance is provided for reference purposes in Appendix V to this press release.
Appendix II: Net Retail Sales Performance by Region
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| % change |
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| % change |
| USD mln | Q2 2010 | Q2 2009(1) | y-o-y | H1 2010 | H1 2009(1) | y-o-y |
| Moscow & the Region | 1,368.7 | 1,091.7 | 25% | 2,665.0 | 2,053.0 | 30% |
| St. Petersburg & North-West | 690.7 | 596.2 | 16% | 1,368.5 | 1,131.9 | 21% |
| Other Regions | 574.2 | 411.8 | 39% | 1,130.4 | 774.0 | 46% |
| Online(2) | 4.0 | - | n/a | 8.0 | - | n/a |
| Total Net Retail Sales | 2,637.7 | 2,099.6 | 26% | 5,172.0 | 3,959.0 | 31% |
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| % change |
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| % change |
| RUR mln | Q2 2010 | Q2 2009(1) | y-o-y | H1 2010 | H1 2009(1) | y-o-y |
| Moscow & the Region | 41,383.8 | 35,269.5 | 17% | 80,131.5 | 67,889.7 | 18% |
| St. Petersburg & North-West | 20,887.4 | 19,252.5 | 8% | 41,148.4 | 37,429.5 | 10% |
| Other Regions | 17,364.5 | 13,303.8 | 31% | 33,988.0 | 25,595.2 | 33% |
| Online(2) | 121.5 | - | n/a | 241.8 | - | n/a |
| Total Net Retail Sales | 79,757.3 | 67,825.7 | 18% | 155,509.8 | 130,914.4 | 19% |
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(1) Excluding Paterson results, as the acquisition was completed only in December 2009.
(2) Included from 1 October 2009.
Appendix III: Average Ticket and Number of Customers
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| Q2 2010 | Q2 2009 | % change, y-o-y | H1 2010 | H1 2009 | % change, y-o-y |
| Average Ticket, RUR |
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| Hypermarkets | 598.8 | 602.5 | (1%) | 612.6 | 601.8 | 2% |
| Supermarkets | 353.7 | 358.5 | (1%) | 361.8 | 364.0 | (1%) |
| Soft Discounters | 257.2 | 250.7 | 3% | 263.3 | 253.5 | 4% |
| Convenience stores(1) | 191.3 | - | n/a | 191.3 | - | n/a |
| Online(2) | 4,148.9 | - | n/a | 4,051.6 | - | n/a |
| X5 Retail Group Total | 309.7 | 310.4 | (0.2%) | 318.5 | 315.0 | 1% |
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| Average Ticket, USD |
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| Hypermarkets | 19.80 | 18.7 | 6% | 20.37 | 18.20 | 12% |
| Supermarkets | 11.70 | 11.1 | 5% | 12.03 | 11.01 | 9% |
| Soft Discounters | 8.50 | 7.8 | 10% | 8.76 | 7.67 | 14% |
| Convenience stores(1) | 6.33 | - | n/a | 6.36 | - | n/a |
| Online(2) | 137.2 | - | n/a | 134.8 | - | n/a |
| X5 Retail Group Total | 10.2 | 9.6 | 7% | 10.6 | 9.5 | 11% |
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| # of Customers, mln. |
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| Hypermarkets | 27.7 | 24.2 | 15% | 53.4 | 47.0 | 14% |
| Supermarkets | 62.8 | 59.0 | 6% | 122.5 | 115.5 | 6% |
| Soft Discounters | 199.8 | 165.9 | 20% | 377.7 | 310.9 | 21% |
| Convenience stores(1) | 3.4 | - | n/a | 3.4 | - | n/a |
| Online(2) | 0.03 | - | n/a | 0.1 | - | n/a |
| X5 Retail Group Total | 293.8 | 249.0 | 18% | 557.1 | 473.4 | 18% |
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(1) Included from 1 April 2009.
(2) Included from 1 October 2009.
Appendix IV: Net Store Addition by Format and Region
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| As at |
| Rebranding | Closings | Net Added | % change | |
| # of Stores | 31-Dec-09 | 31-Mar-10 | 30-Jun-10 | H1 2010 | H1 2010 | Q2 2010 H1 2010 | vs 31-Dec-09 | |
| Moscow & the Moscow Region |
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| Hypermarkets | 13 | 13 | 14 | - | - | 1 | 1 | 8% |
| Supermarkets | 152 | 151 | 152 | (2) (1) | (1) | 1 | - | 0% |
| Soft Discounters | 433 | 441 | 470 | 2(1) | (2) | 29 | 37 | 9% |
| Convenience stores | - | - | 42 | - | - | 42 | 42 | n/a |
| Total | 598 | 605 | 678 | - | (3) | 73 | 80 | 13% |
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| St. Petersburg & North-West |
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| Hypermarkets | 17 | 17 | 17 | - | - | - | - | 0% |
| Supermarkets | 33 | 32 | 32 | - | (3) | - | (1) | (3%) |
| Soft Discounters | 306 | 313 | 329 | - | - | 16 | 23 | 8% |
| Total | 356 | 362 | 378 | - | (3) | 16 | 22 | 6% |
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| Regions |
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| Hypermarkets | 28 | 30 | 31 | - | - | 1 | 3 | 11% |
| Supermarkets | 90 | 93 | 91 | 2(2) | (2) | (2) | 1 | 1% |
| Soft Discounters | 300 | 309 | 336 | (2) (2) | (1) | 27 | 36 | 12% |
| Total | 418 | 432 | 458 | - | (3) | 26 | 40 | 10% |
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| X5 Retail Group |
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| Hypermarkets | 58 | 60 | 62 | - | - | 2 | 4 | 7% |
| Supermarkets | 275 | 276 | 275 | - | (6) | (1) | - | (0.4%) |
| Soft Discounters | 1,039 | 1,063 | 1,135 | - | (3) | 72 | 96 | 9% |
| Convenience stores | - | - | 42 | - | - | 42 | 42 | n/a |
| X5 Retail Group Total | 1,372 | 1,399 | 1,514 | - | (9) | 115 | 142 | 10% |
Appendix V: Paterson Operational Performance
Net Retail Sales Performance
| USD mln | Q2 2010 | Q2 2009 | % change y-o-y | H1 2010 | H1 2009 | % change y-o-y |
| Paterson Net Retail Sales | 70.7 | 80.6 | (12%) | 132.6 | 157.2 | (16%) |
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| RUR mln | Q2 2010 | Q2 2009 |
| H1 2010 | H1 2009 |
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| Paterson Net Retail Sales | 2,137.3 | 2,599.5 | (18%) | 3,986.2 | 5,197.3 | (23%) |
LFL Sales Performance
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| Q2 2010 | H1 2010 | ||||
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| LFL, % | Traffic, % | Basket,% | LFL,% | Traffic,% | Basket,% |
| Total Paterson | (4) | (14) | 10 | (11) | (14) | 3 |
Average Ticket and Number of Customers(1)
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| Q2 2010 | Q2 2009 | % change y-o-y | H1 2010 | H1 2009 | % change y-o-y |
| Average Ticket, RUR | 244.9 | 214.9 | 14% | 232.0 | 223.3 | 4% |
| # of Customers, mln | 9.9 | 13.8 | (28%) | 19.5 | 26.6 | (27%) |
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(1) Based on all Paterson stores' gross sales
Appendix VI: Financial Calendar for 2010
| Date | Event |
| 26 August 2010, TBC | Q2 & H1 2010 Financial Results Reviewed by Auditors |
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| 11 October 2010, TBC | Q3 & 9M 2010 Trading Update |
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| 29 November 2010, TBC | Q3 & 9M 2010 Financial Results Reviewed by Auditors |