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1st quarter fixed price revenue increased due to higher retail revenue; 2021 final dividend postponed

By on April 27, 2022 0

By Anthony O. Goriainoff


Fix Price Group Ltd. said Wednesday that revenue rose 21% in the first quarter as retail revenues increased, and said it would defer the final dividend payment for 2021 for up to 12 months.

The Russian company, which operates a chain of discount variety stores, said its revenue was 62.63 billion Russian rubles ($828.2 million) from 51.66 billion rubles in the first quarter 2020.

Retail trade revenue during the period increased by 23% to 55.39 billion rubles, while wholesale trade revenue increased by 7% to 7.25 billion rubles.

Although like-for-like sales over the period were up 12%, comparative sales momentum was uneven as a new wave of coronavirus in January and February led to more cautious consumer behavior coupled with government restrictions , the company said.

Fix Price said the number of registered loyalty cardholders increased by one million to 18 million in the first quarter and transactions using loyalty cards reached 53% of total retail sales, up from 41%. the previous year. The average ticket for purchases made with loyalty cards was RUB 438, an increase from RUB 403 during the same period in 2020, he said. In comparison, the average ticket price for non-loyalty cardholders was RUB 249 during the period.


Write to Anthony O. Goriainoff at [email protected]