M.Video, the largest Russian consumer electronics retailer, reported a 3% y-o-y decline in its unaudited sales revenues to RUB 44.2bn (€739m) in Q1 2017. At the same time, the company’s like-for-like sales contracted by 6.5%.
M.Video’s online sales, in turn, showed growth of nearly 6% to RUB 5.5bn (€92m) in Q1 2017, year on year.
During the first three months of 2016, M.Video launched only one new outlet, bringing its store count to 399 branches in 165 cities throughout Russia and with a total retail area of 664,000 m2.
By June 2017, M.Video plans to build one of the largest multisector logistics centres in Russia, in Chekhov, Moscow Province, new-retail.ru reported. It will combine its two key operating warehouses under the management of one partner, ALIDI. The centre will allow the retailer to double the speed of preparation and delivery of ordered goods in Moscow and the region. The total area of the united central distribution centre will be 62,000 m2.
|M.Video sales revenues (RUB m) and change (%, y-o-y) in Russia, Q1 2016 and Q1 2017|
|Q1 2016||Q1 2017||Change|
|Total sales revenues||45,563||44,187||-3.0%|
|Online sales revenues||5,230||5,537||5.9%|