The Fix Price retailer, which operates Russia’s largest chain of fixed price stores, increased its revenue by 27% in the second quarter of 2022 compared to the same period last year, to 69.2 billion rubles.
In particular, retail revenue grew by 27.3% to 61.3 billion rubles, wholesale – by 24.3% to 7.9 billion rubles, the company said.
Like-for-like (LfL) sales increased by 15.4% driven by a 16.5% increase in average check, which fully offset a 0.9% decrease in traffic. The increase in the ticket was driven by high consumer demand for Fix Price goods, constant rotation of the assortment and an increase in the share of higher price categories in retail sales. Traffic declined amid a high Q2 2021 base, the retailer noted.
In the first half of the year, Fix Price’s revenue increased by 24.2% to 131.8 billion rubles. LfL sales increased by 13.5% on the back of a 14.3% increase in average ticket, which fully offset a 0.7% decrease in traffic.