Fix Price Group PLC (FIXP)
Fix Price Group PLC: The number of net new Fix Price store openings in 2022 exceeds targets
28-Dec-2022 / 12:00 MSK
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THE NUMBER OF NET NEW FIX PRICE STORE OPENINGS IN 2022 EXCEEDS TARGETS
By the end of December, the number of stores already adds up to 5,661
28 December 2022 – Fix Price, one of the leading variety value retailers globally and the largest in Russia, has expanded by more than 750 new stores this year, including both Company-operated and franchised stores in Russia and abroad. As of 26 December 2022, the number of stores stood at 5,661, up 757 stores vs 31 December 2021. Previously, the Company announced guidance for 2022 of 750 net openings (openings less closures).
Moscow and the Moscow Region accounted for the biggest increase in the number of stores (net openings) – 102. Next came the Krasnodar Territory and the Republic of Bashkortostan with 40 and 26 new stores respectively. The chain also continued to expand in Russia's remote regions: in 2022, new stores opened their doors in the Republic of Sakha (1), Kamchatka Territory (1) and Yamal-Nenets Autonomous District (4).
“We are proud to announce that despite this year’s challenges and unpredictability we managed to stick to our plans and open more stores than expected. Every month, Fix Price launches over 60 stores across various regions. The Company maintains a high growth pace, driven by an efficient business model and single store format. Starting 2022, all new stores are equipped with manned as well as self-service checkouts to boost traffic and make shopping faster and more convenient. Next year, we are going to keep the momentum by opening at least 750 new stores (net) and creating several thousands of new jobs.”
Vladimir Pogonin, Store Management Director at Fix Price
More details on the Company’s 2022 performance will be available as we announce our operating results on 26 January 2023.
About the Company
Fix Price (LSE and MOEX: FIXP), one of the leading variety value retailers globally and the largest in Russia, has helped its customers save money every day since 2007. Fix Price offers shoppers a unique and constantly refreshed product assortment of non-food goods, personal care and household products and food items at low fixed price points.
As of 30 September 2022, Fix Price was operating 5,462 stores in Russia and neighbouring countries, all of them stocking approximately 2,000 SKUs across around 20 product categories. As well as its own private brands, Fix Price sells products from leading global names and smaller local suppliers. As of 30 September 2022, the Company was operating 10 DCs covering 80 regions of Russia and 6 neighbouring countries.
In 2021, the Company recorded revenue of RUB 230.5 billion, EBITDA of RUB 44.2 billion and net profit of RUB 21.4 billion, in accordance with IFRS.
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