Dixy Bullish On Year-End Sales

Spurred on by ongoing economic weakness and a dejected consumer base, Russia's third largest discount grocery retail operator, Dixy Group, has confidently forecast its year-end (through to December 31 2009) sales revenue to push up by 18% year-on-year (y-o-y) to RUB58bn (US$1.86bn). BMI believes that the ongoing strength of the discount category still has some play left in it. At the real economy level, consumer confidence remains shaky (retail sales are still falling) and down trading trends persist. Operating about 500 discount stores across Russia, Dixy is promisingly positioned to capitalise on a forecast 66.3% increase in industry-wide discount store

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